|UNSALTED LACTIC BUTTER FUTURES|
|Unit of trading||6 tonnes|
|Pricing unit/quotation (= price basis)||euros per tonne|
|Origins tenderable||European Union|
|Quality||Non-reconstituted unsalted lactic butter produced exclusively from pasteurised cream or milk, compliant with EU legislation.
Physical and Chemical Analysis:
|Minimum price movement (tick size and value)||1 euro per tonne|
|Delivery months||Monthly such that 18 calendar months are quoted at any time.|
|Introduction of new expiry months||First trading day following the last trading day.|
|Wholesale services||Against Actuals, Exchange for Swaps|
|Last trading day||The last business day prior to the tender day.|
|Settlement (Delivery)||Delivered free to Buyer's transport in accordance with Incoterm FCA from a EC regulations compliant store or production facility (duty paid) within a 150 km radius of Antwerp, Hamburg or Rotterdam, restricted to continental delivery.
Product should be stored frozen at a minimum temperature of -18 degrees, protected from moisture and foreign odours.
25kg net weight corrugated cartons with polyethylene liner, each package marked to enable trace back.
|Delivery period||Any business day from the first business day of the delivery month through to the last business day of the delivery month.|
|Exchange Delivery Settlement Price (EDSP) (methodo price)||EDSP as a physically delivered contract (please refer to the technical specifications)|
|Clearing organization||LCH SA|
|Delivery limits||Delivery limits are set by LCH S.A. and are published 80 days before the last trading day and are applicable for 12 days before the last trading day of the delivery month. Please refer to the LCH S.A. notices on the website.|
|Trading hours||09:00 to 18:00 CET|
|Algorithm||Central order book applies a price-time trading algorithm, with priority given to the first order at the best price.|
|Last update||28 May 2019|