GBP/USD Options | |
Exchange contract code | PDX |
Contract size | GBP 10,000 |
Unit of trading | 100 |
Pricing unit/quotation | USD per GBP 100 |
Minimum price movement (tick size and value) | Central Order Book and Large-in-Scale Facility: USD 0.01 (USD 1 per contract) |
Option style | European style Holders of long positions are only entitled to exercise their options on the expiration date. |
Expiry months | 1, 2, 3 monthly; 6, 9, 12 months quarterly (of the March, June, September, December cycle) |
Introduction of new exercise prices and exercise price intervals | See the document "Series Introduction Policy Currency Options" in "Related documentation" to find the series introduction policy. |
Introduction of new expiry months | New expiry months are available for trading on the first business day after the expiry of a maturity. |
Wholesale services | Large-in-Scale Facility. See the “LIS Thresholds” document for the minimum size thresholds. |
Euronext Market | Amsterdam |
Last trading day | Trading ceases at 14:00 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. |
Exercise | Exercise until 19:45 CET on Last Trading Day only[1] |
Settlement | Cash Settlement based on the EDSP |
Settlement day | First business day after the Last Trading Day |
Exchange Delivery Settlement Price (EDSP) | Price determined on the Last Trading Day based on the GBP/USD rate set by BFIX: Bloomberg FX Fixings at 14:00 CET and rounded to four decimal places. |
Option premium | Payable in full by the buyer on the business day following a transaction. |
Clearing organization | LCH S.A. |
Trading hours | Central Order Book: 09:00 – 17:30 CET Large-in-Scale Facility: 07:15 – 18:30 CET |
Trading platform | Optiq |
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. |
Last update | 25 November 2019 |
[1] 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. | |
This product may not be offered and sold to US persons. |