Expiry day settlement prices (EDSP) of commodity futures

Expiry day settlement prices (EDSP) of commodity futures

Euronext Paris SA calculates the Expiry Day Settlement Price of Milling Wheat (EBM), Rapeseed (ECO) and Corn (EMA) on the last trading day of the relevant expiry, by taking a feed of reported prices for a period known as the "Expiry Settlement Range". This period is set by product in the table below.

The Expiry Day Settlement Price is calculated as the volume-weighted average (VWAP) of the prices of trades executed during the Expiry Settlement Range, rounded to the nearest tick.

If no trades have occurred during the Expiry Settlement Range, Euronext Paris SA will consider the following criteria, in the following order and where applicable:
•    the VWAP of trades executed during the 30 minutes preceding the cessation of trading, rounded to the nearest tick;
•    the price of the last trade executed on the Contract during the relevant Trading Day;
•    in the absence of any trade during the Trading Day, a price derived from the previous day's EDSP, adjusted by the same calendar spread observed against other expiries of the same Contract.

If Euronext Paris SA considers that the price resulting from the application of the above criteria does not fairly reflect prevailing market conditions, it may set the EDSP at a price it deems consistent with a fair and orderly market, rounded where necessary to the nearest tick.

For the daily settlement price of Euronext Salmon Futures (ESF), please refer to the contract’s technical specifications.
For the daily settlement price of Container Freight Futures, please refer to the contract's technical specifications.

The EDSP is final and binding for all purposes.