The future contracts are daily marked-to-market and cash settled contracts with no physical delivery. The settlement is against the average spot price in the delivery period.
Option contracts offered for seafood is Asian style average priced options with automatic exercise of all in-the-money options at the last day of the settlement period. The option premium is cash settled on the first settlement day following the trading day.
For full product specifications, see the Rulebook Appendix 5.
Seafood | Underlying products | Futures | Options |
Salmon | Superior, gutted, fresh salmon, iced and packed in boxes and delivered FCA Oslo | X | X |
Underlying |
Index |
Index Provider |
Closing Price Provider |
Price quotation |
NOK/kg |
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Minimum price fluctuation |
0.01 NOK/kg |
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Contract value |
Lots x Lot size x Price |
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Delivery Period
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Month: 4 or 5 weeks in the relevant month as defined by Fish Pool in Appendix 1 (Product Specification) to the Fish Pool Rulebook. Quarter: A Quarter Contract is split equally into 3 Month Contracts on the trading day and settled as Month Contracts. Year: A Year Contract is split equally into 12 Month Contracts on the trading day and settled as Month Contracts. |
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Final Settlement Day |
The second Friday after the Delivery Period. If this date is not a Settlement Day, the Final Settlement Day is defined as the nearest Settlement Day prior to the second Friday. |
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Settlement Price |
The arithmetic average of the Spot Prices for the relevant Underlying in the Delivery Period. |
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Lot size |
1 lot = 1,000 kg |
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Minimum lots per contract |
0.1 lot in all Products |