ICE Three Month ZARONIA Futures83049329
ICE Futures Europe
ICE Three Month ZARONIA Futures
Description
ICE Three Month ZARONIA® Indexed Futures is a cash settled future based on the ZAR interest rate accrued over a three-month IMM period.
Market Specifications
- Trading Screen Product Name
- ICE Three Month ZARONIA Futures
- Trading Screen Hub Name
- ICEU
- Contract Symbol
- ZAR
- Underlying Index
- ZARONIA
- Unit of Trading
- ZAR 25,000 * Rate Index
- Delivery Month
- March, June, September, December such that 17 delivery months are available for trading.
Contract Delivery Months are named by the start date of the accrual period.
- Quotation
- 100.00 minus the numerical value of the rate of interest
- Minimum Price Fluctuation
- All delivery months: 0.00250 (ZAR 62.50)
- Last Trading Day
- Trading will cease one business days prior to the third calendar month after the start of the accrual period.
Trading will cease at 18:00 (London Local Time)
- Exchange Delivery Settlement Price
- The next business after the Last Trading Day.
Overnight rate compounded in arrears over the Three-month accrual period. - Algorithm
- Central order book applies a gradual time based pro-rata (GTBPR) matching algorithm with a time-weighting of 2 and with priority given to the first order at the best price subject to a minimum order size (collar) and limited to a maximum order size (cap).
- First Accrual Date
- Third Wednesday of the Delivery Month
- Last Accrual Date
- Business day prior to the Third Wednesday of the third calendar month after the start of the First Accrual Day
- Wholesale Trade Types
- Basis trading, Block Trading, Asset Allocation
- Contract Standard
- Cash settlement based on the Exchange Delivery Settlement Price.
- Disclaimer
- The contracts have a standardized basis point value so that, for hedging purposes, a calculation will need to be made in relation to the hedge ratio to take into account any mismatch between the standardized basis point value and the actual basis point value of the position being hedged, determined by the actual number of days in the accrual period.
- MIC Code
- IFLL
- Clearing Venues
- ICEU
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 8:00 PM - 4:00 PM* 20:00 - 16:00 | 7:45 PM 19:45 |
| LONDON | 1:00 AM - 9:00 PM 01:00 - 21:00 | 12:45 AM 00:45 |
| SINGAPORE | 8:00 AM - 4:00 AM* 08:00 - 04:00 | 7:45 AM 07:45 |
Codes
- Clearing Admin Name
- ZAR Rates
- Physical
- ZAR
- Logical
- ZAR
- GMI (FC)
- ION A.C.N.
- Symbol Code
- ZAR