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 Equity Options on Liffe Market Shares
Taille du contrat One option normally equals rights over 1000 shares1
Mois d'échéance March Cycle (M): means the 3 nearest expiry months from Mar, Jun, Sep, Dec cycle 2
Cotation Pence per share
Echelon minimum de cotation 0.5 pence per share / £5.00 0.25 pence per share / £2.503
Jour d'exercice Exercise by 17:20 on any business day, extended to 18:30 for all series on a Last Trading Day
Dernier jour de négociation 16:30 Third Friday in expiry month
Jour de liquidation Settlement Day is four business days following the day of exercise/Last Trading Day
Heures de cotation 08:00 - 16:30
Documentation
List of Approved Options for sale to US entities (Appendix 2 of General Notice) (No. 436)
Option Contract on Equity Shares (Denominated in Sterling)(No. 201) (22/01/08)
List of Equity Shares in Repect of of Exchange Contract (No. 201) (30/03/09)
Option Contract On Equity Shares (Denominated In Euro) (No. 203) (16/03/07)
Equity Related Security Contract (Company Shares and Depositary Receipts) (No. 211) (16/05/08)
List of Equity Shares in Respect of Exchange Contract (No. 211) (01/04/09)

1 - Due to corporate action contract adjustments some equity options series may have a non-standard contract size.

2 - Serial longer-dated expiry months have been introduced on some equity options.

3 - Some equity options have a minimum price movement of 0.25 pence.

Trading Platform:

  • LIFFE CONNECT®
  • Algorithm: Central order book applies a price-time trading algorithm with priority given to the first order at the best price.
  • Wholesale Services: Block Trading and Bclear.

Contract Standard: Delivery will be 1,000 shares (or other such number of shares as determined by the terms of the contract).

Exercise Price Intervals: The interval between the exercise prices is set according to a fixed scale determined by the Exchange.

Introduction of new exercise prices: Additional exercise prices will be introduced after the underlying index level has exceeded the second highest, or fallen below the second lowest, available exercise price.

Option Premium: is payable in full by the buyer on the business day following a transaction.

Clearing: LCH.Clearnet Ltd

Unless otherwise indicated, all times are London times.
In the United States these products may only be offered and sold to prescribed entities under specified conditions.