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Index Options - AEX-index - Daily

  AEX-index® Daily Options 
Exchange contract code A1, A2, A3, A4, A5, A6, A7, A8, A9, A10, A11, A12, A13, A14, A15, A16, A17, A18, A19, A20, A21, A22, A23, A24, A25, A26, A27, A28, A29, A30, A31
Contract size Contract valued at € 100 per index point (e.g. value € 39,000 at 390.00)
Unit of trading 100
Pricing unit/quotation Euros per index point
Minimum price movement (tick size and value) Central Order Book:
If the premium of an order at order entry is below or equal to the premium threshold, the tick size is € 0.01 (€ 1 per contract)
If the premium of an order at order entry is above the premium threshold, the tick size is € 0.05 (€ 5 per contract)
The premium threshold is equal to € 1.50

Large-in-Scale Facility: € 0.01 (€ 1 per contract)

Option style European style
Holders of long positions are only entitled to exercise their options on the expiration date.
Expiry months Provided that the day is a normal business day and provided that no other monthly or weekly AEX-index option expires on that day, the option class with symbol A1 expires on the first calendar day of a month, the option class with symbol A2 expires on the second calendar day of a month, the option class with symbol A3 expires on the third calendar day of a month, etc.
Introduction of new exercise prices and exercise price intervals See the document "Series Introduction Policy AEX-index Options" in "Related documentation" to find the series introduction policy.
Introduction of new expiry months The first day of trading of a daily option class is the first normal business day preceding the expiry day
Wholesale services Large-in-Scale Facility.
See the “Euronext Wholesale Facilities” document for the minimum size thresholds.
Euronext market Amsterdam
Last trading day Trading ceases at 16:00 CET on the last trading day of the specific daily option class.
Exercise Exercise until 19:15 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 as the average of the AEX-index values calculated and disseminated at one minute intervals between, and including, 15:30 and 16:00 CET. The EDSP value is rounded to two decimal places[2]
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: 07:00 – 18:30 CET
Trading platform UTP
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 3 June 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.
[2] Please refer to Amsterdam Notice AN 12–22 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.