|BEL 20® Index Options|
|Exchange contract code||BEL|
|Contract size||Contract valued at € 10 per index point (e.g. value € 25,000 at 2500.0)|
|Unit of trading||10|
|Pricing unit/quotation||Euros per index point|
|Minimum price movement (tick size and value)||See applicable tick size table |
|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 months quarterly (of the March, June, September, December cycle)|
|Introduction of new exercise prices and exercise price intervals||See the document "Series Introduction Policy BEL 20 Index 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.
|Last trading day||Trading ceases at 16:00 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|
|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 as the average of all BEL20 index values calculated and disseminated between, and including, 15:40 and 16:00 CET. The EDSP value is rounded to two 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: 09:01 – 17:30 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. 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||21 April 2020|
| See the document "Financial derivatives tick sizes" in "Related documentation" to find the applicable tick table per class.
 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.
 Please refer to Brussels Notice BRU 12–05 issued on 26 July 2012 which provides details of the procedures to be followed when determining the closing settlement price in case of special market circumstances.
|In the United States this product may only be offered and sold to prescribed entities under specified condition.|