All exchange traded futures and options have standard contract specifications. Without contract specifications it is impossible for the buyer and the seller to negotiate only the price of the contract. 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.
The below table contains the contract specification details for the existing ASX Grain Futures & Options contract offering.
|WA Wheat||Options on WK|
|Eastern Australia Feed Barley|
|Eastern Australia Canola|
In the case of any discrepancy between the Contract Specifications listed above and the respective Operating Rules, the Operating Rules prevail.
For further information, please refer to the ASX Grain Market Specification released on 19 August 2011.