Norges Bank Dated NOWA Futures83049700
ICE Futures Europe
Norges Bank Dated NOWA Futures
Description
The Norges Bank Dated NOWA Index Futures contract is a cash settled future based on the interest rate accrued over a Norges Bank Monetary policy meeting period.
Market Specifications
- Trading Screen Product Name
- Norges Bank Dated NOWA Futures
- Trading Screen Hub Name
- ICEU
- Contract Symbol
- NOR
- Underlying Index
- NOWA
- Delivery Month
- Consecutive delivery months, each covering a Norges Bank monetary policy meeting dates from meeting to meeting.
A maximum of up to twelve delivery months may be available for trading. - Contract Size
- NOK 10,000,000
- Currency
- SEK
- Unit of Trading
- NOK 25,000 x Rate Index
- Quotation
- 100.00 minus the numerical value of the rate of interest
- Contract
- NOK 25,000
- Minimum Price Fluctuation
- 0.00250 (NOK 62.50)
- Last Trading Day
- One business day after the Norges Bank Monetary Policy Meeting Date trading will cease at 18:00 (London Local Time) *
- First Underlying Accrual Day
- Two business day after the Norges Bank Monetary Policy Meeting Date
- Last Accrual Date
- One business day preceding the next Norges Bank Monetary Policy meeting Date
- Exchange Delivery Settlement Price
- Publication: LTD+1
100 minus the EDSP Rate. Based on NOWA, as calculated by the Benchmark Administrator for each business day, the EDSP Rate represents the effective rate of interest achieved by reinvesting at NOWA for each day of the accrual period of the contract. - Trading Hours
- 01:00 to 21:00 (LLT)
- Wholesale Trade Types
- Basis trading, Block Trading, Asset Allocation
- Clearing
- ICE Clear Europe
- Contract Standard
- Cash settlement based on the Exchange Delivery Settlement Price.
- Disclaimer
- The contracts have a standardised basis point value so that, for hedging purposes, a calculation will need to be made in relation to the hedge ratio to take into account any mismatch between the standardized basis point value and the actual basis point value of the position being hedged, determined by the actual number of days in the accrual period.
- MIC Code
- IFLL
- Clearing Venues
- ICEU
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 8:00 PM - 4:00 PM* 20:00 - 16:00 | 7:45 PM 19:45 |
| LONDON | 1:00 AM - 9:00 PM 01:00 - 21:00 | 12:45 AM 00:45 |
| SINGAPORE | 8:00 AM - 4:00 AM* 08:00 - 04:00 | 7:45 AM 07:45 |
Codes
- Clearing Admin Name
- NOK Rates
- Physical
- NOR
- Logical
- NOR
- GMI (FC)
- ION A.C.N.
- Symbol Code
- NOR