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Mini FTSE 100 (UKX)

Profile | Components | Product Specs | Main Index Page


Symbol UKX
Index Description The FTSE 100 Index is a capital-weighted index representing the most highly capitalized blue-chip companies listed on the London Stock Exchange. The companies in the FTSE 100 represent approximately 80% of the UK market. The Mini FTSE 100 Index represents 1/10th of the full value of the Full-Size FTSE 100 Index.
Index Multiplier 100. The index multiplier means that the options premiums are multiplied by 100 to obtain the actual premium amount.
Strike Price Interval Strike price intervals are at least $2.50.
Minimum Trading Increments The minimum trading increment for an options contract trading at less than $3.00 is $0.05. The minimum trading increment for an options contract trading at $3.00 or higher is $0.10.
Expiration Date Saturday following the third Friday of the expiration month.
Expiration Months Up to three near-term months followed by three additional months from the March quarterly cycle (March, June, September and December). LEAPS may also be available.
Exercise Style European. Options generally may be exercised only on the last business day before expiration.
Last Trading Day Trading will ordinarily cease on the business day (usually a Thursday) preceding the day on which the exercise-settlement value is calculated.
Settlement Type A.M., cash settlement
Settlement  Value Symbol XUK
Settlement Value The exercise-settlement value (known as the Exchange Delivery Settlement Price or EDSP) is calculated by the London Stock Exchange’s intra-day auction of all the component securities on the third Friday of the expiration month, and published at approximately 5:31 A.M. New York time. The exercise-settlement amount is equal to the difference between the exercise-settlement value or EDSP and the exercise price of the options, multiplied by $100. Exercise will result in delivery of cash on the business day following expiration.
Position and Exercise Limits The aggregate position and exercise limits are 250,000 Mini contracts on the same side of the market with no more than 150,000 Mini contracts in the near-term month. Note that 10 Mini contracts are equivalent to 1 Full-Size contract. An index options hedge exemption for public customers may be available for certain diversified portfolios, which may expand the position limit up to an additional 750,000 Mini contracts. In addition, proprietary accounts of members may receive an exemption up to 500,000 Mini contracts for the purpose of facilitating public customer orders. Position and exercise limits are subject to change.
Trading Hours 9:30 A.M. - 4:15 P.M. Eastern Time (New York time).