Fertilizer contracts cash settled against:
UREA - New Orleans (UNO, UNM)
UREA - Yuzhnyy (UYZ) 
UREA -Egypt (UNE)
DAP- Tampa (DTA)
DAP - New Orleans (DNO, DNM)

Lot Size

500mt  - UYZ, DTA, UNE
25st -  UNM, DNM, UAM


US Dollars 

Minimum tick

US $0.01

Fixed price

The traded price or the previous day's settlement price as supplied end of day by Cleartrade Exchange

Floating price

In respect of daily settlement, the floating price will be the end of day price as supplied by Cleartrade Exchange.

In respect of final settlement, the floating price will be the arithmetic average of the relevant weekly Fertilizer indices for that contract as supplied by Argus for that month.

Contract series

Front 6 months, 4 quarters


Last publication day of the relevant index in the contract month ie the last business Thursday of every month
Exception - December contracts will expire on the penultimate Thursday, as there is no publication of an index in the week prior to New Year
Where the last Thursday of the month is a non-business day, the expiry day will be the first business day preceding.


The first business day following the expiry day


Cash settled monthly against the average of all the relevant indices for that contract during the month

Business Days

UK Business Days