Products

Mercari offers financial derivative product markets in Commodities, Energy, Environmental, Interest Rates, Foreign Exchange and tradeable certificates. Mercari also hosts markets for non-financial products.

Products offered for trading on Mercari have been uniquely designed to also meet the specialised requirements of OTC market participants. Through its innovation and flexible systems, Mercari has proven itself to be an efficient, relevant and reliable market infrastructure operator.

Mercari technology also offers multiple market structures configurable at the product and tenor levels. Mercari can offer both request for quote (RFQ) and central limit order book (CLOB) structures delivered via intermediated (brokered) and disintermediated (direct) market models.

In addition the flexibility of the Mercari technology is such that the price discovery model and distribution model can be set at the product level.

Distribution:

  • Direct Market Access
  • Via a Broker

Price Discovery:

  • Order driven markets – Request for Quote (RFQ)
  • Price driven markets – Central Limit Order Book (CLOB)

Non-Financial

Class Type Settlement Method Settlement Index Currency Contract Documentation Trading Hours Open Trading Hours Close
Non-Financial
Environmental
NSW Energy Saving Certificates ESC Physically Settled Not applicable AUD AFMA Spot Contract for Environmental Products 0830 Sydney, Australia 1700 Sydney, Australia
Non-Financial
Environmental
Large Scale Generation Certificates LGC Physically Settled Not applicable AUD AFMA Spot Contract for Environmental Products 0830 Sydney, Australia 1700 Sydney, Australia
Non-Financial
Environmental
Small Scale Technology Certificates STC Physically Settled Physically Settled Not applicable AUD AFMA Spot Contract for Environmental Products 0830 Sydney, Australia 1700 Sydney, Australia
Non-Financial
Environmental
Victorian Energy Efficiency Certificates VEEC Physically Settled  Not applicable AUD AFMA Spot Contract for Environmental Products 0830 Sydney, Australia 1700 Sydney, Australia
Non-Financial
Commodity
Riemann Spot Cotton Physically Settled  Not applicable AUD Riemann Cotton OTC Physical Delivery Contract Terms 0930 Sydney, Australia 1630 Sydney, Australia
Non-Financial
Commodity
Riemann-AMPI Bulk Raw Milk Delivered Physically Settled  Not applicable AUD AMPI Contract Number 1 For Bulk Raw Milk Delivered 2x month

1400 Sydney, Australia

2x month

1430 Sydney, Australia

Interest Rate

Class Type Settlement Method Settlement Index Currency Contract Documentation Trading Hours Open Trading Hours Close
Interest Rate AUD Interest Rate Swaps (IRS) Cash Settled Bank Bill Swap Reference Rate (BBSW) AUD ISDA 0830 Sydney, Australia 1700 Sydney, Australia
Interest Rate AUD Basis Swaps Cash Settled Bank Bill Swap Reference Rate (BBSW) AUD ISDA 0830 Sydney, Australia 1700 Sydney, Australia
Interest Rate AUD Overnight Index Swaps (OIS) Cash Settled RBA Overnight Rate (RBA30) AUD ISDA 0830 Sydney, Australia 1700 Sydney, Australia
Interest Rate AUD Forward Rate Agreements (FRA) Cash Settled Bank Bill Swap Reference Rate (BBSW) AUD ISDA 0830 Sydney, Australia 1700 Sydney, Australia

Foreign Exchange

Class Type Settlement Method Settlement Index Currency Contract Documentation Trading Hours Open Trading Hours Close
Foreign Exchange AUD-USD Cross Currency Basis Swaps Cash Settled Bank Bill Swap Reference Rate (BBSW) and Secured Overnight Financing Rate (SOFR) AUD-USD ISDA 0830 Sydney, Australia 1700 Sydney, Australia

Environmental

Class Type Settlement Method Settlement Index Currency Contract Documentation Trading Hours Open Trading Hours Close
Environmental Forward Large Scale Generation Certificates LGC – Forward Contracts Physically Settled N/A AUD ISDA or AFMA Spot Contract for Environmental Products, if no ISDA in place 0830 Sydney, Australia 1700 Sydney, Australia
Environmental Forward Small Scale Technology Certificates STC – Forward Contracts Physically Settled N/A AUD ISDA or AFMA Spot Contract for Environmental Products, if no ISDA in place 0830 Sydney, Australia 1700 Sydney, Australia
Environmental Forward NSW Energy Saving Certificates ESC – Forward Contracts Physically Settled N/A AUD ISDA or AFMA Spot Contract for Environmental Products, if no ISDA in place 0830 Sydney, Australia 1700 Sydney, Australia
Environmental Forward Victorian Energy Efficiency Certificates VEEC – Forward Contracts Physically Settled N/A AUD ISDA or AFMA Spot Contract for Environmental Products, if no ISDA in place 0830 Sydney, Australia 1700 Sydney, Australia

Commodity

Class Type Settlement Method Settlement Index Currency Contract Documentation Trading Hours Open Trading Hours Close
Commodity Iron Ore Cash Settled The Steel Index (TSI) Iron Ore – 65% FE USD ISDA or Clearing Documentation 0830 Sydney, Australia 1700 Sydney, Australia
Commodity Iron Ore Cash Settled The Steel Index (TSI)1 Iron Ore – 62% FE USD ISDA or Clearing Documentation 0830 Sydney, Australia 1700 Sydney, Australia
Commodity Iron Ore Cash Settled The Steel Index (TSI) Iron Ore – 58% FE USD ISDA 0830 Sydney, Australia 1700 Sydney, Australia
Commodity Iron Ore Cash Settled Metal Bulletin Iron Ore – 62% FE USD ISDA 0830 Sydney, Australia 1700 Sydney, Australia
Commodity Wool Cash Settled Forward Australian Wool Exchange (AWEX) nominated Micron Price guides (MPG) (Mild Price of the Reginal Market Indicators for North & South MPG’s) AUD Terms of Trade Riemann Agricultural Financial Products 1000 Sydney, Australia 1700 Sydney, Australia
Commodity Wool Cash Settled Option AWEX Nominated Micron Price Guides (MPG) (Mid price of the Reginal Market Indicators for North & South MPG’s) AUD Terms of Trade Riemann Agricultural Financial Products 1000 Sydney, Australia 1700 Sydney, Australia
Commodity Wheat Cash Settled Chicago Mercantile Exchange (CME) Wheat (‘W’) contract as at close of trading of the AUD Wheat OTC Contract with the price converted to AUD using midpoint of the BID/ASK of the Thomson Reuters ‘AUDH’ rate next published after the close of trading of the CBOT Wheat open outcry session. AUD Grain Traders Association Documentation (GTS) or Clearing Documentation 0830 Sydney, Australia 1700 Sydney, Australia
Commodity Wheat Cash Settled Kansas City Board of Trade (KCBT) Wheat (‘KW’) contract as at close of trading of the AUD Wheat OTC Contract with the price converted to AUD using midpoint of the BID/ASK of the Thomson Reuters ‘AUDH’ rate next published after the close of trading of the KCBT Wheat open outcry session. AUD Grain Traders Association Documentation (GTS) or Clearing Documentation 0830 Sydney, Australia 1700 Sydney, Australia
Commodity Wheat Physically Settled Applicable Grain Trade Australia (GTA) wheat grades as per seasons specifications issued by GTA AUD Grain Traders Association Documentation – GTA Contract No 2 1100 Sydney, Australia 1630 Sydney, Australia
Commodity Wheat Option-Manual expiry prior to Forward Settlement Conversion to forward Contract – settlement through – Applicable Grain Trade Australia (GTA) wheat grades as per seasons specifications issued by GTA AUD Industry Accepted Documentation 1100 Sydney, Australia 1700 Sydney, Australia
Commodity Beef Cash Settled Imported Aust/NZ Blend cow 90% EC 7:45 as published on Urner Barry 90CL 5 day simple average. USD Terms of Trade Riemann Agricultural Financial Products 0830 Sydney, Australia 1700 Sydney, Australia
Commodity Beef Cash Settled USDA Weekly volume-weighted average of Choice and Select cut-out values as reported by USDA in LM_XB459, “National Weekly Boxed Beef Cut-out and Boxed Beef Cuts’. USD Terms of Trade Riemann Agricultural Financial Products 0830 Sydney, Australia 1700 Sydney, Australia
Commodity Beef Cash Settled Option USDA Weekly volume-weighted average of Choice and Select cut-out values as reported by USDA in LM_XB459 “National Weekly Boxed Beef Cut-out and Boxed Beef Cuts’. USD Terms of Trade Riemann Agricultural Financial Products 0830 Sydney, Australia 1700 Sydney, Australia
Commodity Lamb Cash Settled Forward Meat & Livestock Association (MLA) National Trade Lamb Indicator (NTLI) National Sheep and Lamb Indicator Report produced every Friday in c/kg cwt AUD Terms of Trade Riemann Agricultural Financial Products 1000 Sydney, Australia 1700 Sydney, Australia
Commodity Lamb Cash Settled Option Meat & Livestock Association (MLA) National Trade Indicator (NTLI) National  Sheep and Lamb Indicator Report produced every Friday in c/kg cwt AUD Terms of Trade Riemann Agricultural Financial Products 1000 Sydney, Australia 1700 Sydney, Australia
Commodity Cattle Cash Settled Meat & Livestock Association (MLA) Eastern Young cattle Indicator (EYCI) daily Summary Report produced every Thursday in c/kg cwt AUD Terms of Trade Riemann Agricultural Financial Products 1000 Sydney, Australia 1700 Sydney, Australia
Commodity Cattle Cash Settled Option Meat & Livestock Association (MLA) Eastern Young cattle Indicator (EYCI) daily Summary Report produced every Thursday in c/kg cwt AUD Terms of Trade Riemann Agricultural Financial Products 1000 Sydney, Australia 1700 Sydney, Australia
Commodity Cotton Physically Settled Final netting price as calculated by Mercari AUD Riemann Cotton OTC Physical Delivery Contract Terms 1000 Sydney, Australia 1700 Sydney, Australia

Energy

Class Type Settlement Method Settlement Index Currency Contract Documentation Trading Hours Open Trading Hours Close
Energy Coal Cash Settled Argus/McCloskey API 2 – Rotterdam USD ISDA or Clearing Documentation Currently Suspended Currently Suspended
Energy Coal Cash Settled Argus/McCloskey API 4 – Richards Bay USD ISDA or Clearing Documentation Currently Suspended Currently Suspended
Energy Coal Cash Settled Argus/McCloskey API 6 – Newcastle USD ISDA or Clearing Documentation Currently Suspended Currently Suspended
Energy Coal Cash Settled Argus – Newcastle Coal Index USD ISDA Currently Suspended Currently Suspended
Energy Coal Cash Settled McCloskey Sub-Bituminous – Indonesia USD ISDA or Clearing Documentation Currently Suspended Currently Suspended
Energy Crude Oil Cash Settled Platts Asian Crude Oil Index USD ISDA Currently Suspended Currently Suspended
Energy Crude Oil Cash Settled Platts Dated Brent and Bent/Ninian Blend USD ISDA or Clearing Documentation Currently Suspended Currently Suspended
Energy Crude Oil Cash Settled Platts East Siberia Pacific Ocean Pipeline USD ISDA Currently Suspended Currently Suspended
Energy Crude Oil Cash Settled Platts Dubai USD ISDA or Clearing Documentation Currently Suspended Currently Suspended
Energy Crude Oil Cash Settled Argus Sour Crude Index USD ISDA or Clearing Documentation Currently Suspended Currently Suspended
Energy Crude Oil Cash Settled Argus Dated Brent USD ISDA Currently Suspended Currently Suspended
Energy Crude Oil Cash Settled Chicago Mercantile Exchange (CME) Light Sweet Crude Oil (West Texas Intermediate – WTI) USD ISDA or Clearing Documentation Currently Suspended Currently Suspended
Energy Crude Oil Cash Settled Intercontinental Exchange (ICE) Brent Crude USD ISDA or Clearing Documentation Currently Suspended Currently Suspended

Documentation