NOK/USD Futures
Normal Daily Settlement
The daily settlements of NOK/USD futures (NOK) are determined by CME Group staff based on trading activity on CME Globex and relevant information available in the cash market.
Lead Month
The lead month* is the expiry month and the contract expected to be the most active.
Tier 1: If three or more contracts trade in the lead month occur on CME Globex between 13:59:30 and 14:00:00 CT, the settlement period, then the contract settles to the volume-weighted average price (VWAP) of trades occurring during this 30-second period.
Tier 2: If trades do not occur on CME Globex between 13:59:30 and 14:00:00 CT, then CME staff uses quote vendor spot rates and forward points to International Monetary Market (IMM) dates to determine the lead contract’s synthetic daily settlement.
Back Months
All back months will settle to interpolated prices from WM Reuters. The settlements will be normalized against the Lead Month settle vs. the interpolated price for the lead month from WM Reuters. All settlements for back months will be validated against any spread markets involving the lead month.
*The designated lead month (in each product) will roll on the Thursday evening (for Friday’s trade date) prior to each quarterly futures expiration. For instance, the September contract will be the lead month from the Thursday evening prior to the June expiration until the Thursday evening prior to the September expiration.
Normal Final Settlement
The settlement price for the expiring NOK/USD (NOK) futures contract is determined by CME Group staff using the spot rate disseminated at 09:16 A.M. Central Time (CT) on the last day of trading.
Additional Details
NOK/USD (NOK) futures are physically delivered upon expiration. For additional details on delivery, please see the CME Rulebook (Chapter 264).
If you have any questions, please call the CME Global Command Center.