Over the coming weeks we will be changing the rules for contract expiry on a range of commodities forwards and bonds. The changes, and when they apply, are listed below.
Note: the 'First contract' column lists the forward for that commodity/bond to which the new expiry rule will apply. 'Date on which current rule expires' gives the closing date of the last forward operating under the old expiry rule.
| Market name | Current expiry rule | Date on which current rule expires |
New rule | First contract |
|---|---|---|---|---|
| Sugar No.11 World (New York) | Last bus. day of prev. month | 09/04/2011 | Penultimate bus. day of the prior month | July 2011 |
| Heating Oil | Last bus. day of prev. month | 30/04/2011 | Penultimate bus. day of the prior month | June 2011 |
| No Lead Gasoline | Last bus. day of prev. month | 30/04/2011 | Penultimate bus. day of the prior month | June 2011 |
| US Light Crude | Current and next month 3rd trading day prior to 25th calendar day of prev. month | 21/05/2011 | 4th bus. day before the 25th of the prior month | July 2011 |
| Brent Crude Oil | 1st or 2nd bus. day preceding 15th day prior to 1st day of delivery month | 15/06/2011 | 2nd business day prior to the 15th day before 1st of the month | August 2011 |
| London Sugar No.5 | 1st Fri. or prev. bus. day of prev. month | 09/04/2011 | 2nd Thursday of prior month | August 2011 |
| German Bund | 2 trading days before the 10th calendar day | 09/04/2011 | 3rd bus. day before the 10th of the month | September 2011 |
| German Bobl | 2 trading days before the 10th calendar day | 09/04/2011 | 3rd bus. day before the 10th of the month | September 2011 |
| German Schatz | 2 trading days before the 10th calendar day | 09/04/2011 | 3rd bus. day before the 10th of the month | September 2011 |
| German Buxl | 2 trading days before the 10th calendar day | 09/04/2011 | 3rd bus. day before the 10th of the month | September 2011 |