|
Characteristic
|
Description
|
Underlying
|
Shares traded on the Borsa Italiana’s equity markets or major European markets
|
Trading hours
|
9.00am - 6.00pm CET
|
Settlement
|
Italian underlyings: physically and/or cash settled, depending on the underlying
European underlyings: cash settled
|
Quotation
|
Euro
|
Tick size (in €)
|
- On-book trading: 0.0001
- Orders to execute Negotiated Transactions: 0.0001
|
Multiplier
|
Depending on the underlying (Minimum lots table)
|
Contract size
|
Future price x Multiplier
|
Contract months
|
Italian underlyings: i) the 2 nearest monthly expiries and the 4 nearest quarterly expiries of the Mar/Jun/Sep/Dec cycle, if the underlying consists of shares included in the FTSE MIB index or equivalent leading indices; ii) the 2 nearest monthly expiries and the nearest quarterly expiry, if the underlying consists of Italian shares other than those included in the FTSE MIB index
European underlyings: the 2 nearest monthly expiries and the 4 nearest quarterly expiries of the Mar/Jun/Sep/Dec cycle
Moreover, for some underlyings defined by Borsa Italiana’s Market Notice, the 2 nearest successive annual contracts month’s expiry of the December cycle are also available
|
Expiry day
|
In all cases, if the Exchange is closed that day, the contract expires on the first trading day preceding that day |
Last trading day
|
Expiry day
|
Daily settlement price
|
Defined by Euronext Clearing according to the theoretical value and taking the underlying reference price into account
|
Settlement day
|
Italian underlyings:
- cash settled: the first open Euronext Clearing calendar day following the expiry day
- physically settled: the second open TARGET calendar day following the expiry day
European underlyings: the first open Euronext Clearing calendar day following the expiry day
|
Final settlement price
|
|
Strategies
|
Time spread and FLEXCO
|