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Contract Specifications
Settlement
Physical delivery of underlying shares two exchange days after exercise.
Term
Up to 12 months: The three nearest successive calendar months and the three following quarterly months of the March, June, September and December cycle thereafter.
Up to 24 months: The three nearest successive calendar months, the three following quarterly months of the March, June, September and December cycle thereafter, and the two following semi-annual months of the June and December cycle thereafter.
Up to 60 months: The three nearest successive calendar months, the three (for Spanish equity options nine) following quarterly months of the March, June, September and December cycle thereafter, and the four (for Spanish equity options the nearest) following semi-annual months of the June and December cycle thereafter, and the two following annual months of the December cycle thereafter.
Products marked above with "incl. W" have four further expirations at the beginning at the term. Thus, together with the standard expiration, expirations of the five next successive calendar weeks are consistently available for trading.
Last trading day
Last trading day is the third Friday, for Italian equity options the day before the third Friday, of each expiration month, if this is an exchange day; otherwise, the exchange day immediately preceding that day. In addition, last trading day for equity options with weekly expiration cycle is the Friday, for such Italian equity options the day before the Friday, of the respective expiration week.
If the preceding exchange day is not in the same calendar month as the Friday of the expiration week, the last trading day shall be the exchange day following the Friday of the expiration week.
Daily settlement price
The daily settlement price is established by Eurex. The daily settlement prices for equity options are determined through the binomial model according to Cox/Ross/Rubinstein. If necessary, dividend expectations, current interest rates or other payments are taken into consideration.
Further details are available in the clearing conditions.
Exercise
American-style; an option can be exercised until the end of the Post-Trading Full Period (20:00 CET) on any trading day during the lifetime of the option.
European-style for equity options with group ID DE 14, CH14, FI14, FR14 and NL14; an option can only be exercised on the last trading day until the end of the Post-Trading Full Period (20:00 CET).
Exercise prices
Standard
| Exercise prices in EUR, CHF or USD | Exercise price intervals in EUR, CHF or USD for expiration months with a remaining lifetime of | |||
| 1 month* | ≤ 3 months | 4-12 months | > 12 months | |
EP ≤ 2.00 | 0.02 | 0.05 | 0.10 | 0.20 |
2.00 < EP ≤ 4.00 | 0.05 | 0.10 | 0.20 | 0.40 |
4.00 < EP ≤ 8.00 | 0.10 | 0.20 | 0.40 | 0.80 |
8.00 < EP ≤ 20.00 | 0.20 | 0.50 | 1.00 | 2.00 |
20.00 < EP ≤ 52.00 | 0.50 | 1.00 | 2.00 | 4.00 |
52.00 < EP ≤ 100.00 | 1.00 | 2.00 | 4.00 | 8.00 |
100.00 < EP ≤ 200.00 | 2.00 | 5.00 | 10.00 | 20.00 |
200.00 < EP ≤ 400.00 | 5.00 | 10.00 | 20.00 | 40.00 |
400.00 < EP | 10.00 | 20.00 | 40.00 | 80.00 |
* only for equity options with group IDs DE11, DE12, DE14, AT12, CH11, CH12, CH14, FI11, FI12, FI14, IT11, IT12 and SE12.
Spanish equity options
| Exercise prices in EUR | Exercise price intervals in EUR |
0.05 ≤ EP ≤ 0.95 | 0.05 |
1.00 ≤ EP ≤ 4.90 | 0.10 |
5.00 ≤ EP ≤ 9.75 | 0.25 |
10.00 ≤ EP ≤ 19.50 | 0.50 |
20.00 ≤ EP ≤ 49.00 | 1.00 |
50.00 ≤ EP ≤ 98.00 | 2.00 |
100.00 ≤ EP ≤ 195.00 | 5.00 |
200.00 ≤ EP ≤ 390.00 | 10.00 |
> 400.00 | 20.00 |
Belgian, French, Dutch and Swedish equity options
| Exercise prices in EUR/SEK | Exercise price intervals in EUR/SEK for expiration months with a remaining lifetime of | |||
| 1 month | ≤ 3 months | 4-12 months | ||
EP ≤ 5.00 | 0.05 | 0.10 | EP ≤ 4.80 | 0.20 |
5.00 < EP ≤ 10.00 | 0.10 | 0.20 | 4.80 < EP ≤ 10.00 | 0.40 |
10.00 < EP ≤ 25.00 | 0.20 | 0.50 | 10.00 < EP ≤ 26.00 | 1.00 |
25.00 < EP ≤ 50.00 | 0.50 | 1.00 | 26.00 < EP ≤ 52.00 | 2.00 |
50.00 < EP ≤ 100.00 | 1.00 | 2.00 | 52.00 < EP ≤ 100.00 | 4.00 |
100.00 < EP ≤ 200.00 | 2.00 | 5.00 | 100.00 < EP ≤ 200.00 | 10.00 |
200.00 < EP ≤ 400.00 | 5.00 | 10.00 | 200.00 < EP ≤ 400.00 | 20.00 |
400.00 < EP | 10.00 | 20.00 | 400.00 < EP | 40.00 |
| Exercise prices in EUR/SEK | Exercise price intervals in EUR/SEK for expiration months with a remaining lifetime of > 12 months |
EP ≤ 4.80 | 0.40 |
4.80 < EP ≤ 9.60 | 0.80 |
9.60 < EP ≤ 10.00 | 0.40 |
10.00 < EP ≤ 24.00 | 2.00 |
24.00 < EP ≤ 64.00 | 4.00 |
64.00 < EP ≤ 96.00 | 8.00 |
96.00 < EP ≤ 100.00 | 4.00 |
100.00 < EP ≤ 200.00 | 20.00 |
200.00 < EP ≤ 400.00 | 40.00 |
400.00 < EP | 80.00 |
British equity options
| Exercise prices in GBX | Exercise price intervals in GBX for expiration months with a remaining lifetime of | ||
| ≤ 3 months | 4-12 months | > 12 months | |
EP ≤ 52.00 | 1.00 | 2.00 | 4.00 |
52.00 < EP ≤ 100.00 | 2.00 | 4.00 | 8.00 |
100.00 < EP ≤ 200.00 | 5.00 | 10.00 | 20.00 |
200.00 < EP ≤ 400.00 | 10.00 | 20.00 | 40.00 |
400.00 < EP ≤ 800.00 | 20.00 | 40.00 | 80.00 |
800.00 < EP ≤ 2,000.00 | 50.00 | 100.00 | 200.00 |
2,000.00 < EP ≤ 4,000.00 | 100.00 | 200.00 | 400.00 |
4,000.00 < EP | 200.00 | 400.00 | 800.00 |
Irish equity options
| Exercise prices in EUR | Exercise price intervals in EUR for expiration months with a remaining lifetime of | ||
| ≤ 3 months | 4-12 months | > 12 months | |
EP ≤ 0.52 | 0.01 | 0.02 | 0.04 |
0.52 < EP ≤ 1.00 | 0.02 | 0.04 | 0.08 |
1.00 < EP ≤ 2.00 | 0.05 | 0.10 | 0.20 |
2.00 < EP ≤ 4.00 | 0.10 | 0.20 | 0.40 |
4.00 < EP ≤ 8.00 | 0.20 | 0.40 | 0.80 |
8.00 < EP ≤ 20.00 | 0.50 | 1.00 | 2.00 |
20.00 < EP ≤ 40.00 | 1.00 | 2.00 | 4.00 |
40.00 < EP | 2.00 | 4.00 | 8.00 |
Number of exercise prices
Upon the admission of the options, at least seven exercise prices shall be made available for each due date with a term of up to 24 months for each call and put, such that three exercise prices are in-the-money, one is at-the-money and three are out-of-the-money.
Upon the admission of the options, at least five exercise prices shall be made available for each due date with a term of more than 24 months for each call and put, such that two exercise prices are in-the-money, one is at-the-money and two are out-of-the-money.
Upon the admission of Dutch, Belgian and French options, at least nine exercise prices shall be made available for each due date with a term of up to 12 months for each call and put, such that four exercise prices are in-the-money, one is at-the-money and four are out-of-the-money.
Upon the admission of Dutch, Belgian and French options, at least seven exercise prices shall be made available for each due date with a term of more than 12 months for each call and put, such that three exercise prices are in-the-money, one is at-the-money and three are out-of-the-money.
Option premium
The premium is payable in full in the currency of the respective contract on the exchange day following the day of the trade.
Block Trades
The Minimum Block Trade Sizes (MBTS) of its T7 Entry Services and for its selective request for quote service Eurex EnLight (EMBTS) can be found in the file TES parameters under
Data > Trading files > T7 Entry Service parameters.
Market-Making Parameter
All quotation parameters at a glance
Mistrade Parameter
This file provides an overview of mistrade ranges for Options and Futures including information on their behavior close to expiration and in stressed markets.
Crossing Parameters
(section 2.6 Eurex Trading Conditions)
(1) Orders and Quotes relating to the same Instrument or Combined Instrument may, in case they could immediately be executed against each other, neither be entered knowingly by an Exchange Trader or several Exchange Traders of an Admitted Company (a “Cross Trade”) nor pursuant to a prior understanding between Exchange Traders of two different admitted companies (a “Pre-Arranged Trade”), unless the conditions according to Paragraph 2 have been fulfilled. The same shall apply for the entry of Orders as part of a Quote.
(2) A Cross Trade or a Pre-Arranged Trade is admissible if a participant in a Cross Trade or a Pre-Arranged Trade Eurex Trading System, announces his intention to execute a corresponding number of Contracts as Cross Trades or Pre-Arranged Trades in the Order Book (“Trade Request”). The buying participant has to ensure that he himself or the selling participant enters the Trade Request. The Order or Quote giving rise to the Cross Trade or Pre-Arranged Trade must be entered one second at the earliest and 121 seconds at the latest after the entry of the Trade Request. Entering a Trade Request without entering the respective Order or Quote is not admissible.
(3) Paragraphs 1 and 2 shall not apply to Transactions consummated during the netting process in an auction (Number 1.4 Paragraphs 2 and Paragraph 3).
(4) The automated entry functionality for Cross Trades or Pre-Arranged Trades of the Eurex Trading System may be used for entering Cross Trades or Pre-Arranged Trades. In this case, announcement and entry of the corresponding Orders pursuant to Paragraph 2 will be automated.
| Pre-Trading | Trading | Post-Trading | |||
|---|---|---|---|---|---|
| Full | Late1 | Late2 | Restricted | ||
| 07:30 | 08:52 | 17:20 | 19:00 | 19:30 | 20:00 |
| Pre-Trading | Trading | Post-Trading | |||
|---|---|---|---|---|---|
| Full | Late1 | Late2 | Restricted | ||
| 07:30 | 08:52 | 17:20 | 19:00 | 19:30 | 20:00 |
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
No cash payment in CHF
Eurex is closed for trading and clearing (exercise and settlement) in Swiss equity derivatives
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity derivatives (standard maturity/expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity derivatives (standard maturity/expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity derivatives (standard maturity/expiration)
Last Trading Day for equity options (weekly expiration)
No cash payment in NOK
No cash payment in DKK
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity derivatives (standard maturity/expiration)
Last Trading Day for equity options (weekly expiration)
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
Last Trading Day for equity options (weekly expiration)
No cash payment in NOK
No cash payment in SEK
No cash payment in DKK
No cash payment in CHF
Eurex is closed for trading and clearing (exercise and settlement) in Swiss equity derivatives
Last Trading Day for equity options (weekly expiration)
No cash payment in DKK
Last Trading Day for equity derivatives (standard maturity/expiration)
No cash payment in NOK
Last Trading Day for equity derivatives (standard maturity/expiration)
Eurex is closed for trading and clearing (exercise and settlement) in Swiss equity derivatives
No cash payment in DKK
No cash payment in NOK
No cash payment in CHF
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
No cash payment in DKK
No cash payment in SEK
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity derivatives (standard maturity/expiration)
No cash payment in SEK
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity derivatives (standard maturity/expiration)
Last Trading Day for equity options (weekly expiration)
Eurex is closed for trading and clearing (exercise and settlement) in Swiss equity derivatives
No cash payment in CHF
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity derivatives (standard maturity/expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity derivatives (standard maturity/expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity derivatives (standard maturity/expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity derivatives (standard maturity/expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity options (weekly expiration)
Last Trading Day for equity derivatives (standard maturity/expiration)
Eurex is closed for trading in all derivatives
No cash payment in SEK
No cash payment in DKK
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
Last Trading Day for equity options (weekly expiration)
Trading in selected derivatives on products traded on Xetra® and on the Vienna Stock Exchange will end earlier than usual - see Eurex circular 114/24 (https://www.eurex.com/ex-en/find/circulars/circular-4170768)
Eurex is closed for trading in all derivatives
No cash payment in DKK
No cash payment in SEK
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
| Fee Type | Fee |
|---|---|
| Exchange transactions: Standard fees (A-accounts) | CHF 0.22 per contract |
| Exchange transactions: Standard fees (M- and P-accounts) | CHF 0.15 per contract |
| Exchange transactions: Reduced fees A-accounts (contract volume above threshold) | CHF 0.11 per contract |
| Exchange transactions: Reduced fees P-accounts (contract volume above threshold) | CHF 0.08 per contract |
| TES transactions / Eurex EnLight: Standard fees (A-accounts) | CHF 0.22 per contract |
| TES transactions / Eurex EnLight: Standard fees (M- and P-accounts) | CHF 0.15 per contract |
| TES transactions / Eurex EnLight: Reduced fees A-accounts (contract volume above threshold) | CHF 0.11 per contract |
| TES transactions / Eurex EnLight: Reduced fees P-accounts (contract volume above threshold) | CHF 0.08 per contract |
| Threshold A-accounts | 1,000.00 contracts |
| Threshold P-accounts | 500.00 contracts |
| Exercise of options A-accounts | CHF 0.22 per contract |
| Exercise of options M- and P-accounts | CHF 0.15 per contract |
| Position transfer with cash transfer | CHF 13.00 per transaction |
Market Status ⓘ
XEUR
The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.
Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message.
We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.
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