welcome to wsem group
World Steel Exchange Marketing,Founded by World Steel Dynamics, develops and supports futures contracts in steel and iron ore products on the Nasdaq Futures (NFX). In addition to developing and promoting steel and iron ore contracts, World Steel provides the trading public with information and guidance on how best to utilize futures, options and OTC swap financial tools. World Steel staff seeks to develop strong relationships with commercial steel buyers and sellers, banks, brokers, and institutional investors that have an interest in mitigating commercial risk through hedging, and or investing in outright positions or otherwise in steel, iron ore and related products.
NASDAQ FUTURES, INC. (NFX) CONTRACT SPECIFICATIONS
AMM MIDWEST U.S. SHREDDED STEEL SCRAP FUTURES
USD cash-settled NFX US Shredded Scrap Steel Financially Settled Futures are quoted in terms of USD per Gross ton, and are based on AMM / Metal Bulletin US Midwest Shredded Scrap Steel Price Index.
10 Gross Tons (2240 lbs.)
Up to 15 Consecutive Months
Sunday – Friday 7:00 PM EPT – 5:00 PM EPT
Nasdaq Futures Inc. (NFX)
MINIMUM PRICE INTERVAL/DOLLAR VALUE PER TICK
Fifty cent ($0.50) $5.00 per Gross Ton = $5.00 per contract Block: One cent ($0.01) Per Gross Ton = $0.10 per contract
DAILY SETTLEMENTS PRICES
Daily settlement prices will be determined by NFX using price data from a number of sources including, spot, forward and derivative markets for both physical and financial products.
LAST TRADING DAY
Trading shall cease at 5:00 PM EPT on the tenth calendar day of the month or the last business day prior to the 10th calendar day of the month.
Final settlement for contracts held to expiration is by cash settlement in U.S. dollars.
FINAL SETTLEMENT DATE
The Final Settlement Date is the second day on which the Options Clearing Corporation is open for settlement following the Last Trading Day.
FINAL SETTLEMENT PRICE
The final settlement price will be based on the AMM /MB US Midwest Shredded Steel Price Index.
The Options Clearing Corporation
* Please visit the Nasdaq Futures Rules page to access the NFX Reference Guides and Alert Information.