BME Clearing offers centralised clearing services for equity and index options — American, European and IBEX 35 — within its Financial Derivatives Segment, ensuring efficient and transparent risk management.
|
UNDERLYING ASSET
|
A Fures Mini IBEX 35® contract of the same expiration. |
||
|---|---|---|---|
|
CONTRACT SIZE
|
The contract size can be obtained at any time by multiplying the price of the Futures Mini IBEX 35® by €1. |
||
|
STYLE OF OPTION |
European (exercisable only on the Exercise Date). |
||
|
OPTION TYPES |
Call and put options |
||
|
EXPIRATIONS |
The following expirations will be available for trading, clearing and settlement:
· The ten nearest expirations of the March-June-September-December quarterly cycle. · The two nearest monthly expirations that do not coincide with the first expiration of the quarterly cycle. · The expirations of the June-December half-year cycle not included above until the expirations with a maximum life of five years are completed. |
||
|
EXPIRATION DATE |
Third Friday of the expiration month. |
||
|
EXERCISE DATE |
The Expiration Date. |
||
|
CONTRACT SETTLEMENT DATE |
First business day after the Expiration Date. |
||
|
EXERCISE |
Automatic for all contracts that provide benefit to their holders. |
||
|
LAST TRADING DAY |
The Expiration Date |
||
|
EXERCISE PRICES |
In whole points of the Mini IBEX 35 Future. For contracts with an expiration of more than two months, Exercise Prices will end in an exact hundred. For contracts with an expiration of less than two months, Exercise Prices may end in 50 or in an exact hundred. |
||
|
PREMIUM QUOTATION |
In whole points of the Mini IBEX 35 Future, with an appropriate minimum fluctuation according to the quotation of the underlying asset and/or the needs of the market, which will be established by Circular. The minimum fluctuation may differ for trades arranged directly between members. |
||
|
MAXIMUM PREMIUM FLUCTUATION |
None. |
||
|
PREMIUM SETTLEMENT |
First business day following the date of the transaction. |
||
|
COMMISSION SETTLEMENT |
First business day following the date of the transaction. |
||
|
MARGINS |
Variable depending on the Options and Futures portfolio (see “Margin Calculation” section). Margins will be supplied before the start of the session on the business day following the date of the calculation. |
||
|
AUCTION HOURS |
From 8:30 a.m. to 9:00 a.m.
|
||
|
TRADING HOURS |
From 9:00 a.m. to 5:35 p.m. |
||
For more information, please refer to the General Conditions for Financial Derivatives traded in MEFF and those for Clearing and Settlement at BME Clearing.
|
UNDERLYING ASSET
|
Shares of the companies specified by Circular. |
||
|---|---|---|---|
|
CONTRACT SIZE
|
100 shares per contract. Therefore, the price of a stock option contract (except when adjustments are made due to corporate actions). [Therefore, a Stock Option contract with a Premium of 1.27 Euros will have a price of: 100 x 1.27 = 127 Euros. Due to corporate actions, some stock options contracts temporally have on some expirations a contract size different from the standard. |
||
|
STYLE OF OPTION |
American; it may be exercised on any business day until the Expiration Date. |
||
|
OPTION TYPES |
Call option. This option gives the buyer the right to purchase and the seller the obligation to sell the underlying asset at the strike price and until the Expiration Date. In exchange, the buyer pays a premium or the seller collects a premium. Put option. This option gives the buyer the right to sell and the seller the obligation to buy the underlying asset at the strike price and until the Expiration Date. In exchange, the buyer pays a premium or the seller collects a premium. |
||
|
EXPIRATIONS |
The following expirations will be available for trading, clearing and settlement:
The four nearest expirations of the March-June-September-December quarterly cycle. In addition, quarterly cycle contracts with up to ten expirations and half-year cycle contracts with a maximum life of five years may be introduced to trading. |
||
|
EXPIRATION DATE |
Third Friday of the expiration month. |
||
|
EXERCISE DATE |
Any business day up to and including the Expiration Date. |
||
|
CONTRACT SETTLEMENT DATE |
On the Exercise Date, shares will be purchased and sold, which will be settled within the corresponding period. |
||
|
EXERCISE |
MEFF RV will be notified of the Exercise in accordance with the procedure established in the General Conditions, if applicable, as established and specified by Circular, generating the corresponding spot trade on the Exercise Date. The assignment of exercises will be proportionate and the affected parties will be notified in accordance with the procedures and timetables established by Circular. |
||
|
LAST TRADING DAY |
The Expiration Date. |
||
|
EXERCISE PRICES |
The Exercise Prices are established by the General Conditions, except where there have been adjustments to the Exercise Price. |
||
|
PREMIUM QUOTATION |
In euro per share, with a minimum fluctuation of 1 euro cent. |
||
|
MAXIMUM PREMIUM FLUCTUATION |
None. |
||
|
PREMIUM SETTLEMENT |
First business day following the date of the transaction. |
||
|
COMMISSION SETTLEMENT |
First business day following the date of the transaction. |
||
|
MARGINS |
Variable (see Circular on Margin Calculation Parameters). Margins will be supplied before the start of the session on the business day following the date of the calculation. |
||
|
AUCTION HOURS |
From 8:30 a.m. to 9:00 a.m. |
||
|
TRADING HOURS |
From 9:00 a.m. to 5:35 p.m.
|
||
For more information, please refer to the General Conditions for Financial Derivatives traded in MEFF and those for Clearing and Settlement at BME Clearing.
|
UNDERLYING ASSET
|
Shares of the companies specified by Circular. |
||
|---|---|---|---|
|
CONTRACT SIZE
|
100 shares per contract. (except when adjustments are made due to corporate actions). Therefore, a Stock Option contract with a Premium of 1.27 Euros will have a price of: 100 x 1.27 = 127 Euros. Due to corporate actions, some stock options contracts temporally have on some expirations a contract size different from the standard. |
||
|
STYLE OF OPTION |
European; it may only be exercised on the Expiration Date. |
||
|
TIPOS DE OPCIÓN |
Call option. This option gives the buyer the right to purchase and the seller the obligation to sell the underlying asset at the strike price and until the Expiration Date. In exchange, the buyer pays a premium or the seller collects a premium. Put option. This option gives the buyer the right to sell and the seller the obligation to buy the underlying asset at the strike price and until the Expiration Date. In exchange, the buyer pays a premium or the seller collects a premium. |
||
|
EXPIRATIONS
|
The following expirations will be available for trading, clearing and settlement:
The four nearest expirations of the March-June-September-December quarterly cycle. In addition, quarterly cycle contracts with up to ten expirations and half-year cycle contracts with a maximum life of five years may be introduced to trading. |
||
|
EXPIRATION DATE |
Third Friday of the expiration month. |
||
|
EXERCISE DATE |
The Expiration Date. |
||
|
CONTRACT SETTLEMENT DATE |
On the Exercise Date, shares will be purchased and sold, which will be settled within the corresponding period. |
||
|
EXERCISE |
MEFF RV will be notified of the Exercise in accordance with the procedure established in the General Conditions, if applicable, as established and specified by Circular, generating the corresponding spot trade on the Exercise Date. The assignment of exercises will be proportionate and the affected parties will be notified in accordance with the procedures and timetables established by Circular. |
||
|
LAST TRADING DAY |
The Expiration Date. |
||
|
EXERCISE PRICES |
The Exercise Prices are established by the General Conditions, except where there have been adjustments to the Exercise Price. |
||
|
PREMIUM QUOTATION |
In euro per share, with a minimum fluctuation of 1 euro cent. |
||
|
MAXIMUM PREMIUM FLUCTUATION |
None. |
||
|
PREMIUM SETTLEMENT |
First business day following the date of the transaction . |
||
|
COMMISSION SETTLEMENT |
First business day following the date of the transaction. |
||
|
MARGINS |
Variable (see Circular on Margin Calculation Parameters). Margins will be supplied before the start of the session on the business day following the date of the calculation. |
||
|
AUCTION HOURS |
From 8:30 a.m. to 9:00 a.m. |
||
|
TRADING HOURS |
From 9:00 a.m. to 5:35 p.m.
|
||
For more information, please refer to the General Conditions for Financial Derivatives traded in MEFF and those for Clearing and Settlement at BME Clearing.