- Trading Screen Product Name
- Medium Italian Bond (BTP) Future
- Trading Screen Hub Name
- ICEU
- Contract Symbol
I05
- Unit of Trading
€100,000 nominal value notional euro-denominated Italian
Government Bond with 6% coupon
- Delivery Date
10th calendar day of the respective quarterly month. If such day is
not a business day, delivery shall occur on the next succeeding
business day
- Delivery Month
March, June, September, December, such that the nearest two
delivery months are available for trading
- Quotation
Per €100 nominal
- Minimum Price Fluctuation
0.01 (€10)
- Last Trading Day
Two business days prior to the Delivery Day of the relevant
maturity month. On the Last Trading Day, trading in the front month
will cease at 11:30 hours.
- Exchange Delivery Settlement Price
The London market price at 11:30 hours on the Last Trading Day. The
invoicing amount in respect of each Deliverable Bond is to be
calculated by the price factor system
- Algorithm
Central order book applies a first in first out (FIFO) matching
algorithm.
- Off Exchange Trade Types
Basis Trading, Block Trading.
- Maturities
4 years and 6 months to 6 years
- Contract Standard
Delivery may be made of any bonds on the List of Deliverable
Euro-denominated Italian Government Bonds in respect of a delivery
month of an Exchange Contract, as published by the Exchange. All
bond issues included in the List will have the following
characteristics: Having terms as to redemption that provide
for redemption of the entire Euro-denominated Italian Government
Bond issue in a single instalment such that the length of time to
the maturity date from the Delivery Day of the relevant delivery
month is within the maturity range for the relevant Exchange
Contract specified by the Board in the Contract Details; Where
relevant, having an original term to maturity, such that the length
of time from the issue date to the maturity day of the
Euro-denominated Italian Government Bond issue is within the
original term for the relevant Exchange Contract specified by the
Board in the Contract Details; Having no terms permitting or
requiring early redemption; Bearing interest at a single fixed rate
throughout the term of the issue payable in arrears semi-annually
(except in the case of the first interest payment period which may
be more or less than half a year); Being denominated and payable as
to principal and interest only in Euro and Eurocents; Not being
callable ; and Having an aggregate principal amount outstanding of
not less than €5 billion which, by its terms and conditions,
if issued in more than one tranche or tap or issue, is fungible.
- Additional Information
Potential users of the European Government Bond Futures Contracts
should familiarize themselves with the relevant Contract Terms and
Administrative Procedures. Potential users should consider the
risks of holding a position until the Last Trading Day of a
Contract wherein they shall be buyers or sellers in the delivery
process. In particular, they should familiarize themselves with the
use of Price Factors and the EDSP price formation process as these
are both constituents of the formula for the calculation of the
invoicing amount.
NOTE: All times are London, unless otherwise stated
- MIC Code
- IFLL
- Clearing Venues
- ICEU