The following is a brief description of tailor made clearing contracts on listed shares or indexes. For a contract specification, please consult chapter four in the Rules and Regulations for OMX Derivatives Markets, which is available here on the website.
American or European call or put options and forward contracts. Both delivery and cash settlement is possible for equity products.
Contract base:
The share or index shall be registered or listed on OMX or any other exchange or market approved by the exchange. Custom made indices calculated by OMX may also be used as contract base.
Contract size:
One hundred shares per contract when the contract base is equities. Re-calculation may occur in certain cases (see Re-calculation). If the contract base is an index the multiplier is depending on what currency the index is denominated in.
Series designation:
Indicate the designation for the contract base, expiration year and date, expiration month, exercise price (in case of option) and option type.
Exercise price (options):
Appears from the series designation. Re-calculation may occur in certain cases (see Re-calculation).
Premium/Price:
Agreed upon by the parties. Shall be expressed in the currency that the contract base is denominated in and indicate the price for one contract share.
Premium settlement day:
Follow the market practice on the market where the contract base is registered or listed.
Expiration day:
Any business day on the market where the contract base is registered or listed.
Last trading day:
The expiration day at the close of the electronic trading system for the series in question.
Exercise/Expiration:
Delivery of the relevant share occurs in exchange for an amount equivalent to the exercise price on the settlement day. Exercise may be requested up to the expiration day for American options.
Settlement day:
Delivery and payment for delivery occurs according to the market practice of the CSD where delivery takes place. Cash settlement follows the settlement cycles on the standardized markets.
Setting-off:
Setting-off may occur any time during the term except for forwards where no setting-off occurs.
Listing of new series:
Listed on request.
Re-calculationa:
Re-calculation can occur in certain cases in the event the share capital of the company is increased or decreased or the company is dissolved or ceases to exist through a merger as well as certain other events in accordance with the provisions set forth in the re-calculation rules.
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.
Trading and clearing in standardized options and futures are offered on Danish, Finnish, Icelandic, Norwegian, Russian and Swedish stocks, as well as on the tradable indexes OBX, OMXI15, OMXC20, OMXS30, OMXSB, VINX30 and FTSE Russian IOB. OMX Nordic Exchange also offers trading and clearing in Finnish stock loans, a clearing service for tailor-made derivatives contracts (TMC), and a clearing service for inter-bank traded fixed income derivatives.
Trading and clearing in OMX Nordic Exchange derivatives instruments are offered in a real-time link cooperation with EDX London and Oslo Børs. Options on the most traded Finnish shares as well as options and futures on Helsinki Stock Exchange's tradable index OMXH25 are traded at Eurex.
To the right are brief descriptions of the options and futures listed for trading and/or clearing. For detailed contract specifications, please consult the rules and regulations for derivatives, which is available here on the website. The Quotation List shows what underlying stocks, indexes and fixed income products standardized options and futures are listed.
