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Commodity Futures - Unsalted Lactic Butter

  UNSALTED LACTIC BUTTER FUTURES
Contract code ULB
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:
-  Butterfat 82.0% minimum, by weight
-  Butterfat 90.0% maximum, by weight
-  Dry non-fat milk-material 2.0% maximum
-  Moisture 16.0% maximum
-  Peroxide, 0.30 mEqu/kg maximum
-  Free fatty acids 0.35% maximum
-  pH 4.5 – 5.5

Microbiological Analysis:
-  Standard Plate Count 5.000/g, maximum
-  Coliforms 10/g maximum
-  E Coli Negative in 1g
-  Salmonella Negative in 25g
-  Yeast & Mould 100/g maximum
-  Inhibitors Negative

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
Euronext market Amsterdam
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
Trading platform Universal Trading Platform
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

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