Canola 1-month CSO28305081

Description

Canola 1-month Calendar Spread Options

Effective November 25, 2013

Market Specifications

Trading Screen Product Name
Canola 1-Month CSO
Trading Screen Hub Name
WCE
Symbol
RS1 (1 Month Series)

Determining the two futures months in a CSO pair requires knowing the Month Symbol of the first month in the pair. All canola CSOs are consecutive (1-month) calendar spread options. For example, if the Month Symbol for a CSO contract is K14 (or May 2014), the second month in the pair is N14 (or July 2014) – one contract month forward from the K14
Underlying Contract
A spread position between the two futures contract months.
Contract Size
Twenty (20) metric tonnes
Price Quotation
Canadian dollars and cents per metric tonne.
Contract Months
January, March, May, July and November.
1 Month Series: each of the first six listed futures months, paired with consecutive listed months.
Minimum Price Movement
10 cents per tonne
Option Style
American
Automatic Exercise Provisions
All options that are in the money
Daily Price Limit
None
Strike Price Intervals
Minimum Strike Price Increment will be $1.00.
First Trading Day
As required to fulfill the listing cycle noted above
Last Trading Day
Each CSO expires on the last trading day of the regular option on the earlier of the two contract months in the spread pair; for example, all CSO contracts for which the March 2014 future is the front month of the pair will expire on the last trading day of the March 2014 regular option.
Call Option
Buyer of a CSO Call Option has the right to establish a spread position of long the first futures month in the spread pair and short the second futures month in the spread pair, at a price difference equal to the Strike Price of the CSO contract
Put Option
Buyer of a CSO Put Option has the right to establish a spread position of short the first futures month in the spread pair and long the second futures month in the spread pair, at a price difference equal to the Strike Price of the CSO contract.
Strike Price
The Strike Price of a CSO contract can be positive (indicating the price of the front month is above the price of the back month in the pair), negative (indicating the price of the front month is below the price of the back month in the pair) or zero (indicating the prices of the two months in the pair are the same).
MIC Code
IFCA
Clearing Venues
ICCA
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Trading Hours

CityTradingPre-Open
New York8:00 PM - 2:20 PM*
20:00 - 14:20
7:30 PM
19:30
London1:00 AM - 7:20 PM*
01:00 - 19:20
12:30 AM
00:30
Singapore9:00 AM - 3:20 AM*
09:00 - 03:20
8:30 AM
08:30

*Next Day

Codes

Clearing Admin Name
Canola
Physical
RS1
Logical
RS1
GMI(FC)
R&N A.C.N.