SKIMMED MILK POWDER FUTURES
Contract code SMP
Unit of trading 6 tonnes
Pricing unit/quotation (= price basis) euros per tonne, FCA
Origins tenderable European Union
Quality Skimmed made by the spray process directly and exclusively from skimmed milk, compliant with EU legislation

Physical and Chemical Analysis:
-  Fat 1.25% maximum
-  Protein 34.0% in non-fat dry matter minimum
-  Ash 8.2% maximum
-  Moisture 4.0%, maximum
-  Scorched Particles Disc B maximum
-  Titratable Acidity 0.15%, maximum
-  Solubility Index 1.0 ml maximum
-  WPN index 1.51– 5.99 mg/g - medium heat

Microbiological Analysis:
-  Standard Plate Count 10.000/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.

Stored in a cool, dry environment, protected from moisture and foreign odours. Storage at a maximum of 25 degrees Celsius with a relative humidity below 65 percent.

25kg net weight in a minimum of 2 ply kraft paper bag with a polyethylene liner with a minimum tare of 240g, 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 Optiq
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