| EBM - KC HRW SPREAD | |
| Contract code | BKS |
| Unit of trading | 50 metric tonnes |
| Pricing unit/quotation (= price basis) | Euros per metric tonne |
| Origins tenderable | N/A |
| Quality | |
| Minimum price movement (tick size and value) | 25 eurocents per metric tonne or €12.50 per contract |
| Delivery months | Spread: Mar May Sep Dec Euronext Wheat: Mar May Sep Dec CBOT KC HRW wheat: Mar May Sep Dec |
| Introduction of new expiry months | The 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 services | Against Actuals, Exchange for Swaps, Large-in-Scale |
| Euronext market | Paris |
| Last trading day | The 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 Price | For 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 KC HRW 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 organization | Euronext Clearing |
| Delivery limits | Contract is cash settled and the delivery limits will be as for the standard contract position limits applicable pursuant to MiFID II framework. |
| Trading hours | Monday - Friday from 10:45 - 18:30 CET. |
| Trading platform | Optiq |
| Algorithm | Central Order Book applies a price-time trading algorithm, with priority given to the first order at the best price. |
| Last update | 09-nov-24 |
| Related documentation |