SFE Fine Wool Futures (19 Micron) - Contract Specification

The SFE takes no responsibility for any errors or omissions or losses consequential or otherwise arising from actions based upon this information. The information published here does not substitute for the SFE Operating Rules and in the case of inconsistency, the Operating Rules prevail.

Contract Unit The equivalent of 2,500 kilograms clean weight of merino combing fleece (approximately 20 farm bales).
Contract Months February, April, June, August, October, December up to 18 months ahead.
Commodity Code FW
Listing Date 19/01/1998
Minimum Price Movement Prices are quoted in cents per kilogram clean weight. ( The minimum fluctuation of 1 cent per kilogram is equal to A$25 per contract).
Last Trading Day The last business day of trading will be publicised by SFE. Trading ceases at 12.00 noon.*
Settlement Day The cash settlement day of the contract will be the first business day after the final trading day.
Trading Hours

5.10 pm - 7.00 am and 10.30 am - 4.00 pm* (during US daylight saving time)#

5.10 pm - 7.30 am and 10.30 am - 4.00 pm* (during US non daylight saving time)#

Settlement Method

The cash settlement price shall be the SFE 19 micron clean indicator price published by the Australian Wool Exchange (AWEX). The cash settlement value is the cash settlement price multiplied by 2,500. All bought and sold contracts in existence as at the close of trading in the contract month, shall be settled by the Clearing House at the cash settlement value.

Last Modified 11/04/02

* Unless otherwise indicated, all times are Sydney times.

# US daylight saving begins second Sunday in March and ends first Sunday in November.