Grade – Supermarket corrugated paper and board (CEN 1.04). Terms and definitions according to EN 643. Terms of delivery: d/d at buyers mill/warehouse in Europe denominated in EUR.

Material sorted. Terms of payment: 30 days or other term of payment which is used in the majority of sales/purchases.

Net transaction price. Price for recovered paper to be delivered still within the month of the sale/purchase and latest during the following month. Custom and other duties paid, excluding VAT.

OCCNOREXECO Recycled Paper OCC Future
Underlying ProductFastmarket FOEX PIX Old Corrugated Containers, Recycled Paper OCC, Grade – corrugated paper and board (CEN 1.04).
Terms and definitions according to EN 643. Terms of delivery: d/d at buyers mill/warehouse in Europe denominated in EUR. Material sorted. Terms of payment: 30 days or other term of payment which is used in the majority of sales/purchases. Net transaction price. Price for recovered paper to be delivered still within the month of the sale/purchase and latest during the following month. Custom and other duties paid, excluding VAT.
Benchmark Administrator is Fastmarkets FOEX, Finland.
CodesMiFID II Venue Product Code: OCC104_Europe / ECC product code: NFOM Ticker code prefix: OCC / : NFOM
Monthly sequencesAll products traded are legally monthly Products.
Position Lot size1 Lot equals 100 MT. (MiFID II value in relation to RTS 21 Position limits)
Minimum tradable volume100 MT per month.
Volume tick size100 MT per month.
Minimum Block Trade size500 MT per month.
Contract VolumeThe Contract Volume is MT per month Recovered paper OCC * number of months of the Contract.
Contract PriceIn EUR/MT with two decimal places.
Minimum Price Fluctuation (“tick size”)The minimum price fluctuation is 1.00 EUR/MT.
Trading daysNorwegian trading calendar. Please see Attachment 1 to this Appendix.
Index DaysTuesdays within the month. Index is released at 11:00 Finland time (CET + 1).
Last trading dayThe Last Trading Day is the last Index Day of the month. If the last Index day of the month is not a Norwegian business day, the Last trading day is the Norwegian business day prior to the last Index day. Please see figure 1 in this Appendix.
Final SettlementFinal settlement takes place on the first Settlement Day after the Last trading day (T+1).
Final settlement is based on the monthly NOREXECO Final Settlement Index (NFSI) which will be published at 11.00 CET on the Last trading day. NFSI is the arithmetic mean, two decimals rounded, of the weekly PIX Recovered paper OCC indices included in the month. See Appendix 7 – Final Settlement and Daily Settlement Prices.
Daily settlement pricesDaily Settlement prices are calculated according to the Rulebook Appendix 7 – Final Settlement and Daily Settlement Prices.