Proposed Rule Amendments to SGX-DC Clearing Note: Changes are made in blue. Appendix 1 Final Settlement Price – Freight Forward Contracts: Dry Timecharter Basket Routes Products 4CTC 5CTC PTC STC HTC STC HTC 4CTC PTC Contract Half-Day Half-day Time Time Time Time Time Charter Charter Time Charter Time Time Basket Time Basket Charter Basket Charter Basket Basket Charter Basket Average Basket (4 (5 Basket 6 routes) Basket routes) Routes (4 routes) Final Arithmetic average of all Baltic's daily spot assessments in the Contract Month for the relevant underlying product, rounded to 1 decimal place Price Products Capesize Capesize Panamax Supramax Handysize Option (4 Option (5 Option Option Option routes) routes) Contract Capesize Time Capesize Time Panamax Time Supramax Time Handysize Time Charter Basket Charter Basket Charter Basket Charter Basket Charter Basket (4 routes) (5 routes) Average 6 Routes Option European Style: An option will be exercised automatically at expiry only if it is Exercise and Cash Settled: Upon exercise, a call option will have a value equal to final settlement price of the underlying FFA minus the strike price, multiplied by the contract size. Upon exercise, a put option will have a value equal to the strike price minus the final settlement price of the underlying FFA, multiplied by the contract size.
Proposed Rule Amendments to SGX-DC Clearing Note: Changes are made in blue. Appendix 1 – Final Settlement Price Freight Forward Contracts: Dry Timecharter Basket Routes Products 4CTC 4CTC 5CTC PTC PTC STC STC HTC HTC Contract Time Basket (4 routes) Time Basket (4 routes) Time Basket (5 routes) Time Charter Basket Time Charter Basket Time Charter Basket Half-Day Time Charter Basket Time Charter Basket Average 6 Routes Half-day Time Charter Basket Final Price Arithmetic average of all Baltic's daily spot assessments in the Contract Month for the relevant underlying product, rounded to 1 decimal place Products Capesize Option (4 routes) Capesize Option (5 routes) Panamax Option Supramax Option Handysize Option Contract Capesize Time Charter Basket (4 routes) Capesize Time Charter Basket (5 routes) Panamax Time Charter Basket Supramax Time Charter Basket Handysize Time Charter Basket Average 6 Routes Option Exercise and European Style: An option will be exercised automatically at expiry only if it is Cash Settled: Upon exercise, a call option will have a value equal to final settlement price of the underlying FFA minus the strike price, multiplied by the contract size. Upon exercise, a put option will have a value equal to the strike price minus the final settlement price of the underlying FFA, multiplied by the contract size.