Option on Three Month ESTR83047280
ICE Futures Europe
Option on Three Month ESTR
Description
Option On Three Month ESTR Future
Market Specifications
- Trading Screen Product Name
- Three Month ESTR Indexed Future
- Trading Screen Hub Name
- ICEU
- Contract Symbol
- ER3
- Underlying Contract
- Three Month ESTR.
- Contract Series
- 8 Quarterly and 4 Serial
- Contract Standard
- Assignment of one Three Month ESTR futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November, and December expiry months.
- Last Trading Day
- Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
- Expiry
- Expiry Time: 16:00
- Exercise Procedure
- Last Trading Day for Serial Expiry Months: 16:00
- Cabinet Transaction Value
- €2.50
- Strike Price Intervals
- For all expiry months: 0.06250, (i.e. 0.06250%) eg 99.06250, 99.12500, 99.18750, 99.25000 etc
etc... - Introduction of New Exercise Prices
- A minimum of 25 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.
- Algorithm
- Central order book applies a gradual time based pro-rata (GTBPR) matching algorithm with a time-weighting of 1 and 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).
- 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.
- Wholesale Trade Types
- Block Trading, Asset Allocation
Minimum Volume Thresholds can be found here - Minimum Price Fluctuation
- 0.0025 (€6.25)
- MIC Code
- IFLL
- Clearing Venues
- ICEU
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 2:00 AM - 12:00 PM 02:00 - 12:00 | |
| LONDON | 7:00 AM - 5:00 PM 07:00 - 17:00 | |
| SINGAPORE | 3:00 PM - 1:00 AM* 15:00 - 01:00 |
Codes
- Clearing Admin Name
- O-ESTR 3 Month
- Physical
- ER3
- Logical
- ER3
- GMI (FC)
- ION A.C.N.
- Symbol Code
- ER3