Physically settled Futures Contracts with Daily Cash Settlement.
Central Counterparty
LCH.Clearnet.
Trading Hours
08:15 - 15:30 London time for Orderbook trading.
07:30 - 17:30 London time for Trade Reporting.
Multiplier
100 DRs.
This may change in specific cases in accordance with the Recalculation Rules.
Currency
USD, United States Dollar, $.
Quotation display
Future Price in USD.
Tick Size and Tick Value
Price
Tick Size
Tick Value
USD less than - USD 0.5
USD 0.0001
USD 0.01
USD 0.5 - USD 0.9995
USD 0.0005
USD 0.05
USD 1 - USD 4.999
USD 0.001
USD 0.10
USD 5 - USD 9.995
USD 0.005
USD 0.5
USD 10 - USD 49.99
USD 0.01
USD 1.0
USD 50 - USD 99.95
USD 0.05
USD 5.0
USD 100 - USD 499.9
USD 0.1
USD 10
USD 500 - USD 999.5
USD 0.5
USD 50
USD 1000 - USD 4999
USD 1
USD 100
USD 5000+
USD 5
USD 500
Settlement style
Physical Settlement by Delivery of the Underlying DR on Expiration with Daily Cash Settlement throughout the lifetime of the Contract.
Listing Day
The Monday preceding the Expiration Day each month.
Where this is not a normal Trading Day, the preceding Trading Day shall be used.
Expiration Day
The third Friday in the Expiration Month.
Where this is not a normal Trading Day, the preceding Trading Day shall be used.
Contract lifetimes and Expiration Months
First two serial months and next four quarterly months of the "March, June, September and December expiry cycle."
Daily Settlement Price
The official closing price of the Underlying DR on the London Stock Exchange IOB on each day adjusted for Fair Value and rounded (where applicable) up to four decimal places.
Daily Cash Settlement
One Bank Day after the Trade Day/ calculation of Daily Settlement Price for cash movements of Daily Settlement Amounts.
Expiration Settlement Price
The official closing price of the Underlying DR on the London Stock Exchange IOB on Expiration Day. Turquoise
shall take this value and round up (where applicable) to the nearest four decimal places to establish the Expiration Settlement Price.
Expiration Settlement
Three Trading Days after Expiration for Physical Delivery of DRs against payment of Expiration Settlement Amount.
Tailor-made IOB DR Future Contracts: Flexible Parameters
Such contracts are available in accordance with Part 5 of the Rulebook allowing Members to specify specific parameters
Members may specify;
Expiration Day (any Trading Day out to Five years)
Future Price (to four decimal places)
IOB DR Options
Contract Underlying
Depositary Receipts (DRs) on International Companies listed on the London Stock Exchange (LSE) International
Order Book (IOB) and listed in the
European Style, physically settled DR Call and Put Option Contracts.
Central Counterparty
LCH.Clearnet.
Trading Hours
08:15 - 15:30 London time for Orderbook trading.
07:30 - 17:30 London time for Trade Reporting.
Exercise Window
18:10 - 18:40 London time on Expiration Day.
Multiplier
100 DRs.
This may change in specific cases in accordance with the Recalculation Rules.
Currency
USD, United States Dollar, $.
Quotation display
Option Premium in USD up to four decimal places.
Tick Size and Tick Value
Premium
Tick Size
Tick Value
USD less than USD 0.25
USD 0.005
USD 0.50
USD 0.25 - USD 2.00
USD 0.01
USD 1
USD 2.0 - USD 4.00
USD 0.05
USD 5
USD 4.0 - USD 10
USD 0.10
USD 10
USD 10+
USD 0.25
USD 25
Settlement style
Physical Settlement.
Option style
European Style.
Listing Day
The Monday preceding the Expiration Day each month.
Where this is not a normal Trading Day, the preceding Trading Day shall be used.
Expiration Day
The third Friday in the Expiration Month.
Where this is not a normal Trading Day, the preceding Trading Day shall be used.
Contract lifetimes and Expiration Months
First two serial months and first four quarterly contracts of the "March, June, September and December expiry cycle".
End of Day Price
Used for margining purposes, based on the volatility surface, itself dependent on; quotes
per series, Underlying spot price, applicable interest rate, dividend amount (if
applicable), ex-dividend date (if applicable), the second order interpolation and the arbitrage free surface rounded (where applicable) up to four decimal places.
Exercise Settlement Price
The official closing price of the Underlying DR on the London Stock Exchange IOB on Expiration Day.
Turquoise shall take this value and rounded (where applicable) up to four decimal places.
Exercise Settlement
Three Bank Days after Exercise for Physical Delivery of DR against payment of Exercise Settlement Amount.
Premium Settlement
One Bank Day after the Trade Day.
Tailor-made IOB DR Option Contracts: Flexible Parameters
Such contracts are available in accordance with the Part 5 of the Rulebook allowing Members to specify specific parameters
Members may specify;
Expiration Day (any Trading Day out to Five years)
