|PSI 20® Index Options|
|Exchange contract code||PSX|
|Contract size||Contract valued at € 1 per index point (e.g. value € 5,400 at 5,400.00)|
|Unit of trading||1|
|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 PSI 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 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.|
|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)||The closing price of the PSI 20 Index (17:40 CET) on the Last Trading Day.|
|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.|
|Last update||25 November 2019|
| 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.
|This product may not be offered and sold to US persons|