Grain Futures Update - September 2009

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Welcome to the latest edition of the Grain Futures Update. ASX sends this newsletter each month to keep you informed about news and events that may be of interest to you.

Western Australia Wheat Futures and Options The Australian Securities Exchange (ASX) will list Western Australia Wheat Futures and Options (WAW) (PDF 88KB) on Monday 14 September 2009. Options on these futures contracts will be available to trade from Tuesday 15 September. The first contract maturity to be listed will be January 2010.

Market performance (PDF 125KB) The listing of the WAW contract follows a record level of market activity for the month of August, when more than 600,000 tonnes of Australian grain and oilseed futures contracts traded at ASX. In the current financial year 2009-2010, average daily volume for the grain market has been 25,540 tonnes.

Underlying Commodity ASX has received regulatory clearance to add to the list of Underlying Commodities: Western Australia Wheat The deliverable grade is Australian origin and is a minimum of GTA Wheat Standard APW2, Standard Reference number CSG-104, as specified by Grain Trade Australia (GTA) 'Wheat Standards' and tested in accordance with the GTA Receival Standard Procedures.

Approved Bulk Handler Co-operative Bulk Handling Limited (CBH) is now an Australian Clearing House (ACH) approved bulk handler. Delivery of WAW contracts will occur within the existing grain receival, logistics and stock entitlement arrangements established under CBH Grain Express. Further information concerning CBH Group.

New trading hours The new trading hours for the entire ASX Grain Futures and Options market will be effective from Monday 14 September 2009.

New special size To complement the new trading hours, the minimum size for special trades has been increased from 100 contracts to 200 contracts. The new special size is effective from Monday 14 September 2009.

New delivery fee (PDF 52KB) To improve invoice processing and simplify the delivery process, ACH will charge a new delivery fee of $10 per contract per side (50 cents per tonne) plus GST. This will be effective for deliveries against November 2009 contracts onward. The new delivery fee will incorporate title transfer fees that have to date been passed back to the party responsible for the transfer. WAW futures and options will be charged in line with the existing ASX Fee Schedule (PDF 52KB).

Margins ASX recently reviewed the Initial Margin rates for futures and Margin Intervals applied for options. The WAW contract will have the same rates as those applied for Australian Milling Wheat (AWM).

NOTICE © 2009 ASX Limited, 20 Bridge Street, Sydney NSW 2000, Australia. Ph. 131 279. All Rights Reserved. ASX Limited believes that all information contained herein is accurate and reliable. However no warranty of accuracy or reliability as to such information is given and no responsibility for loss arising in any way from or in connection with errors or omissions in any information (including responsibility to any person by reason of negligence) is accepted by ASX Limited, its subsidiaries or their employees. The information contained in this email should in no way be construed to constitute financial advice or a recommendation by ASX Limited with respect to the purchase or sale of any securities. Independent professional advice should be sought before making any investment decision.