Euronext Paris SA calculates the Daily Settlement Price of Milling Wheat (EBM), Rapeseed (ECO), Corn (EMA), European Durum Wheat (EDW), European Milling Wheat v SRW Chicago Wheat (BCS), European Milling Wheat v KC HRW Wheat (BKS) and Milling Wheat v Corn (BMS) by taking a feed of reported prices for a period known as the “Settlement Range”*. This period is set by product in the table below. Euronext Paris S.A will also monitor market activity throughout the Trading Day to ensure that settlement prices are a fair reflection of the market.
| Settlement Range of 2 minutes before the end of the Trading session | Milling Wheat (EBM) Rapeseed (ECO) |
|---|---|
| Settlement Range of 5 minutes before the end of the Trading session | Corn (EMA) |
| Settlement Range of 10 minutes before the end of the Trading session | European Durum Wheat (EDW) European Milling Wheat v SRW Chicago Wheat (BCS) European Milling Wheat v KC HRW Wheat (BKS) Milling Wheat v Corn (BMS) |
The Daily Settlement Price is calculated as the volume-weighted average of the prices of trades made during the Settlement Range, rounded to the nearest tick.
If there are no traded prices within the Settlement Range Euronext Paris SA will consider the following criteria, where applicable :
- the price of the last trade made during the Trading Day;
- the price midway between the active bids and offers at the time the settlement price is calculated, rounded to the nearest tick;
- price levels as indicated by spread relationships with other expiries of the same contract.
* For the daily settlement price of Euronext Salmon Futures (ESF), please refer to the contract’s technical specifications.