Futures Certification
The ASX Group of companies, known as the Australian Securities Exchange, includes the combined operations of ASX (formerly the Australian Stock Exchange) and ASX 24 (formerly SFE Corporation).
ASX and ASX 24 both provide wool futures and options contracts that have been used by many individuals and organisations within the Australian wool industry for risk management purposes. Several of these contracts are deliverable. The most actively traded contract and the one most likely to be physically delivered is the Greasy Wool (21 micron) Futures Contract traded on ASX 24 (formerly SFE).
To provide confidence that all wool being delivered and received against contacts is of a similar type and in accordance with the contract specifications, AWEX is responsible for certifying each lot as compliant for the Non Measured Wool Characteristics (see also AWEX-ID) and minimum clip preparation standards prior to delivery. AWEX utilises AWEX-ID to type for compliance. Wool may be certified by one of two methods.
- Audited Results - wool offered in an AWEX managed auction is audited by AWEX staff. The results of these audits are available pre or post sale from AWEX. The use of this information pre-sale allows potential purchases to be guaranteed that those lots will be deliverable against respective wool futures contracts.
- Compliance Appraisal - if wool has not been offered for sale through an AWEX managed auction or is being sold privately, AWEX can still perform an appraisal on that wool upon request. A Request for Appraisal of Wool form must be completed prior to AWEX appraising the wool.
Once the wool has been appraised by AWEX, the party wishing to deliver that wool is required to complete a Request for Issue of an Appraisal Certification for Wool and submit it to AWEX.
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ASX Wool Futures |
Delivery Deadline |
Request for Appraisal of Wool |
Request to Issue Appraisal Certification |
Approved Warehouses |
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Greasy Wool Futures (21 micron) |
Click here |
Click here |
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China Type Wool Futures |
Click here |
For more information on Futures Certification please contact AWEX on +61 2 9428 6140 end_of_the_skype_highlighting or email woolfutures@asx.com.au or visit the website www.asx.com.au/woolfutures.