Italian Stock Futures

Underlying stocks and minimum lots

9:00am - 5:40pm

Stock futures contracts are quoted in euros.

The value of a stock futures contract shall be equal to the product of its price and the number of shares underlying the individual contract.

0,0001

If the underlying consists of Italian shares other than those included in the FTSE MIB, at the time of the contract’s admission to trading, the following shall be quoted: the nearest three-month maturity and the two nearest monthly maturities, giving a total of three maturities. The maturity day shall be the third Friday of the maturity month; where this is a non-trading day, the maturity day shall be the first trading day before such day.
From the first trading day subsequent to the maturity of a contract, Borsa Italiana may admit the three-month and/or monthly maturities needed to maintain the trading of up to a maximum of three contracts. The start of trading of these maturities is announced in a Notice at least five trading days in advance. Borsa Italiana may allow further maturities to be quoted taking into account the liquidity of the underlying shares.

Trading in the nearest maturity of stock futures admitted to trading on the MTA market shall end at 09.05 on the third Friday of the maturity month. If the underlying shares are admitted to trading also in other European regulated market, Borsa Italiana might establish that trading ends at 17.40.

Trading in the nearest maturity shall end at 9.05am on the expiration day.

The daily closing price is established by the clearing and settlement organisation Cassa di Compensazione e Garanzia.

The settlement price shall be the opening price of the underlying share on the maturity day.

Settlement is by delivery (in the Stanza di Compensazione) of the financial instruments specified in the contract, through the clearing and settlement organisation Cassa di Compensazione e Garanzia, taking into consideration the number of contracts exercised and the minimum lot. Delivery date coincides with the third trading day after expiration date.

None.

Margin table

Available.