Trade at Settlement

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Trade at Settlement, or TAS, is a type of order execution for futures contracts that allows a market participant to express prices in relations to the daily settlement price of the underlying contract.

TAS allows a market participant to enter an order to buy or sell an eligible futures contract or spreads during the trading session at a price equal to the settlement price for that contract, or at a price above or below it.[1]

The benefits of TAS are it reduces uncertainty around the settlement price, prices contracts at or near the settlement price, can eb executed at any time of the pre-open or trading day and is available on CME Globex and available for block trades.

TAS is available at the CME Group, Intercontinental Exchange, London Metal Exchange]] and Shanghai Futures Exchange.[2]

Video[edit]

Resources[edit]

CME Group[edit]

  • TAS for Agricultural Products[3]
  • TAS for Metals Futures[4]
  • TAS for Treasury futures FAQ[5]
  • TAS Quote Vendor Codes[6]
  • TAS Cycle Guide[7]
  • TAS for Cryptocurrency futures[8]
  • TAS for Cryptocurrency Products FAQ[9]

Intercontinental Exchange[edit]

  • Trade At Settlement (TAS) Frequently Asked Questions[10]

References[edit]