Narrow Based Index Contract Specifications
Last Updated on July 19, 2005
Contract Specifications
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Contract Size |
Sum of component securities shares x component prices |
|
Minimum Price Fluctuation |
$0.01 index points($10.00 per contract) |
|
Regular Trading Hours |
8:30 a.m. – 3:00 p.m. Central Time |
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Position Limits |
During the last five trading days 1,000 contracts |
|
Daily Price Limits |
None |
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Reportable Position Level |
200 Contracts |
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Contract Months |
No more than three quarterly and two serial contract months at any point in a calendar year |
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Expiration Date/Final Settlement Date |
Third Friday of the expiration month, unless the Exchange is not open for trading in which case the expiration date will be the preceding business day |
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Settlement |
Cash settled upon the expiration of the contract. Final settlement price will be based on the opening prices of the component securities on the Final Settlement Date |
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Last Trading Day |
Trading day prior to Expiration Date |
Additional Information
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Margin Requirements |
Initial and maintenance margin requirement of 20% of the cash value of the contract. |
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Weighting Methodology |
Approximate equal dollar weighting |
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Clearing and Settlement |
Trades executed at OneChicago are cleared and settled by the Options Clearing Corporation (OCC) |
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Corporate Event Contract Notice |
Pursuant to Rule 1006 Corporate Action Summary A for Approximately Equal-Dollar Weighted Indexes with selection of option (1) for extraordinary removal of components |