What is the difference between the global and regional contracts, in delivery and warehousing terms?
Any material on warrant for the relevant product (Polypropylene (PP) or Linear Low Density Polyethylene (LLDPE)) can be delivered in settlement of a global futures commitment. However, only material on warrant in the specific region relating to the regional futures contract can be delivered in settlement of a specific regional futures commitment. For example: For the regional contracts: warrants for plastic stored in North American approved warehouses will only be deliverable against the North American contract. A polypropylene (PP) warrant in a North American approved warehouse can only be delivered against the North American PP contract. A LLDPE warrant for material stored in Europe can only be delivered against the European LLDPE contract, and so on. For the global contracts: Plastic Warrants regardless of where the plastic is stored in warehouse (Asia, Europe or North America) will be deliverable against the global contract for that product. That is, a PP warrant for material store
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