- Trading Screen Product Name
- Short Spanish Bond Future
- Trading Screen Hub Name
- ICEU
- Contract Symbol
S02
- Unit of Trading
€100,000 nominal value notional euro-denominated Spanish
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
1 year to 3 years
- Contract Standard
Delivery may be made of any bonds on the List of Deliverable
Euro-denominated Spanish 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 Spanish Government Bond
issue in a single installment 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; Having no terms
permitting or requiring early redemption; Bearing interest at a
single fixed rate throughout the term of the issue payable in
arrears annually (except in the case of the first interest payment
period which may be more or less than 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