Contract specification: Fine Wool Futures (19 micron)
ASX 24 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 ASX 24 Operating Rules and in the case of inconsistency, the ASX 24 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.|
|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).|
|Final Trading Day||The third Thursday of each Settlement Month, or if that is not a Business Day then the Business Day immediately preceding the third Thursday of the Settlement Month. 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.|
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)#
The cash settlement price shall be the ASX 24 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 ASX Clear (Futures) at the cash settlement value.
* Trading hours - Australian Eastern Standard Time / Australian Eastern Daylight Time
# US daylight saving begins second Sunday in March and ends first Sunday in November.
Last Modified 15/07/11 (Final Trading Day wording amended)