Stock and DR Derivatives

Norwegian stock derivatives

 Information covering Norwegian Stock Derivatives

OBX Trading hours

    

  

Norwegian stocks

  

  

Open

  

  

Close

  

Trading

08:00

15:20

Trade reporting

07:30

17:30

 

Norwegian stock expiries

 

3 months

6 / 9 months

12 months

24 months

Group 1 Norwegian stocks

January, February, April, May, July, August, October,   November

 

March, June, September, December

June, December

Group 2 Norwegian stocks

 

March, June, September, December

 

 

 

Norwegian Stock Futures

Contract Underlying

Norwegian Companies listed on Oslo Børs and listed in the

Turquoise Derivatives - Product List. [link to product list ]

Type of Contract

Physically settled Future Contracts with Daily Cash   Settlement.

Central Counterparty

LCH.Clearnet.

Trading Hours

08:00 - 15:20 London time for Orderbook trading.
  07:30 - 17:30 London time for Trade Reporting.

Multiplier

100 Shares.
  This may change in specific cases in accordance with the Recalculation Rules.  

Currency

NOK, Norwegian Kroner.

Quotation display

Future Price in NOK.

Tick Size and Tick Value

                                                                              
   

Premium

   

   

Tick Size

   

   

Tick Value

   

   

NOK 0.0 - NOK 9.99

   

   

NOK 0.01

   

   

NOK 1

   

   

NOK 10.0 - NOK 49.95

   

   

NOK 0.05

   

   

NOK 5

   

   

NOK 50.0 - NOK 149.90

   

   

NOK 0.10

   

   

NOK 10

   

   

NOK 150.0 - NOK 999.75

   

   

NOK 0.25

   

   

NOK 25

   

   

NOK 1000.0 - infinity

   

   

NOK 0.50

   

   

NOK 50

   

Settlement style

Physical Settlement by Delivery of the Underlying Stock on   Expiration with Daily Cash Settlement throughout the lifetime of the   Contract.

Listing Day

The Monday preceding the Expiration Day each month.
  Where this is not a normal Trading Day, the preceding Trading Day shall be   used.

Expiration Day

The third Thursday in the Expiration Month.
  Where this is not a normal Trading Day, the preceding Trading Day shall be   used.

Contract lifetimes and Expiration Months

Group One - Expiration every month
 
  Every month new future contracts are listed;
 
  3 months: January, February, April, May, July, August, October and   November.
 
  12 months: March and September lifetime.
 
  * For STL June and December series have a lifetime of 24 months.
 
  Group Two - Expiration every third month
  Out to 9 months:  March, June, September and December.
 
  * MHG and SDRL have a term of 6 months only.
 
  The Pro duct   List [link to   product list] shows all Stocks and their corresponding Group.

Daily Settlement Price

The official closing price of the Underlying Stock on Oslo   Børs each day adjusted for Fair Value.

Daily Cash Settlement

One Bank Day after the Trade Day/ calculation of Daily   Settlement Price for cash movements of Daily Settlement Amounts.

Expiration Settlement Price

The official closing price of the Underlying Stock on Oslo   Børs on Expiration Day.

Expiration Settlement

Three Bank Days after Expiration for Physical Delivery of   Stock against payment of Expiration Settlement Amount.

 

Russia IOB Depositary Receipt Derivatives

IOB Drs Trading hours  

    

  

IOB DRs

  

  

Open

  

  

Close

  

Trading

08:15

15:30

Trade reporting

07:30

17:30

 

IOB DR derivative expiries

 

 

IOB DR options, IOB DR futures

First two serial months and next four quarterly months of the   "March, June, September and December" expiry cycle.

 

IOB DR Futures

Contract Underlying

Depositary Receipts (DRs) on   International Companies listed on the London Stock Exchange´s (LSE)   International Order Book (IOB) and listed in the

Turquoise Derivatives - Product List.

Type of Contract

Physically settled Futures   Contracts with Daily Cash Settlement.

Central Counterparty

LCH.Clearnet.

Trading Hours

08:15 - 15:30 London time   for Orderbook trading.
  07:30 - 17:30 London time for Trade Reporting.

Multiplier

100 DRs.
  This may change in specific cases in accordance with the Recalculation Rules.  

Currency

USD, United States Dollar,   $.

Quotation display

Future Price in USD.

Tick Size and Tick Value

                                                                                                                                                                                 
   

Price

   

   

Tick Size

   

   

Tick Value

   

   

USD less than - USD 0.5

   

   

USD 0.0001

   

   

USD 0.01

   

   

USD 0.5 - USD 0.9995

   

   

USD 0.0005

   

   

USD 0.05

   

   

USD 1 - USD 4.999

   

   

USD 0.001

   

   

USD 0.10

   

   

USD 5 - USD 9.995

   

   

USD 0.005

   

   

USD 0.5

   

   

USD 10 - USD 49.99

   

   

USD 0.01

   

   

USD 1.0

   

   

USD 50 - USD 99.95

   

   

USD 0.05

   

   

USD 5.0

   

   

USD 100 - USD 499.9

   

   

USD 0.1

   

   

USD 10

   

   

USD 500 - USD 999.5

   

   

USD 0.5

   

   

USD 50

   

   

USD 1000 - USD 4999

   

   

USD 1

   

   

USD 100

   

   

USD 5000+

   

   

USD 5

   

   

USD 500

   

                   

Settlement style

Physical Settlement by   Delivery of the Underlying DR on Expiration with Daily Cash Settlement   throughout the lifetime of the Contract.

Listing Day

The Monday preceding the   Expiration Day each month. Where this is not a normal Trading Day, the   preceding Trading Day shall be used.

Expiration Day

The third Friday in the   Expiration Month. Where this is not a normal Trading Day, the preceding   Trading Day shall be used.

Contract lifetimes and   Expiration Months

First two serial months and   next four quarterly months of the "March, June, September and December   expiry cycle."

Daily Settlement Price

The official closing price   of the Underlying DR on the London Stock Exchange IOB on each day adjusted   for Fair Value and rounded (where applicable) up to four decimal places.

Daily Cash Settlement

One Bank Day after the Trade   Day/ calculation of Daily Settlement Price for cash movements of Daily   Settlement Amounts.

Expiration Settlement Price

The official closing price   of the Underlying DR on the London Stock Exchange IOB on Expiration Day.   Turquoise shall take this value and round up (where applicable) to the   nearest four decimal places to establish the Expiration Settlement Price.

Expiration Settlement

Three Trading Days after   Expiration for Physical Delivery of DRs against payment of Expiration   Settlement Amount.

 

Tailor-made IOB DR Future Contracts: Flexible Parameters

 

Such contracts are available   in accordance with Part 5 of the Rulebook allowing Members to specify   specific parameters

Members may specify;

Expiration Day (any Trading   Day out to Five years)

Future Price (to four   decimal places)

 

IOB DR Options

Contract Underlying

Depositary Receipts (DRs) on   International Companies listed on the London Stock Exchange (LSE)   International Order Book (IOB) and listed in the

Turquoise Derivatives -   Product List. [link to   Product list]

Type of Contract

European Style, physically   settled DR Call and Put Option Contracts.

Central Counterparty

LCH.Clearnet.

Trading Hours

08:15 - 15:30 London time   for Orderbook trading.
  07:30 - 17:30 London time for Trade Reporting.

Exercise Window

18:10 - 18:40 London time on   Expiration Day.

Multiplier

100 DRs. This may change in   specific cases in accordance with the Recalculation Rules.

Currency

USD, United States Dollar,   $.

Quotation display

Option Premium in USD up to   four decimal places.

Tick Size and Tick Value

                                                                              
   

Premium

   

   

Tick Size

   

   

Tick Value

   

   

USD less than USD 0.25

   

   

USD 0.005

   

   

USD 0.50

   

   

USD 0.25 - USD 2.00

   

   

USD 0.01

   

   

USD 1

   

   

USD 2.0 - USD 4.00

   

   

USD 0.05

   

   

USD 5

   

   

USD 4.0 - USD 10

   

   

USD 0.10

   

   

USD 10

   

   

USD 10+

   

   

USD 0.25

   

   

USD 25

   

Settlement style

Physical Settlement.

Option style

European Style.

Listing Day

The Monday preceding the   Expiration Day each month.
  Where this is not a normal Trading Day, the preceding Trading Day shall be   used.

Expiration Day

The third Friday in the   Expiration Month.
  Where this is not a normal Trading Day, the preceding Trading Day shall be   used.

Contract lifetimes and   Expiration Months

First two serial months and   first four quarterly contracts of the "March, June, September and   December expiry cycle".

End of Day Price

Used for margining purposes,   based on the volatility surface, itself dependent on; quotes per series,   Underlying spot price, applicable interest rate, dividend amount (if   applicable), ex-dividend date (if applicable), the second order interpolation   and the arbitrage free surface rounded (where applicable) up to four decimal   places.

Exercise Settlement Price

The official closing price   of the Underlying DR on the London Stock Exchange IOB on Expiration Day.   Turquoise shall take this value and rounded (where applicable) up to four   decimal places.

Exercise Settlement

Three Bank Days after   Exercise for Physical Delivery of DR against payment of Exercise Settlement   Amount.

Premium Settlement

One Bank Day after the Trade   Day.

 

Tailor-made IOB DR Option Contracts: Flexible Parameters

 

Such contracts are available   in accordance with the Part 5 of the Rulebook allowing Members to specify   specific parameters

Members may specify;

Expiration Day (any Trading   Day out to Five years)

Premium (to four decimal   places)

Strike Price (to four   decimal places)