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Unit of trading |
One corn futures contract (EMA) |
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Expiry months |
Seven delivery months are open simultaneously:
January, March, June, August and November |
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Price basis |
Premium in euro per metric tonne |
Minimum price movement
(tick size and value) |
0.10 euro per metric tonne (€5) |
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Exercise day |
Long or short position on one corn futures contract. Automatic exercise of in the
money options on the last trading day |
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First trading day |
The first trading day of the underlying futures contract |
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Last trading day |
The fifteenth day of the month preceding the delivery month (if not a business day then the first business day immediately after) |
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Trading hours |
Trading session: 10:45 a.m. to 6:30 p.m. |
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Strike price |
Spread between two strike prices: one euro
11 strike prices are open at all times: the strike price closest to the price of the
underlying, the 5 strikes prices immediately below and the 5 strike prices
immediately above |
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Euronext.liffe Market: Paris.
Trading Platform:
- LIFFE CONNECT® trading host for futures and options.
Algorithm:
- Central order book applies a price-time trading algorithm.
Exercise price increments:
Contract standard:
- Assignment of one corn futures contract for the expiry month at the exercise price.
Option exercise:
- All options are ‘American’ style ie may be exercised at any time prior to expiry.
Clearing house: LCH.Clearnet S.A
Unless otherwise indicated all times are Paris times.
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