|Underlying Commodity||Eastern Australia (EA) Canola|
|ASX 24 Code||VC|
|Physical Grade||CSO1-a (AOF)|
New South Wales (Newcastle and Port Kembla) Track
|Contract Unit||20 metric tonnes|
|Quotation Tick Size||AUD $0.10 per tonne. Tick value of $2 per contract.|
|Settlement Months||January, March, May, July, September|
|Last Trading Day and Maturity Date||The third Thursday of the maturity month, provided this is a trading day.|
The Trading Hours for the ASX Grain Market changed on Monday December 2, 2013. For further information please refer to ASX 24 Notice 200/13.
Night Session: 5.00pm to 7.00pm
Trading ceases at 12pm on Maturity Date.
Pre-open starts 10 minutes prior to day session trading and 5 minutes prior to night session trading.
|Delivery Period||Begins on the second business day of the contract month and ends at 3pm on the Last Trading Day.|
|Notice Day||Any business day within the Delivery Period on which notice of delivery is given via lodgement of tender documentation with ASX Clearing Corporation.|
|Settlement Method||Physical delivery|
|Settlement Amount||The final Settlement Amount is calculated from the settlement price on the Notice Day. This price is adjusted for GTA Location Differentials, shrink, oil bonifications, admixture content, receival fees and GST.|
|Settlement Day||The business day following the Notice Day.|
Settlement Months – March 2014 onward
|Approved Warehouses and Delivery Locations||Any up-country location in NSW, Victoria and South Australia of an Approved Bulk Handler, tributary to the underlying track markets.|
|Premiums and Discounts||
Premiums and discounts paid on grower receival stack average data as per Approved Bulk Handler's stock report. The adjustments are based on the differences between the delivered (stack average) quality and the standard quality:
* AEDT commences the first Sunday of October and finishes the first Sunday of April
** When grain is initially received at a bulk handler depot, it is tested and the results are recorded. At the completion of harvest, each delivery depot has an average of the grain characteristics for each grain type. This is referred to as the grower receival stack average. The average is not a moving average but remains constant throughout the grain season. As is industry practice, when a futures contract is tendered and the grain is transferred from one party to another, the transfer and any associated premium and discount price adjustments are based on the grower receival stack average grain characteristics.
In the case of any discrepancy between this document and the ASX 24 Operating Rules and ASX Clear (Futures) Operating Rules the respective Operating Rules prevail.