Business Streams
Products
| TEU CFSAs | |
| Description | SCFI cash settled container freight swap agreements based on the following routes: CNW (Shanghai - North West Europe)
|
| Lot size | 1 TEU 20ft container |
| Currency | US Dollars |
| Pricing | US $ per TEU |
| Minimum tick | US $ 0.01 to account for final settlement |
| Fixed price | The traded price or the previous day's settlement price as supplied end of day by Approved OTC Brokers, or any other such source as LCH.Clearnet may determine |
| Floating price | In respect of daily settlement, the floating price will be the end of day price as supplied by Approved OTC Brokers, or any other such source as LCH.Clearnet may determine. In respect of final settlement, the floating price will be the mean of all the SCFI weekly spot assessments for the contract route as published by the Shanghai Shipping Exchange each Friday during the contract month. |
| Contract series | Front 3 months, front quarter + following 3 quarters, 1 whole calendar year (out to a maximum of 23 months) |
| Last Trading Day | Last publication day of the relevant index in the contract month ie the last Chinese business Friday of every month. Where the last Friday of the month is a UK business day but a Chinese holiday, the last trading day will be the previous publication day. Where the last Friday of the month is a Chinese business day but a UK holiday, the last trading day will be the previous UK business day. Quarter and Calendar contracts are last tradeable on the last trading day of the first month in that quarter or calendar. |
| Delivery | Cash settled monthly against the arithmetic average of all the SCFI indices in the contract month |
| Final payment | The first UK business day following the last trading day |
| Business days | Chinese business days for the purpose of Index publication.
|
| FEU CFSAs | |
| Description | SCFI cash settled container freight swap agreements based on the following routes: CSW (Shanghai - US West Coast)
|
| Lot size | 1 FEU 40ft container |
| Currency | US Dollars |
| Pricing | US $ per FEU |
| Minimum tick | US $ 0.01 to account for final settlement |
| Fixed price | The traded price or the previous day's settlement price as supplied end of day by Approved OTC Brokers, or any other such source as LCH.Clearnet may determine |
| Floating price | In respect of daily settlement, the floating price will be the end of day price as supplied by Approved OTC Brokers, or any other such source as LCH.Clearnet may determine. In respect of final settlement, the floating price will be the mean of all the SCFI weekly spot assessments for the contract route as published by the Shanghai Shipping Exchange each Friday during the contract month. |
| Contract series | Front 3 months, front quarter + following 3 quarters, 1 whole calendar year (out to a maximum of 23 months) |
| Last Trading Day | Last publication day of the relevant index in the contract month ie the last Chinese business Friday of every month. Where the last Friday of the month is a UK business day but a Chinese holiday, the last trading day will be the previous publication day. Where the last Friday of the month is a Chinese business day but a UK holiday, the last trading day will be the previous UK business day. Quarter and Calendar contracts are last tradeable on the last trading day of the first month in that quarter or calendar. |
| Delivery | Cash settled monthly against the arithmetic average of all the SCFI indices in the contract month |
| Final payment | The first UK business day following the last trading day |
| Business days | Chinese business days for the purpose of Index publication.
|
