|AEX Dividend Index Futures|
|Exchange contract code||AXF|
|Contract size||Contract valued at € 200 per index point (e.g. value € 2,000 at 10.00)|
|Unit of trading||200|
|Pricing unit/quotation||Index points (e.g. 100.00)|
|Minimum price movement (tick size and value)||Central Order Book: 0.01 index point (€ 2 per contract)
Large-in-Scale Facility: 0.001 index point (€ 0.20 per contract)
|Expiry months||12, 24, 36, 48 and 60 months yearly (of the December cycle)|
|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.
|Last trading day||Trading ceases at 13:00 CET on the third Friday of the delivery 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.|
|Settlement||Cash Settlement based on the EDSP|
|Settlement day||First business day after the Last Trading Day|
|Exchange Delivery Settlement Price (EDSP)||The settlement value of the AEX Dividend Index as published at 13:00 (CET) on the third Friday of the delivery month, rounded to three decimal places.|
|Clearing organization||LCH S.A.|
|Trading hours||Central Order Book: 09:00 – 18:30 CET
Large-in-Scale Facility: 07:15 – 18:30 CET
|Algorithm||Central order book applies a price-time trading algorithm with priority given to the first order at the best price.|
|Last update||25 November 2019|
Euronext indices calculates and distributes the AEX® Dividend Index.
The AEX® Dividend Index measures the cumulative value of ordinary gross dividends declared by the index constituents of the AEX-Index®. The value of the dividend index is expressed in terms of index points.
The AEX® Dividend Index is designed to serve as an underlying for futures contracts, providing investors with an additional tool to effectively manage the risk inherent in the dividends distributed by the index constituents.
The rules of the AEX-Index® and the AEX® Dividend Index are published on Rules indices [[link to: https://indices.euronext.com/en]].
|In the United States these products may only be offered and sold to prescribed entities under specified conditions.|
|Full contract specifications|