ICE Three Month ZARONIA Futures

ICE Futures Europe

ICE Three Month ZARONIA® Index Futures is a cash settled future based on a three-month ZAR deposit.

Trading Screen Product Name: ICE Three Month ZARONIA Futures
Trading Screen Hub Name: ICEU
Contract Symbol: ZAR
Underlying Index: ZARONIA
Contract: ZAR 10,000,000
Currency: South African Rand
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
Unit of Trading: ZAR 25,000 * Rate Index
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 06:00pm (London Local Time)
Minimum Price Fluctuation: All delivery months: 0.00250 (ZAR 62.50)
Wholesale Trade Types: Basis trading, Block Trading, Asset Allocation
Contract Standard: Cash settlement based on the Exchange Delivery Settlement Price.
Exchange Delivery Settlement Price: LTD+1

Overnight rate compounded in arrears over the Three-month accrual period
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

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