Dairy Products

"The agricultural markets represent one of the largest sub-asset classes in 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

Why trade Agricultural Derivatives on EEX?

  • Hedging of price risks on the agricultural markets
  • Financial settlement of all transactions based on reliable reference prices
  • Access to a broad range of commodity products
  • Safe and reliable clearing and settlement processes via European Commodity Clearing (ECC)
  • Leading derivatives market for potatoes and dairy products in Europe

Financial settlement

All products will be settled financially upon maturity (cash settlement). In this process, reference prices adequately reflecting the value of the traded products are used. These price indices increase market transparency – also in the futures contracts.

Market price indices as the basis for prices on the dairy market

For the calculation of the index, recognised prices established in Germany, France and the Netherlands are used and combined into an unweighted average. As seen from a historical perspective, the correlation between these quotations is at a significantly high level. As a result, the indices reflect the market price of the referenced products within the European Economic Area.

Futures positions which are still open after the last day of trading are settled financially at the final settlement price. This corresponds to the respective market price index.

The European Whey Powder Index is provided by the Agrarmarkt Informations-Gesellschaft mbH (AMI) in Bonn.

EEX European Liquid Milk Index

The Index consists of prices determined in Germany, the Netherlands, Denmark and Ireland which are summarised into an unweighted average. They are based on the prices of the “Milk Market Observatory” of the European Commission as per (EU) No 2017/1185 Article 12 (a) – Annex II. 4(a). **

**In case one or more of the above-mentioned listings or price determinations (price information) are not available or implausible, EEX AG reserves the right to suspend one or more price information temporarily or permanently or to replace them with other price sources. EEX AG will announce temporary or permanent changes in these cases.

Futures positions which are still open after the last trading day will be settled in cash against the final settlement price which corresponds to the respective market price index.

Contract specifications*

All products are offered for exchange trading on EEX. In addition, transactions concluded over the counter can also be registered for clearing (Trade Registration). Clearing and settlement of all transactions are provided by ECC, the clearing house of EEX Group.

  • Butter Future

  • Skimmed Milk Powder Future

  • European Whey Powder Futures

  • European Liquid Milk Futures

*Please note that this document is exclusively intended for you information and is not legally binding. The legally binding contract specifications are available on the EEX website at Trading > Rules and regulations.