Commodity Futures - Trading at Settlement

 Trading at Settlement (TAS) 
DefinitionTrading at Settlement (TAS) is a trading mechanism that allows a market participant to buy or sell futures contracts during the trading day equal to the yet-to-be determined settlement price, or at a price up to 4 ticks above or below that price.
Contracts code and referenceEBMT (TAS on EBM) 
ECOT (TAS on ECO) 
EMAT (TAS on EMA)
Delivery months

Same as the reference contract: 

  • EBMT; on the 4 first maturities, 
  • ECOT; on the 3 first maturities,
  • EMAT; on the first 2 maturity
Last day of tradingThe Expiration Date (and Last Trading Date) of a TAS expiry is set on the 20th of the month of the previous month of the reference month of the Expiry Cycle; if it is not a Business Day, then, it is set to the following Business Day.
Introduction of new expiry monthsOn the first business day after last trading date of the front month
Trading hours10:45 – 18:30 CET (UTC+1)
Clearing organizationEuronext Clearing
Trading platformOptiq