| The Against Actuals (AA) facility allows market participants to organise and execute futures transactions which relate directly to a specific identifiable underlying transaction in the same or similar physical commodity. Specifically, an AA is a transaction between two parties involving the purchase and sale of a futures contract and either:
(a) the simultaneous price fixing of a directly related physical contract for sale or purchase; or
(b) the hedging of a directly related physical contract for sale or purchase.
Undertaking an AA eliminates the execution risk associated with trading in the Central Order Book.
The AA facility is available for Cocoa, Robusta Coffee, White Sugar, Feed Wheat, Milling Wheat, Rapeseed and Corn futures.
For full details of the AA facility, please refer to section 4.4 of the NYSE Liffe Trading Procedures.
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