|Name||Ordinary Options over Australian Sorghum Futures Contract|
|Contract Unit||An Australian Sorghum Futures Contract. (20 tonnes)|
|Manner of Quoting Contract Premium||Australian Dollars per tonne.|
|Minimum fluctuations to be used in quoting Contract Premium||AUD $0.10 per tonne. (Tick value $2 per contract.)|
|Manner of Quoting Exercise Price||Australian Dollars per tonne.|
|Minimum fluctuations to be used in quoting Exercise Price||Multiples of $5|
|Creation of new Exercise Prices||New Exercise Prices are created as the underlying futures contract price moves, at $5 intervals.|
|Expiry Months||February, April, June, August, October, December|
|Listing Schedule||There are five Expiry Months listed at anytime. Options listed are for the nearest four Expiry Months and the next New Crop month at anytime. New Crop defined as May (for Futures) (April for Options).|
|Declaration Date||The fifteenth Trading Day of the month immediately prior to the underlying futures contract Settlement Month.|
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
All times are AEST / AEDT*
Pre-open starts 10 minutes prior to day session trading and 5 minutes prior to night session trading.
|Time at which trading ceases on Declaration Date||Trading ceases at 4.30pm (AEST/AEDT) on Declaration Date.|
|Automatic Exercise||Unless otherwise manually excluded from exercise, in the money options are automatically exercised at expiry.|
|Final time for lodgement of Request or Deny Automatic Exercise Request||
Unexercised option positions shall expire at 4.30pm (AEST/AEDT) on the Declaration Date.
Clearing Participants have until 4.30pm to notify ASX Clear (Futures) whether they would like to exercise.
On any day other than the Declaration Date, Clearing Participants have up to 20 minutes after close of trading.
|Premium||Premium paid in arrears (futures style).|
|Exercise Style||American Style, i.e. exercisable on or before the Declaration Date.|
|Type||Call and Put Options|
|Settlement on Exercise||Creation of the underlying position in Australian Sorghum Futures.|
|Undesirable Situations||If an undersirable situation within the meaning of Rule  is developing or has developed, then the provisions of that Rule  shall apply and any provision of these Operating Rules which cannot be complied with until the value or price has been declared shall be complied with as soon as possible after it has been declared.|
* AEDT commences the first Sunday of October and finishes the first Sunday of April
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.