Trade at Settlement

TAS is a type of futures contract where trades are executed at the settlement price of an exchange-traded contract, rather than at the current market price. It reduces price uncertainty and improves trade execution efficiency.

For example, an oil trader may enter a WTI TAS order specifying a quantity to be executed at the next settlement price. This allows participation without actively monitoring volatile intraday movements.

TAS contracts are widely used in commodities, equity futures, and energy derivatives to manage risk, optimize execution, and enhance liquidity. They are particularly valuable in volatile markets where intraday price swings are significant.

Understanding TAS enables traders to implement cost-efficient strategies, reduce slippage, and maintain control over timing and execution in complex markets.