|Paris Listed Stock Options (American Style)|
|Contract size||One option normally equals rights over 100 underlying shares|
|Unit of trading||100|
|Pricing unit/quotation||Euros per share|
|Minimum price movement (tick size and value)||
Central Order Book: € 0.01 (€ 1 per contract)
Large-in-Scale Facility: € 0.0001 (€ 0.01 per contract)
|Option style||American style
Holders of long positions are entitled to exercise their options before or on the expiration date.
|Expiry months||Weekly; 1, 2, 3 monthly; 6, 9, 12 months quarterly (of the March, June, September, December cycle); 18, 24, 30, 36 months half yearly (of the June, December cycle) and 48, 60 months yearly (of the December cycle). See the document "Expiry Months Listed Per Class" in "Related documentation" to find out which expiry months are listed per class.|
|Introduction of new exercise prices and exercise price intervals||See the document "Series Introduction Policy for Individual Equity Option Contracts" 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. For weekly options see the document "Weekly Options Lifetime and Last Trading Day" in "Related documentation"|
|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. For weekly options see the document "Weekly Options Lifetime and Last Trading Day" in "Related documentation".|
|Exercise||Exercise is possible until 19:15 CET on any business day, extended to 19:45 CET on third Fridays|
|Settlement||Physical delivery of 100 shares (or other such number of shares as determined by the terms of the contract) through the settlement system of LCH S.A.|
|Settlement day||Two business days after the exercise 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 Pro Rata trading algorithm. With this algorithm priority is given to orders at the best price (highest for a bid, lowest for an offer). If there are several orders at this best price, equal priority is given to every order at this price and incoming business is divided among these orders in proportion to their volume.|
|Last update||21 April 2020|
| Apart from exceptions or temporary adjustments for corporate actions.
 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.
|In the United States these products may only be offered and sold to prescribed entities under specified conditions.|