WTB Futures On Recyclable Paper Are Launched On February 25, 2000

On and after 10:20 hrs on February 25 the first futures on recyclable paper can be traded at the Hanover Commodity Exchange (Warenterinbörse - WTB). These are the first futures of its kind world-wide. Particularly in the recent months the price fluctuation on the recyclable paper market has increased significantly. With these futures there are innovative tools available for the first time to the waste management industry, the trade and the paper industry in order to counter this fluctuations and guard against price risks. In its latest meeting the exchange council of WTB laid down the final details. The futures refer to 100 to supermarket-recovered paper (B19/1.04) and 100 to De-Inking (D39/1.11) and are traded up to one year in advance. The defined qualities take the criteria customary to the industry of the European Standard List for Recyclable Paper as a model. The trade conditions of the WFB differ from these merely in one point: The proportion of non-paper components or unwanted papers are stipulated by the exchange according to the industry's customs and are currently 1% for supermarket recovered paper and 3% for De-Inking. The Hanover Commodity Exchange WTB is the first fully computerised commodity futures exchange in Germany. Currently futures on wheat, potatoes, pigs, rape products and heating oil are traded, in future also on recyclable paper.