|Lisbon Listed Stock Futures|
|Contract size||One future 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 & Large-in-Scale Facility: € 0.0001 (€ 0.01 per contract)|
|Expiry months||1, 2, 3 monthly and 6, 9, 12 months quarterly (of the March, June, September, 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 16:40 Lisbon time 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 cash market closing price of the underlying stock on the Last Trading Day.|
|Clearing organization||LCH S.A.|
|Trading hours||Central Order Book: 09:01 – 17:40 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|
|This product may not be offered and sold to US persons.|
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