Paper
Paper and packaging futures on NOREXECO: Recovered Paper OCC 1.04 (Europe) and related contract specifications.
| Underlying Product | Fastmarket FOEX PIX Old Corrugated Containers, Recycled Paper OCC, Grade – corrugated paper and board (CEN 1.04). Terms and definitions according to EN 643. Terms of delivery: d/d at buyers mill/warehouse in Europe denominated in EUR. Material sorted. Terms of payment: 30 days or other term of payment which is used in the majority of sales/purchases. Net transaction price. Price for recovered paper to be delivered still within the month of the sale/purchase and latest during the following month. Custom and other duties paid, excluding VAT. |
| Benchmark Administrator | Fastmarkets Global Limited |
| Codes | MiFID II Venue Product Code: OCC104_Europe / ECC product code: NFOM Ticker code prefix: OCC / : NFOM |
| Monthly Sequences | All products traded are legally monthly Products. |
| Lot Size | 1 Lot equals 1 MT. |
| Minimum Tradable Volume | 100 MT per month. |
| Volume Tick Size | 100 MT per month. |
| Minimum Block Trade Size | 500 MT per month. |
| Contract Unit | The Contract Volume is MT per month Recovered paper OCC * number of months of the Contract. |
| Contract Price | In EUR/MT with two decimal places. |
| Minimum Price Fluctuation | The minimum price fluctuation is 1.00 EUR/MT. |
| Trading Days | Norwegian trading calendar. Please see Attachment 1 to this Appendix. |
| Index Day | Tuesdays within the month. Index is released at 12:00 Finland time (CET + 1). |
| Last Trading Day | The Last Trading Day is the last Index Day of the month. If the last Index day of the month is not a Norwegian business day, the Last trading day is the Norwegian business day prior to the last Index day. Please see figure 1 in this Appendix. |
| Final Settlement | Final settlement takes place on the first Settlement Day after the Last trading day (T+1). Final settlement is based on the monthly NOREXECO Final Settlement Index (NFSI) which will be published at 11.00 CET on the Last trading day. NFSI is the arithmetic mean, two decimals rounded, of the weekly PIX Recovered paper OCC indices included in the month. See Appendix 7 – Final Settlement and Daily Settlement Prices. |
| Daily Settlement Prices | Daily Settlement prices are calculated according to the Rulebook Appendix 7 – Final Settlement and Daily Settlement Prices. |
| Price Index (PIX) | Fastmarket FOEX PIX Old Corrugated Containers, Recycled Paper OCC. |
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