Soybean

Options on Cash-settled FOB Santos (Platts) Soybean Futures

• The product

  Brazil is the largest producer and exporter of soybeans in the world and now, B3, the Brazilian stock exchange, has a risk management tool based on the price of Brazilian soy. The new contract is based on the export price at the port of Santos and financial settlement calculated in dollars per ton by the S&P Global Platts prices assessments. Investors who choose to operate the product will have more transparency in the negotiation and pricing process, in addition to a price that adheres to the Brazilian reality.

  New B3 Soybean Futures Contract. The derivative that drives and protects Brazilian agribusiness.

• Specifications

  Underlying	Bulk soybeans, FOB Santos, 60,000 metric tons.
  Ticker	SOY
  Option style	American
  Contract size	34 metric tons (t).
  Quotation	United States Dollars per metric ton (USD/mt), two decimal places.
  Tick size	USD 0.20 per metric ton (USD 6.80 per contract).
  Round-lot	1 contract
  Last trading day	The business day prior to the expiration date.
  Expiration date	The sixteenth day of the month prior to the contract month. If there is no trading session on that day, the expiration date is the day of the next trading session.
  Contract months	All months.
  Option exercise	"Options are exercised automatically by B3 on the expiration date on condition that: Call a) The difference between the settlement price for the futures contract and the option’s strike price is positive for the option holder b) The option holder does not register with the trading system its intention not to exercise the call on the expiration date. Put a) The difference between the option’s strike price and the settlement price of the futures contract is positive for the option holder b) The option holder does not register with the trading system its intention not to exercise the put on the expiration date."