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Contract Specifications
Version 03 Oct 2000
Contract Standard
A futures contract on a notional long-term debt instrument issued by the German Federal Government with a remaining term of 8½ to 10½ years and a 6 percent coupon (i.e. Euro-BUND Futures).
Unit of Trading
One Euro-BUND Futures contract.
Settlement
The exercise of a Euro-BUND Futures option results in the creation of a corresponding Euro-BUND Futures position for the purchaser as well as the seller to whom the exercise is assigned. The position is established immediately following the Post-Trading Period of the exercise day, and is based on the agreed-upon exercise price.
Quotation
In points, carried out two decimal places.
Minimum Price Movement
0.01 of a point, representing a value of EUR 10.
Last Trading Day
Six exchange trading days prior to the first calendar day of the option expiration month.
Daily Settlement Price
The last-paid price of the trading day; or, if the last-paid price is older than 15 minutes or does not reasonably reflect actual market conditions, then Eurex will establish the official settlement price.
Exercise Period
American style, i.e. an option can be exercised up to the end of the Post-Trading Period on any exchange trading day during the life of the option.
Expiration Months
The three nearest calendar months, as well as the following month within the cycle March, June, September and December; i.e. options contracts are available with a duration of one, two and three months, as well as a maximum of six months.
Underlying futures contract:
a) Expiration months March, June, September, December: the delivery month of the underlying futures contract and the expiration month of the option are identical.
b) Other expiration months: the delivery month of the underlying futures contract is the quarter-end month following the expiration month of the option.
Exercise Prices
Options series have exercise prices with gradations of 0.50 of a point (e.g. 104.00; 104.50; 105.00). Nine exercise prices are introduced for each contract month.
Option Premium
The premium is settled futures-style.
Contract Specifications
Version 03 Oct 2000
Contract Standard
A futures contract on a notional long-term debt instrument issued by the German Federal Government with a remaining term of 8½ to 10½ years and a 6 percent coupon (i.e. Euro-BUND Futures).
Unit of Trading
One Euro-BUND Futures contract.
Settlement
The exercise of a Euro-BUND Futures option results in the creation of a corresponding Euro-BUND Futures position for the purchaser as well as the seller to whom the exercise is assigned. The position is established immediately following the Post-Trading Period of the exercise day, and is based on the agreed-upon exercise price.
Quotation
In points, carried out two decimal places.
Minimum Price Movement
0.01 of a point, representing a value of EUR 10.
Last Trading Day
Six exchange trading days prior to the first calendar day of the option expiration month.
Daily Settlement Price
The last-paid price of the trading day; or, if the last-paid price is older than 15 minutes or does not reasonably reflect actual market conditions, then Eurex will establish the official settlement price.
Exercise Period
American style, i.e. an option can be exercised up to the end of the Post-Trading Period on any exchange trading day during the life of the option.
Expiration Months
The three nearest calendar months, as well as the following month within the cycle March, June, September and December; i.e. options contracts are available with a duration of one, two and three months, as well as a maximum of six months.
Underlying futures contract:
a) Expiration months March, June, September, December: the delivery month of the underlying futures contract and the expiration month of the option are identical.
b) Other expiration months: the delivery month of the underlying futures contract is the quarter-end month following the expiration month of the option.
Exercise Prices
Options series have exercise prices with gradations of 0.50 of a point (e.g. 104.00; 104.50; 105.00). Nine exercise prices are introduced for each contract month.
Option Premium
The premium is settled futures-style.