MIAX adds physical fertilizer futures

MIAX Futures, formerly the Minneapolis Grain Exchange, has launched four physically settled fertilizer futures contracts, adding a physical-delivery alternative to the cash-settled products already offered by CME Group.

The contracts cover urea, monoammonium phosphate (MAP), diammonium phosphate (DAP) and potassium chloride, also known as muriate of potash (MOP), in the NOLA market centred on New Orleans. Announced on 21 October, the products trade on the MIAX Futures Onyx electronic platform and are cleared through MIAX Futures Clearing.