OMXSB™ (Stockholm Benchmark index) is a tradable index where most sectors on The Nordic Exchange in Stockholm are represented. Each company’s weight is based on market capitalization adjusted for the free float. The index consists of the 80 to 100 largest and most liquid stocks. This makes OMXSB™ an excellent instrument for quickly and efficiently increasing or decreasing exposure to the overall trend on the Swedish stock market.
Futures on OMXSB™ are based on a gross index where dividends are reinvested in the index. Combined with the broad company exposure the characteristics of the product make it unique.
The following is a brief description of futures on OMXSB™ index. For a detailed contract specification, please consult chapter four in the Rules and Regulations for OMX Derivatives Markets, which is available here on the website.
Download a printer friendly product description here: Futures on OMXSB
Facts
Type of contract:
Futures contract with daily cash settlement.
Contract base:
The Swedish OMXSB™ gross index (GI).
Index provider:
The Nordic Exchange in Stockholm.
Contract size:
Index value * SEK 100.
Series term:
Contracts with terms of six and twenty four months are listed in accordance with what is stated in the quotation list.
Series designation:
Indicate the designation for the contract base, expiration year and expiration month.
Futures price:
Agreed upon by the parties. Shall be expressed in Swedish Kronor and cover the price for one one-hundredth of a contract. Re-calculation of the futures price may occur in certain cases (see Re-calculation).
Expiration day:
The third Friday in the expiration month of the expiration year, or if this day is not a Swedish bank day or is declared to be a half trading day, the previous bank day.
Last trading day:
The expiration day at the close of the electronic trading system for the series in question.
Daily cash settlement:
Daily cash settlement is paying or receiving a settlement amount on a daily basis. The settlement amount is the difference between previous day's futures closing price and current day's futures closing price. The settlement day for the cash settlement is the Swedish bank day following the mark-to-market day.
Final settlement:
The final settlement is the difference between the previous day's future closing price and a volume weighted average price of the OMXSB™ index (GI) on the expiration day. Payment of settlement occurs on the first Swedish bank day following the expiration day.
Setting-off:
Setting-off may occur any time during the term.
Listing of new expiration month:
A new expiration month is listed four Swedish bank days prior to expiration of previous futures series.
Re-calculation:
In the event of a planned index change other than that which is set forth in the terms for the index (deflation of the index or other similar event), a re-calculation of the futures price may occur with regards to the planned index change.
All information provided herein shall be deemed to be general information and under no circumstances constitute any recommendation regarding investments. The reader shall be personally liable for risks associated with any investment based on the information provided in this document. Notwithstanding that the accuracy of the information provided herein has been verified, NASDAQ OMX, or any other subsidiary of NASDAQ OMX, assumes no liability with respect to the accuracy or use of such information. Trading in options and other derivatives instruments may involve risks, advice therefore with your bank or broker before executing a trade. For current rules for trading and clearing of options and futures please see Rules and Regulations for OMX Derivatives Markets.
