EBM - SRW SPREAD
Contract codeBCS
Unit of trading50 metric tonnes
Pricing unit/quotation (= price basis)Euros per metric tonne
Origins tenderableN/A
Quality 
Minimum price movement (tick size and value)25 eurocents per metric tonne or €12.50 per contract
Delivery monthsSpread:          Mar May Sep Dec
Euronext Wheat: Mar May Sep Dec
CBOT Chicago wheat: Mar May Sep Dec
Introduction of new expiry monthsThe opening of a new contract will occur on the date set by the Exchange, in principle, on the first trading day following the expiration of a contract, in accordance with the schedule established by the Exchange.
Wholesale servicesAgainst Actuals, Exchange for Swaps, Large-in-Scale
Euronext marketParis
Last trading dayThe 15th calendar day of the month immediately preceding the Spread Futures Contract month, at 18:30 CET. If this day does not fall on a Euronext or CBOT business day, then the last day of trading will be the following business day.
Settlement (Delivery)Daily settlement to take place on each contract business day (except the last trading day) at 18:30 CET and will be calculated using trades, bids and offers in the Spread Futures Contract. The daily settlement prices will be determined based on trading activity on Euronext Market Paris (Optiq) during the settlement period leading into 18:30 CET.
Delivery period 
Daily Settlement PriceFor the method to calculate the Daily Settlement Prices (DSPs) please check https://live.euronext.com/en/products/commodities/dsp.
Exchange Delivery Settlement Price (EDSP)Cash settlement on the last trading day, on the basis of the underlying Euronext Milling Wheat No. 2 Futures settlement price on that day minus the underlying CBOT Chicago Wheat 18:30 CET time marker price on that day converted into metric tonnes by multiplying the price in cents/bushel by 0.367437 and then converted into EUR using US Dollar/Euro FX Cross Rate (Refinitiv/LSEG RIC: USDEUR=R)  at 18:30 CET and rounded to the nearest 25 eurocents.
Clearing organizationEuronext Clearing
Delivery limitsContract is cash settled and the delivery limits will be as for the standard contract position limits applicable pursuant to MiFID II framework.
Trading hoursMonday - Friday from 10:45 - 18:30 CET.
Trading platformOptiq
AlgorithmCentral Order Book applies a price-time trading algorithm, with priority given to the first order at the best price.
Last update08-nov-24

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