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Pan-European Stock Futures

Characteristics	Description
Underlying and min lots	Underlying stocks and minimum lots
Trading hours	9:00am - 6:00pm
Quotation	Stock futures contracts are quoted in Euros.
Contract value	Equal to the product of its price and the number of shares underlying the individual contract.
Tick	0,0001
Expiry	The 4 nearest quarterly maturities (March, June, September and December) and the 2 nearest monthly maturities giving a total of 6 maturities, if the underlying consists of shares admitted to trading on European regulated markets and included in leading financial indices.
Expiry day	The maturity day shall be the third Friday at 5.50pm of the expiry month; where this is a non-trading day, the expiry day shall be the first trading day preceding such day.
Last trading day	Trading in the nearest maturity shall end at 5.50pm on the expiry day.
Daily closing price	The daily closing price is established by the clearing and settlement organisation Euronext Clearing.
Settlement price	The settlement price shall be the closing price of the underlying share on the expiry day.
Settlement	Cash settled on the Euronext Clearing open day following the expiry day through Euronext Clearing.
BTF	+/- 10% over the bid/ask spread
Limit on number of open positions	None.
Margins	Margin table
Give-up	Available.

Unusual Contract Size

Where contracts have been affected by recent corporate actions resulting in currently tradable contracts being of a non-standard contract size, this information can be found in the document on this page.

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