NYSE Liffe Market: London.
Trading Platform: LIFFE CONNECT®.
Algorithm: Central order book applies a pro-rata trading algorithm, but with priority given to the first order at the best price subject to a minimum order volume and limited to a maximum volume cap.
Wholesale Trading Facilities: None apply.
Exercise Price Increments: $25 per tonne up to $1,000 $50 per tonne from $1,001 and above.
Contract Standard: Assignment of one Robusta Coffee futures contract for the expiry month at the exercise price.
Option Exercise: Robusta Coffee options are ‘American’ style i.e. may be exercised at any time prior to expiry.
Option Premium: The contract price is not paid at the time of purchase. Option positions, as with futures positions, are marked-to-market daily giving rise to positive or negative variation margin flows. If an option is exercised by the Buyer, the Buyer is required to pay the original contract price to the Clearing House and the Clearing House will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the Clearing House.
Clearing: LCH.Clearnet Ltd.
All times are London times. |
