Financial Derivatives

Futures Micro IBEX 35®

UNDERLYING ASSET IBEX 35 Index.
INDEX DESCRIPTION The IBEX 35 Index is a capitalization-weighted index comprising the 35 most liquid Spanish stocks traded in the Continuous Market.
MULTIPLIER 0,1 Euro.
CONTRACT SIZE The IBEX 35 index times the Multiplier.
PRICE QUOTATION In whole index points. Minimum fluctuation 1 point.
MAXIMUM PRICE FLUCTUTATION None.
EXPIRATIONS

Expirations available for trading, clearing and settlement will be the following:

  • The two nearest calendar months.
  • At the request of the members may be open weekly maturities if the Market and its reference Clearing House consider it appropriate.
EXPIRATION DATE

Third Friday of the month of maturity or the Friday of the weekly expiration.

LAST TRADING DAY The Expiration Date.
DAILY SETTLEMENT PRICE The same as in the IBEX 35 Futures.
SETTLEMENT PRICE AT EXPIRATION The same as in the IBEX 35 Futures.
DAILY SETTLEMENT OF GAINS AND LOSSES ("variation margin") Before the start of the session of the Business Day following the date of the transaction, by means of cash transfer of the difference with the Daily Settlement Price.
SETTLEMENT OF COMMISSIONS First business day following the date of the transaction.
SETTLEMENT AT EXPIRATION Settlement at Expiration of Contracts shall be made by cash transfer of the difference with the Settlement Price at Expiration.
MARGINS Variable in function to the portfolio of Options and Futures (see Circular on Margin Calculation Parameters). Margins shall be supplied before the start of the session of the Business Day following the date of the calculation.
AUCTION PERIOD From 7:55 a.m. to 8:00 a.m.
TRADING HOURS From 8:00 a.m. to 20:00 p.m.

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