American Style, Physically settled Call and Put Option Contracts.
Central Counterparty
LCH.Clearnet.
Trading Hours
08:00 - 16:20 London time for Orderbook trading.
07:30 - 17:30 London time for Trade Reporting.
Exercise Window
07:30 - 18:00 London time on any Trading Day except Expiration Day.
18:10 - 18:40 London time on Expiration Day.
Multiplier
100 Shares.
This may change in specific cases in accordance with the Recalculation Rules.
Currency
NOK, Norwegian Kroner.
Quotation display
Option Premium in NOK.
Tick Size and Tick Value
Premium
Tick Size
Tick Value
NOK 0.0 - NOK 0.10
NOK 0.01
NOK 1
NOK 0.1 - NOK 3.95
NOK 0.05
NOK 5
NOK 4.0 - NOK 7.90
NOK 0.10
NOK 10
NOK 8.0 - infinity
NOK 0.25
NOK 25
Settlement style
Physical Settlement.
Option style
American 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
Group One - Out to 12 months:
First two non quarterly months;
First four quarterly months of "March, June, September, December" cycle.
Group Two - Out to 6 months:
First two quarterly months of "March, June, September, December" cycle.
The Product List on the Turquoise Website shows all Stocks and their corresponding Group.
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
The official closing price of the Underlying Stock on Oslo Børs each Trading Day including Expiration Day.
Exercise Settlement
Three Bank Days after Exercise for Physical Delivery of Stock against payment of Exercise Settlement Amount.
