- Trading Screen Product Name
- Three Month Euro (Euribor) Future
- Trading Screen Hub Name
- ICEU
- Contract Symbol
I
- Unit of Trading
One Three Month Euribor Futures Contract
- Contract Series
March, June, September, December, and four serial months, such that
twelve expiry months are available for trading, with the nearest
six expiry months being consecutive calendar months
- Contract Standard
Assignment of one three month Euribor futures contract at the
exercise price. The futures delivery month associated with each
option expiry month shall be: March the same year in respect of
January, February and March expiry months; June the same year in
respect of April, May and June expiry months; September the same
year in respect of July, August and September expiry months; and
December the same year in respect of October, November and December
expiry months
- Last Trading Day
For quarterlies, two business days prior to the third Wednesday of
the expiry month. On the Last Trading Day, trading in the expiring
month will cease at 10:00.
For serials, Friday before the third Wednesday of the expiry month.
On the Last Trading Day, trading in the expiring month will cease
at 15:15.
- Exercise Procedure
For quarterlies, exercise by 17:00 on any business day including
the expiry day. For serials, exercise by 17:00 on any business day,
brought forward to 16:00 on the Last Trading Day.
Exercise Price Intervals can be requested in 0.0625 (i.e. 0.0625%)
and 0.1250, (i.e. 0.1250%) e.g. 94.0000, 94.0625, 94.1250, 94.1875,
94.2500 etc for all expiry months. For a detailed Euribor Options
and Euribor Mid-Curve Options Strike Policy please see
here
- Delivery Date
Delivery on the first business day after the exercise day.
- Minimum Price Fluctuation
0.0025 (€6.25)
- Algorithm
Central order book applies a gradual time based pro-rata (GTBPR)
matching algorithm with a time-weighting of 1 (ie the algorithm is
effectively a priority pro-rata matching algorithm) with priority
given to the first order at the best price subject to a minimum
order size (collar) and limited to a maximum order size (cap).
- Wholesale Trade Types
Block Trading, Asset Allocation
Minimum Volume Thresholds can be found
here
- Additional Information
Potential users of the Options on Euribor Futures Contracts should
familiarize themselves with the terms of these contracts and with
the terms of the Underlying Futures Contract.
- Option Premium
The contract price is not paid at the time of purchase. Option
positions, as with futures position, are settled-to-market daily
giving rise to positive or negative variation margin flows. When
the Buyer exercises/abandons an option, the Buyer is required to
pay the original contract price to the Exchange's Clearing Houser
(CH) and the CH will pay the original option price to the Seller on
the following business day. Such payments will be netted against
the variation margin balances of Buyer and Seller by the CH.
- Disclaimer
EURIBOR-EMMI makes no warranty, express or implied, either as to
the results to be obtained from the use of EURIBOR and / or the
figure at which EURIBOR stands at any particular time on any
particular day or otherwise. EURIBOR - EMMI makes no express or
implied warranties of merchantability or fitness for a particular
purpose for use with respect to the product and excludes all
liability for any loss of business or profits or for any direct,
indirect or consequential loss or damage arising from use of the
EURIBOR.
- MIC Code
- IFLL
- Clearing Venues
- ICEU