Stock futures

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

  • Italian underlyings: the third Friday of the expiry month at 9.05am CET
  • European underlyings: the third Friday of the expiry month at 5.50pm CET
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 Cassa di Compensazione e Garanzia (CC&G) according to the theoretical value and taking the underlying reference price into account

Settlement day

  • Italian underlyings:
    - cash settled: the first open CC&G calendar day following the expiry day
    - physically settled: the second open TARGET calendar day following the expiry day
  • European underlyings: the first open CC&G calendar day following the expiry day

Final settlement price

  • Italian underlyings: the opening auction price of underlying share on the expiry day
  • European underlyings: the closing auction price of underlying share on the expiry day

Strategies

Time spread and FLEXCO


The Exchange accepts no responsability for the content of the website you are now accessing or for any reliance placed by you or any person on the information contained on it.

By allowing this link the Exchange does not intend in any country, directly or indirectly, to solicit business or offer any securities to any person.


You will be redirected in five seconds.