World Currency Options Help - Euro Product Specifications


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Euro Product Specifications

Description: PHLX U.S. dollar-settled Euro currency options are quoted in terms of U.S. dollars per unit of the underlying currency (Euro) and premium is paid and received in U.S. dollars.

Contract Size: 10,000 Euros

Trading Symbol: XDE

Alternate Symbol**: EAE
If you are unable to find a strike price under the trading symbol, try the alternate symbol.

Half Point Strike Symbols: EPA

Half Point Strike Alternate Symbol**: EAY
If you are unable to find a half point strike price under the half point strike symbol, try the alternate symbol.

Settlement Value Symbol: EDY

CUSIP® Number: 69336Y

Exercise Style: European

Expiration Date: Saturday following the third Friday of the expiration month.

Expiration Cycle: Quarterly on the March cycle plus two additional near-term months (six months at all times).

Settlement: U.S. dollars

Settlement Value for Expiring Contracts: Based on the 12:00 Noon (Eastern Time) Buying Rate, as determined by the Federal Reserve Bank of New York on the last trading day prior to expiration (usually a Friday). If the Noon Buying Rate is not announced by 5:00 p.m. (Eastern Time), the closing settlement value will be the most recently announced Noon Buying Rate, unless the Exchange determines to apply an alternative closing settlement value as a result of extraordinary circumstances. The settlement value is disseminated under the symbol EDY. Consult PHLX Rule 1057 for further information.

Last Trading Day for Expiring Contracts: The third Friday of the expiration month.

Contract Point Value: $100 (i.e., .01 x 10,000)

Exercise (Strike) Price Intervals: The Exchange shall determine fixed-point intervals of exercise prices. Generally, the exercise (strike) price interval shall be set at half-cent intervals. Consult PHLX Rule 1012 for further information.

Premium Quotation: One point = $100. Thus a premium quote of 2.13 is $213. The minimum change in a premium is .01= $1.00.

Position Limits: 200,000 contracts on the same side of the market. Hedge exemptions are available. For more information consult PHLX Rules 1001 and 1002.

Trading Hours: 9:30 a.m. to 4:00 p.m. (Eastern Time)

Issuer and Guarantor: The Options Clearing Corporation (OCC)

 

* Product specifications are subject to change.

** Fluctuations in the underlying may cause a "wrap around" situation whereby alternate symbols may be used.

Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options ("ODD"). Copies of the ODD are available from your broker, by calling 1-888-OPTIONS, or from The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, IL 60606. The information on this Website is provided solely for general education and information purposes and therefore should not be considered complete, precise, or current. Many of the matters discussed are subject to detailed rules, regulations, and statutory provisions which should be referred to for additional detail and are subject to changes that may not be reflected in the Website information. The Philadelphia Stock Exchange assumes no responsibility for any errors or omissions in the Website. No statement within the Website should be construed as a recommendation to buy or sell a security or to provide investment advice.

Prior to recommending or trading the PHLX World Currency Option Product, be sure to contact your firm's compliance department regarding registration, qualification and approval requirements at your firm.

PHLX World Currency Options® is a registered trademark of The NASDAQ OMX Group, Inc.