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Agricultural Indexes Contract Specifications

Hard Red Winter Wheat Index (HRWI), Soft Red Winter Wheat Index (SRWI),

Hard Red Spring Wheat Index (HRSI), National Corn Index (NCI), National Soybean Index (NSI)

 

FUTURES

TRADING HOURS

NCI, NSI, HRWI, SRWI, HRSI

7:00 p.m. to 1:45 p.m. (CT) Sunday - Friday

CONTRACT UNIT

5,000 Bushels

CONTRACT MONTHS

All 12 Months

UNDERLYING ASSETS

NCI - Based on bids for U.S. No. 2 yellow corn

NSI - Based on bids for U.S. No. 1 yellow soybeans

HRWI - Based on bids for U.S. No. 1 hard red winter wheat

SRWI - Based on bids for U.S. No. 2 soft red winter wheat

HRSI - based on bids for U.S. No. 1 hard red spring wheat

All indexes are calculated and confirmed by TelventDTN

MINIMUM PRICE FLUCTUATION

1/4 cent per bushel ($0.0025) or $12.50 per contract

DAILY PRICE LIMIT

NCI

35 cents per bushel; No limit in the spot month

NSI

80 cents per bushel; No limit in the spot month

HRWI, SRWI, HRSI

60 cents per bushel; No limit in the spot month

POSITION LIMITS

NCI

13,500 single/settlement month; 22,000 all months combined; 25 reportable level

NSI

6,500 single/settlement month (except during last 5 trading days when limit is 5,600); 10,000 all months combined; 25 reportable level

HRWI

5,000 single/settlement month; 6,500 all months combined; 25 reportable level

SRWI

5,000 single/settlement month (except during last 5 trading days when limit is 2,750); 6,500 all months combined; 25 reportable level

HRSI

5,000 single/settlement month (except during last 5 trading days when limit is 3,400); 6,500 all months combined; 25 reportable level

LAST TRADING DAY

The last business day of the settlement month. Final settlement occurs on the next business day following the last trade date.

SETTLEMENT

Cash settlement based upon the simple average of the NCI, NSI, HRWI, SRWI or HRSI prices published on the last three trading days of the settlement month using standard rounding techniques and rounded to the nearest 1/4 cent. ($0.0025)

TICKER SYMBOL

NCI - IC

NSI - IS

HRWI - IH

SRWI - IW

HRSI - IP

 

OPTIONS

TRADING HOURS

NCI, NSI, HRWI, SRWI, HRSI  

7:00 p.m. to 1:45 p.m. (CT) Sunday - Friday

CONTRACT MONTHS

All 12 months

UNDERLYING ASSET

One MGEX NCI, NSI, HRWI, SRWI or HRSI futures contract

MINIMUM PRICE FLUCTUATION

1/8 cent per bushel ($0.00125) or $6.25 per contract

DAILY PRICE LIMIT

NCI

35 cents per bushel; No limit in the spot month

NSI

80 cents per bushel; No limit in the spot month

HRWI, SRWI, HRSI

60 cents per bushel; No limit in the spot month

POSITION LIMITS

NCI

13,500 single/settlement month 22,000 all months combined (futures-equivalent basis); 25 reportable level

NSI

6,500 single/settlement month (except during last 5 trading days when is limit is 5,600); 10,000 all months combined (futures-equivalent basis); 25 reportable level

HRWI

5,000 single/settlement month 6,500 all months combined (futures-equivalent basis); 25 reportable level

SRWI

5,000 single/settlement month (except during last 5 trading days when limit is 2,750); 6,500 all months combined (futures-equivalent basis); 25 reportable level

HRSI

5,000 single/settlement month (except during last 5 trading days when limit is 3,400); 6,500 all months combined (futures-equivalent basis); 25 reportable level

LAST TRADING DAY

The last business day of the settlement month

EXPIRATION DAY

Business day following the last trading day

AUTOMATIC EXERCISE

Based upon the NCI, NSI, HRWI, SRWI, HRSI cash settlement, the Clearing House shall automatically exercise all in-the-money options unless notice to cancel automatic exercise is given to the Clearing House

EXERCISE STYLE

American

TICKER SYMBOLS

NCI - OIC

NSI - OIS

HRWI - OIH

SRWI - OIW

HRSI - OIP

Specifications and information contained herein are subject to change without notice. The rules
and regulations of the exchange should be considered as the authoritative source on Market
Regulation issues.




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