The OBX index is Norway benchmark index comprising the top 25 Norwegian blue chip companies as listed on Oslo and also offered for trading on Turquoise cash markets. A unique and cooperative clearing and trading link run between Turquoise Derivatives and Oslo´s derivative market allows international investors the opportunity to directly interact with domestic market liquidity through a Turquoise connection. Volumes of around eight million contracts a year in the OBX have established the index as one of Europe´s strongest second tier indices and target for asset managers, market makers, high frequency traders and investment banks looking to capitalise on new trading opportunities.

Norwegian indices	Open	Close
OBX options	08:00	15:20
OBX futures	07:30	15:20
Trade reporting	07:30	17:30

Norwegian index expiries
	6 months	12 months
OBX index	February, March, May, June, August, September, November, December	January, April, July, October

OBX Index Futures
Contract Underlying	The OBX Index. The benchmark index for Norway.
Type of Contract	Cash settled Futures Contracts with Daily Cash Settlement.
Central Counterparty	LCH.Clearnet.
Trading Hours	07:30 - 15:20 London time for Orderbook trading. 07:30 - 17:30 London time for Trade Reporting.
Multiplier	NOK 100 per Index point.
Currency	NOK, Norwegian Kroner.
Quotation display	Future Price in Index points.
Tick Size and Tick Value	Future Price Tick Size Tick Value 0 points - 1000 points 0.10 points NOK 10 1000 points - infinity 0.25 points NOK 25
Settlement style	Cash Settlement 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 Thursday in the Expiration Month. Where this is not a normal Trading Day, the preceding Trading Day shall be used.
Contract lifetimes and Expiration Months	Expiration every month Every month new future contracts are listed; 3 months: January, February, April, May, July, August, October and November 12 months: March and September lifetime
Daily Settlement Price	The official closing price of the OBX Index as calculated each day by Oslo Børs and adjusted for Fair Value.
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	VWAP of the OBX cash market, including closing auction calculated by Oslo Børs on Expiration Day.
Expiration Settlement	One Bank Day after Expiration for payment of Expiration Settlement Amount.

OBX Index Options
Contract Underlying	The OBX Index. The benchmark index for Norway.
Type of Contract	European Style, cash settled Call and Put Options Contracts.
Central Counterparty	LCH.Clearnet.
Trading Hours	08:00 - 15:20 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	NOK 100 per Index point.
Currency	NOK, Norwegian Kroner.
Quotation display	Option Premium in Index points.
Tick Size and Tick Value	Premium Tick Size Tick Value 0.0 points - 0.10 points 0.01 points NOK 1 0.1 points - 3.95 points 0.05 points NOK 5 4.0 points - 7.90 points 0.10 points NOK 10 8.0 points - infinity 0.25 points NOK 25
Settlement style	Cash 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 Thursday in the Expiration Month. Where this is not a normal Trading Day, the preceding Trading Day shall be used.
Contract lifetimes and Expiration Months	Expiration every month Every month new option contracts are listed; 3 months: January, February, April, May, July, August, October and November 12 months: March and September lifetime
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.
Exercise Settlement Price	VWAP of the OBX cash market, including closing auction calculated by Oslo Børs on Expiration Day.
Exercise Settlement	One Bank Day after Expiration Day for payment of Exercise Settlement Amount.
Premium Settlement	One Bank Day after the Trade Day.