NASAAC
The NASAAC contract was first traded in October 1992 when it's current specification was introduced to the market.
The ring trading times for NASAAC are as follows:
Ring trading times for NASAAC
| Ring |
Time |
| Ring 1 |
11.45-11.50 |
| Ring 2 |
12.35-12.40 (Official Ring) |
| Kerb |
13.15-15.10 |
| |
| Ring 3 |
14.55-15.00 |
| Ring 4 |
16.10-16.15 |
| Kerb |
16.15-17.00 |
For details of the NASAAC registered brands, please see the LME website.
Current Sempra prices:
The prices quoted do not constitute an offer by Sempra Metals Limited to buy or sell any product.
| LME NASAAC Futures Contract Specification |
| Contract |
Aluminium alloy conforming to the 'LME NA380.1' specification (an LME modification of The Aluminium Association Inc. A380.1 specification (1989)) |
| Lot size |
20 tonnes (with a tolerance of +/- 2%) |
| Form |
- Ingots
- Small sows (four-way entry sows)
- Large sows (low profile sows)
- T-bars
|
| Weight |
- 9 - 38 lbs (4 - 17.3 kgs) pieceweight. 500 - 1000kgs (1,100-2,200lbs) bundleweight
- 900 - 1,300 lbs (408 - 590 kgs) pieceweight
- 1,100 - 1600 lbs (500 - 726 kgs) pieceweight
- 900 - 1,600 lbs (408 - 726 kgs) pieceweight
|
| Delivery dates |
Daily from cash to 3 months (first prompt date two working days from cash). Then every Wednesday from 3 months to 6 months. Then every third Wednesday from 7 months out to 27 months forward. |
| Quotation |
US dollars per tonne |
| Minimum Price Movement |
- Ring - Outright $0.50, Carries $0.01
- LME Select - Outright $0.25, Carries $0.01
- Inter-office - Outright/Carries $0.01
|
| Clearable currencies |
- US dollar
- Japanese Yen
- Sterling
- Euro
|
| LME NASAAC Options Contract Specification |
| Delivery dates |
Monthly from the first month out to 27 months |
| Value date |
The third Wednesday of the prompt month |
| Exercise date |
The first Wednesday of the prompt month |
| Premium quotation |
US dollars per tonne |
| Strike price |
- $25 gradations for strikes from US$25 to US$3975
- $50 gradations for strikes form US$4000 to US$7950
- $100 gradations for all strikes over $US8000
|
| LME Traded Average Price Options Specification |
| Contract date |
The business day on which the contract is traded |
| Contract period |
Calendar months up to 15, 27 or 63 months forward (in line with the underlying futures contracts).
The inclusive period between the first business day and the last business day of the traded month. |
| Option type |
Calls & puts based on the monthly average settlement price (MASP) |
| Currency & strike price |
US dollars; $1 gradations |
| Premium tick size |
0.01 USD (one cent) |
| Premium payment |
Next business day after contract is traded |
| Settlement date |
Settlement is two business days after exercise.
The futures trades settle as per LME rules & regulations. |