MICHELIN
Paris Listed Stock Options (European Style)
10
Euros per share
Central Order Book & Large-in-Scale Facility: € 0.01 (€ 0.10 per contract)
Trading ceases at 17:30 CET on the third Friday of the expiry month. In the event that the third Friday is not a business day, the Last Trading Day shall normally be the last business day preceding the third Friday
Central Order Book 09:01 – 17:30 CET
Large-in-Scale Facility 07:00 – 18:30 CET
UTP
Central order book applies a price-time trading algorithm with priority given to the first order at the best price
Large-in-Scale Facility, AtomX.
See the “Euronext Wholesale Facilities” document for the minimum size thresholds
LCH S.A.
7
Exercise is possible until 19:45 CET on the Last Trading Day only
6, 12, 18, 24 months half yearly (of the June and December cycle). See the document "Expiry Months Listed Per Class" in "Related documentation" to find out which expiry months are listed per class.
European style
Holders of long positions are only entitled to exercise their options on the expiration date.
Physical delivery of 10 shares (or other such number of shares as determined by the terms of the contract) through the settlement system of LCH SA.
Two business days after the exercise day
One option normally equals rights over 10 underlying shares
Apart from exceptions or temporary adjustments for corporate actions.
On the Last Trading Day, in-the-money options are automatically exercised, unless contrary instructions are received from the client/member. Please check the exact exercise rules with your broker.
In the United States these products may only be offered and sold to prescribed entities under specified conditions.
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