All exchange traded futures and options have standard contract specifications. With contract specifications, all market participants can trade the contracts with confidence as they know what the contract price represents in terms of the underlying physical grade, the delivery locations and the delivery period. Knowing these factors makes it possible for both the buyer and the seller to negotiate the contract price.
The below table contains the contract specification details for the current ASX grain market contract offering.
|NSW wheat||VW||Options on VW|
|WA wheat||WK||Options on WK|
|Eastern Australia feed barley||UB||Options on UB|
|Australian sorghum||US||Options on US|
|Eastern Australia canola||VC||Options on VC|
ASX has delisted the Greasy Wool and Fine Wool contracts and presently does not have any wool contracts listed.
In the case of any discrepancy between the contract specifications listed above and the respective Operating Rules, the Operating Rules prevail.