Fertiliser

Teaser Picture Agriculturals

"Agricultural markets represent one of the largest sub asset classes in on-exchange commodity trading. Our products enable clients to manage their price risk on these markets while avoiding counterparty risk."

Sascha Siegel, Head of Agricultural Commodities

Fertiliser Futures

Physical fertiliser markets show high trading volumes, while price movements are influenced by a number of factors like weather conditions, warehouse stocks and fuel prices, natural gas in particular for nitrogen based fertilisers. A shift of markets to just-in-time-purchasing and price premiums for prompt supply lead to an increase of volatility in the spot markets and raised necessity to conduct risk management via derivatives. Derivatives such as swaps, futures and options provide participants the opportunity to react early to disadvantageous price movements.

EEX, in cooperation with CLTX, offers six different Fertiliser Futures for the European and US-American markets for trade registration. This allows all market participants to set up hedging strategies that lock in the price of delivery in advance. Our participants benefit from regulatory advantages, since EEX contracts in Fertiliser Futures are not cleared and settled as swap products but as futures on a regulated market. Furthermore, our clearing house European Commodity Clearing AG (ECC) provides for the accounting of margin requirements with positions in energy derivatives, e.g. natural gas, so that cost advantages can be achieved through cross-margining.

Advantages of trade registration at EEX

  • Instant access to over 250 potential counterparties worldwide
  • Direct participation of US based trading companies possible
  • Small lot sizes of 25 tons and multiples thereof
  • Cooperation with the leading fertiliser brokers in the OTC market
  • Fast and reliable Straight Through Processing (STP) for Trade Registration via EFETnet eXRP and Trayport Complete Clear®
  • Registration and clearing of futures contracts instead of swaps
  • Trades registered on a regulated market will not be considered for the EMIR clearing threshold
  • Cash settlement against market benchmarks as published by “The Fertilizer Index”
  • Safe clearing and settlement via the ECC clearing house
  • Cross-Margining with natural gas, power and other ECC cleared commodities
  • Post-trade services offered by ECC such as EMIR Trade Reporting

In addition to full EEX membership, the dedicated “Agricultural Products” membership for fertiliser which is free of charge at present, is available for trading fertiliser futures.

Fertiliser - Futures

The following fertiliser futures are available for trade registration:

  • EEX Urea (Granular) fob NOLA Future (The Fertilizer Index)*
  • EEX Urea (Granular) fob Egypt Future (The Fertilizer Index)*
  • EEX Urea (Prilled) fob Yuzhnyy Future (The Fertilizer Index)*
  • EEX DAP fob NOLA Future (The Fertilizer Index)*
  • EEX DAP fob Tampa Future (The Fertilizer Index)*
  • EEX UAN fob NOLA Future (The Fertilizer Index)*

At a glance

Trading hours

Product

Maturities

Lot size

Tick size

Fulfilment

Trade Registration
8:00 am to 6:00 pm (CET)

EEX Urea (Granular) fob NOLA Future (The Fertilizer Index)*

EEX DAP fob NOLA Future (The Fertilizer Index)*

EEX UAN fob NOLA Future (The Fertilizer Index)*

Up to 20 consecutive months

25 short tons

0.01 USD per ton

Cash settlement

Trade Registration
8:00 am to 6:00 pm (CET)

EEX Urea (Prilled) fob Yuzhnyy Future (The Fertilizer Index)*

EEX Urea (Granular) fob Egypt Future (The Fertilizer Index)*

EEX DAP fob Tampa Future (The Fertilizer Index)*

Up to 20 consecutive months

25 metric tonnes

0.01 USD per tonne

Cash settlement

* “THE FERTILISER INDEX”, “ARGUS” and the ARGUS Logo, “FERTECON” and the FERTECON Logo, “CRU” and the CRU Logo, are trade marks of Argus Media Limited, Fertecon Limited, and CRU International Limited, respectively, and are used under licence.  All copyrights, database rights and other rights in “The Fertilizer Index” report and “The Fertilizer Index” belong exclusively to Argus Media Limited, Fertecon Limited, and CRU International Limited, and are used under licence.  Argus, Fertecon and CRU give no warranties or representations as to the accuracy, adequacy, timeliness, fitness for purpose or completeness of “The Fertilizer Index” report or “The Fertilizer Index” and shall not be liable for any loss or damage arising from any party’s use or reliance on the same.  Argus, Fertecon and CRU take no position on the purchase or sale of contracts/products listed, traded or cleared on EEX, ECC (or any affiliates) including the EEX Urea (Granular) fob NOLA Future, EEX Urea (Granular) fob Egypt Future, EEX Urea (Prilled) fob Yuzhnyy Future, EEX DAP fob NOLA Future, EEX DAP fob Tampa Future and EEX UAN fob NOLA Future.  EEX and ECC are solely responsible for the operation of these products/markets and Argus, Fertecon and CRU exclude all liability in relation to thereto and in relation to any use of the “The Fertilizer Index” report or “The Fertilizer Index”.