The NZX Global Butter Futures contracts will complement the existing suite of dairy products which the NZX already offers. This includes Futures and Options for whole milk powder, and Futures for skim milk powder and anhydrous milkfat.
The NZX Global Butter Futures contract will be cash settled against the average price achieved for Fonterra Unsalted Contract 2 butter traded at the two GlobalDairyTrade (GDT) auctions held within the relevant contract month.
The NZX Global Butter Futures contract specifications can be found here.
