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.
Related documentation
Related documentation