welcome to wsem group

World Steel Exchange Marketing,(WSEM)

Founded by World Steel Dynamics, WSEM 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, WSEM provides the trading public with information and guidance on how best to utilize futures, options and OTC swap financial tools. WSEM 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.

Futures Products

Nasdaq Futures (NFX)

NFX Hot-Rolled Coil (HRC)

NFX U.S. MIDWEST DOMESTIC HOT-ROLLED COIL STEEL FUTURES

AMM U.S. MIDWEST SHREDDED SCRAP STEEL FUTURES

NFX U.S. MIDWEST DOMESTIC HOTROLLED COIL STEEL

NASDAQ FUTURES, INC. (NFX) CONTRACT SPECIFICATIONS

CONTRACT NAME

NFX U.S. Midwest Domestic Hot-Rolled Steel Index Financial Futures*

DESCRIPTION

USD cash-settled NFX U.S. Midwest Domestic Hot-Rolled Steel Index Financial Futures are quoted in terms of USD per Short Ton, and are based on the arithmetic average of the daily price assessment published for the given month by AMM for the Midwest U.S. Hot-Rolled Coil Index.

CONTRACT SIZE

20 Short Tons

TICKER SYMBOL

HRCQ

CONTRACT LISTINGS

Monthly contracts for the current month and the next consecutive 23 months.

TRADING HOURS

Sunday – Friday 7:00 PM EPT – 6:00 PM EPT

TRADING PLATFORM

Nasdaq Futures Inc. (NFX)

MINIMUM PRICE INTERVAL/DOLLAR VALUE PER TICK

Screen: One Dollar ($1.00) per Short Ton = $20.00 per contract Block: One cent ($0.01) Per Short Ton = $0.20 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 for a particular contract month terminates on the last business day of the contract month. Trading ceases at 6:00 PM EPT.

FINAL SETTLEMENT

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

Final settlement price shall be equal to the arithmetic average of the daily price assessment published for the given month by AMM for the U.S. Midwest Hot-Rolled Coil Index.

CLEARINGHOUSE

The Options Clearing Corporation HRCQ

DISCLAIMER

NEITHER NASDAQ FUTURES, INC. ("NFX"), ITS AFFILIATES NOR EUROMONEY GLOBAL LIMITED ("EUROMONEY") OR ITS AFFILIATES GUARANTEES THE ACCURACY NOR COMPLETENESS OF THE PRICE ASSESSMENT OR ANY OF THE DATA INCLUDED THEREIN. NFX, ITS AFFILIATES OR EUROMONEY MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AS TO THE RESULTS TO BE OBTAINED BY ANY PERSON OR ENTITY FROM USE OF THE PRICE ASSESSMENT, TRADING AND/OR CLEARING BASED ON THE PRICE ASSESSMENT, OR ANY DATA INCLUDED THEREIN IN CONNECTION WITH THE TRADING AND/OR CLEARING OF THE CONTRACT, OR, FOR ANY OTHER USE. NFX, ITS AFFILIATES AND EUROMONEY MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AND HEREBY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE PRICE ASSESSMENT OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL NFX, ITS AFFILIATES OR EUROMONEY HAVE ANY LIABILITY FOR ANY LOST PROFITS OR INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

*Please consult the NFX Rulebook for complete contract specifications.

NFX AMM U.S. MIDWEST SHREDDED SCRAP STEEL FUTURES

NASDAQ FUTURES, INC. (NFX) CONTRACT SPECIFICATIONS

CONTRACT NAME

AMM MIDWEST U.S. SHREDDED STEEL SCRAP FUTURES

DESCRIPTION

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.

CONTRACT SIZE

10 Gross Tons (2240 lbs.)

TICKER SYMBOL

USSQ

CONTRACT LISTINGS

Up to 15 Consecutive Months

TRADING HOURS

Sunday – Friday 7:00 PM EPT – 5:00 PM EPT

TRADING PLATFORM

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

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.

CLEARINGHOUSE

The Options Clearing Corporation

* Please visit the Nasdaq Futures Rules page to access the NFX Reference Guides and Alert Information.

NFX Members

Market Symbols

Steel Options