AEX INDEX DAILY OPTION (A1 - A31)

AEX Index® Daily Options

AEX Index® Daily Options
Unit of trading

100

Quotation

Euros per index point

Minimum price movement (tick size and value)

Central Order Book:
If the premium of an order at order entry is below or equal to the premium threshold, the tick size is € 0.01 (€ 1 per contract)
If the premium of an order at order entry is above or equal to the premium threshold, the tick size is € 0.05 (€ 5 per contract)
The premium threshold is equal to € 1.50
Large-in-Scale Facility: € 0.01 (€ 1 per contract)

Last trading day

Trading ceases at 16:00 CET on the last trading day of the specific daily option class

Exchange delivery Settlement Price (EDSP)

Price determined on the Last Trading Day as the average of the AEX-index values calculated and disseminated at one minute intervals between, and including, 15:30 and 16:00 CET. The EDSP value is rounded to two decimal places

Last update
Fri, 02/02/2018
Trading Hours

Central Order Book 09:01 – 17:30 CET
Large-in-Scale Facility 07:00 – 18:30 CET

Legal Delivery/Expiry Month

Apr 2008 Onwards

Trading platform

UTP

Algorithm

Central order book applies a price-time trading algorithm with priority given to the first order at the best price. Depending on the outcome of the Liquidity Provider auction, in certain classes Price/Time preferencing can be active, which means that Primary Market Makers (PMM) have a right to a certain percentage of the turnover traded at the PMM’s best bid or offer

Wholesale service

Large-in-Scale Facility, AtomX.
See the “Euronext Wholesale Facilities” document for the minimum size thresholds

Clearing

LCH SA.

Exchange contract

d

Exercise day

Exercise until 19:15 CET on Last Trading Day only

Expiry months

Provided that the day is a normal business day and provided that no other monthly or weekly AEX-index option expires on that day, the option class with symbol A1 expires on the first calendar day of a month, the option class with symbol A2 expires on the second calendar day of a month, the option class with symbol A3 expires on the third calendar day of a month, etc.

Maturities

Provided that the day is a normal business day and provided that no other monthly or weekly AEX-index option expires on that day, the option class with symbol A1 expires on the first calendar day of a month, the option class with symbol A2 expires on the second calendar day of a month, the option class with symbol A3 expires on the third calendar day of a month, etc.The first day of trading of a daily option class is the first business day preceding the expiry day.

Option style

European style - Holders of long positions are only entitled to exercise their options on the expiration date

Settlement

Cash Settlement based on the EDSP

Settlement day

First business day after the Last Trading Day

Contract Size

Contract valued at € 100 per index point (e.g. value € 39,000 at 390.00)

Market: Amsterdam 

Exercise Price Intervals: The interval between Exercise Prices is determined by the lifetime of the expiry month, and its proximity to the at-the-money strike.

Introduction of new exercise prices: A price established on the trading day will used as the reference to determine the introduction of additional exercise prices on the next trading day in order to list the minimum number of exercise prices as determined by the strike introduction policy.