Business day preceding the Declaration Day of the relevant month before 18:00
Last matching and registration
18:15 on the penultimate trading day of the prompt month
Declaration date/time
Automatic declaration of in-the-money TAPOs at 15.00 on the last business day of the TAPO month
Premium tick size
0.01 USD (one cent)
Minimum strike price movement
USD $1
Exercise of the option
LCH.Clearnet auto exercise TAPOs. Exercise will result in two futures contracts, one at the strike price and the other at the Monthly Average Settlement Price (MASP). The effect is to generate a cash settlement which is settled on the second business day after the Declaration Day for the TAPO month
This is a summary of the contract specifications. For full contract specification details, please refer to the LME Rulebook which details the complete rules and regulations of LME contracts.
LME contracts may only be offered or sold to United States foreign futures and options customers by firms registered with the Commodity Futures Trading Commission (CFTC), or firms who are permitted to solicit and accept money from foreign futures and options customers from trading on the LME pursuant to CFTC Rule 30.10.
Arbitration
In the case of unresolved disputes, arbitration is effected via the LME arbitration procedure, and/ or by other body agreed by the parties.
Primary Aluminium Contract Specifications Effective from August 2009 DOWNLOAD( PDF KB )
