| FTSE 100 Index Options |
|---|
| Contract Underlying |
The FTSE 100 Index. The benchmark Index for the United Kingdom. |
| Type of Contract |
European Style, Cash settled Call and Put Option Contracts. |
| Central Counterparty |
LCH.Clearnet.
|
|
| Trading Hours
|
08:00 - 16:30 London time.
07:30 - 17:30 London time phone reporting of block trades.
On Expiration Day, trading finishes as soon as reasonably practicable after 10:15am once the Expiration Settlement Price of the Index has been determined. |
| Exercise Window
|
18:10 - 18:40 London time on Expiration Day.
|
|
| Multiplier
|
GBP 10 per Index point.
|
| Currency
|
GBP, British Pound, £.
|
| Quotation display
|
Option Premium in Index points.
|
| Tick Size and Tick Value
|
Tick Size Tick Value
0.5 points GBP 5
|
| 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 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
|
Out to 24 months:
First two non quarterly months;
First eight quarterly months of "March, June, September, December" cycle.
|
|
| End of Day Price
|
Price used to calculate theoretical value of Option Contract positions in order to facilitate the margining
process at the clearing level. This price is calculated in accordance with standard Black Scholes options pricing model.
|
| Exercise Settlement Price
|
The value of the FTSE 100 Expiry Index as calculated by FTSE at 10:15 on the Expiration Day or as soon as
reasonably practicable, following the intraday auction on the
London Stock Exchange
(plus up to 30 seconds random interval and any price monitoring extensions or Market Order extensions in any of the constituent Stocks).
Turquoise shall take this value and round to the nearest 0.5 Index points to establish the Expiration Settlement Price.
Members shall be aware that the Exercise Settlement Price may vary from that trading day´s highs and lows.
|
| Exercise Settlement
|
One Bank Day after Expiration Day for payment of Exercise Settlement Amount.
|
| Premium Settlement
|
One Bank Day after the Trade Day.
|
| FTSE 100 Index Futures |
|---|
| Contract Underlying |
The FTSE 100 Index. The benchmark Index for the United Kingdom. |
| Type of Contract |
Cash settled Future Contracts with Daily Cash Settlement. |
| Central Counterparty |
LCH.Clearnet. |
|
| Trading Hours |
08:00 - 16:30 London time.
07:30 - 17:30 London time phone reporting of block trades.
On Expiration Day, trading finishes as soon as reasonably practicable after 10:15am once the Expiration Settlement Price of the Index has been determined. |
|
| Multiplier |
GBP 10 per Index point. |
| Currency |
GBP, British Pound, £. |
| Quotation display |
Future Price in Index points. |
| Tick Size and Tick Value |
Tick Size Tick Value
0.5 points GBP 5
|
| 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 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 |
Out to 12 months:
First four quarterly months of "March, June, September, December" cycle. |
| Daily Settlement Price |
The closing value of the FTSE 100 Index as calculated by FTSE each Trading
Day at 16:35 following the closing auction on the London Stock Exchange.
This value is adjusted by Turquoise to reflect Fair Value and rounded to two 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 value of the FTSE 100 Expiry Index as calculated by FTSE at 10:15 on the Expiration Day or as soon as reasonably
practicable, following the intraday auction on the
London Stock Exchange
(plus up to 30 seconds random interval and any price monitoring extensions or Market Order extensions in any of the constituent Stocks).
Turquoise shall take this value and round to the nearest 0.5 Index points to establish the Expiration Settlement Price.
Members shall be aware that the Expiration Settlement Price may vary from that trading day´s highs and lows. |
| Expiration Settlement |
One Bank Day after Expiration for payment of Expiration Settlement Amount. |
