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SGX SICOM TSR20
FUTURES AND OPTIONS CONTRACT SPECIFICATIONS
| SGX SICOM TSR20 Futures | SGX SICOM TSR20 Options | |
|---|---|---|
| Product Type | Futures | Options |
| Product Category | Rubber | Rubber |
| Ticker Symbol | TF | Calls – CTF; Puts – PTF |
| Contract Size | 5 metric tonnes | 5 metric tonnes |
| Minimum Price Fluctuation | 0.1 US cent per kg | 0.1 US cent per kg |
Contract Months |
12 months starting with current month, with next consecutive month added upon each month's expiry. |
11 serial months |
Delivery Units |
20.16 metric tonnes of TSR20 manufactured from rubber produced from the Hevea Brasiliensis trees by factories approved by SICOM from time to time and shall be packed in accordance with SICOM's prevailing shrink-wrap packing specifications. | N.A. |
| Quotation | US cents per kg | US cents per kg |
| Tick Value | USD 5 | USD 5 |
Trading Hours (Singapore Time) |
T+1 session: 6.15pm - 11.00pm NLT Note: After the close of the T-session, there will be a 30min grace window for participants to continue registering T-session trades. |
NLT Note: After the close of the T-session, there will be a 30min grace window for participants to continue registering T-session trades. |
Trading Hours on Last Day |
NLT Note: After the close of the T-session, there will be a 30min grace window for participants to continue registering T-session trades. |
NLT Note: After the close of the T-session, there will be a 30min grace window for participants to continue registering T-session trades. |
Last Trading Day |
Last day of trading of the month preceding the Delivery Month. |
The last Business Day of the month preceding the Last Trading Day of the underlying SGX SICOM TSR 20 (FOB) Rubber Futures contract. |
Daily Price Limits |
If the price of any contract month moves 10% above or below the previous day's settlement price, it will trigger a 15 minutes Cooling Off Period during which trading may only take place at or between the Upper Limit and Lower Limit. After the termination of the Cooling Off Period, there shall be no price limits for the remainder of the trading hours for the day. There is no price limits on the Last Trading Day for an expiring contract. |
N.A. |
| Methods of Delivery | Delivery will be made, at the Buyer's option, either on Warehouse Delivery or FOB terms at port of loading. | N.A. |
Settlement Basis |
Physical Delivery | In-the-money options will be automatically exercised on expiry into relevant underlying futures positions, which will then be cash-settled based on the final settlement price methodology of the relevant futures contract. |
Delivery Period |
Generally at any time of the delivery month but not earlier than the fourteenth business day of the delivery month. Specifics depend on the method of delivery and when delivery instructions are issued. | N.A. |
Ports of Loading |
The Port of Loading will be at Seller's Option. The list of designated ports are Singapore, Klang, Penang, Palembang, Surabaya, Belawan, Bangkok and Laem Chabang. | N.A. |
Position Accountability / Position Limit |
Subject to Rule 4.1.18 of the Trading Rules, a person owning or controlling any combination of trading lots that exceed such position as the Exchange may prescribe from time to time with prior notification, net on the same side of the market, and in all Contract Months combined (except for the First Contract Month), shall provide, in a timely fashion, upon request by the Exchange, information regarding the nature of the position, trading strategy, and hedging information if applicable. A person shall not own or control more than 2,000 trading lots net long or net short in the First Contract Month, unless otherwise permitted by the Clearing House in respect of its member, who is carrying the account of that person. For the purposes of this Section: (i) the prescribed position limit and position accountability threshold shall apply to aggregate positions owned or controlled by a person in the TSR 20 Contracts and the SGX TSR 20 Options; (ii) for the purpose of calculation, the futures-equivalent of an SGX TSR 20 Options is the relevant option delta computed by the Clearing House for the option series; and (iii) the positions of all accounts owned or controlled by a person or persons deemed to be acting in concert or in which such person or persons have a proprietary or beneficial interest shall be aggregated. Position Accountability Threshold (non-spot months) (Lots): 5,000 |
Unless otherwise prescribed by the Exchange, there shall be no Position Limits. However, subject to Rule 4.1.18 of the Trading Rules, a Person owning or controlling any combination of Option Contracts and Futures Contracts that exceeds such position as the Exchange may prescribe from time to time with prior notification, net on the same side of the market, and in any or all Contract Months combined, shall provide, in a timely fashion, upon request by the Exchange, information regarding the nature of the position, trading strategy, and hedging information if applicable. Position Accountability Threshold (non-spot months) (Lots): 5,000 |
| Negotiated Large Trade | 60 lots | 20 lots |
| Bloomberg Ticker Code | ORA Comdty | ORA Comdty OMON |
| Refinitiv Ticker Code | STF <F3> | 0#STF+ |
Option Exercise |
European Style: An option may be exercised by the buyer only at expiry. Exercise for a call buyer or a put seller results in a long SGX SICOM TSR 20 (FOB) Rubber Futures position which corresponds with the option's contract month at a value equal to the strike price, while the exercise for a put buyer or a call seller results in a short SGX SICOM TSR 20 (FOB) Rubber Futures position at a value equal to the strike price. An option that is in-the-money and has not been liquidated prior to the termination of trading shall be exercised automatically. |
