|
Product Description
The EUROTOP 100 Index measures the collective performance of the most actively traded stocks on Europe's major
stock exchanges and is designed to be representative of the European stock market as a
whole.This broad-market index is calculated continually from 5 a.m. to 11:30 a.m. New
York time (11 a.m. to 5:30 p.m. Central European Time) and disseminated approximately
every 15 seconds.
|
Index Components
The EUROTOP 100 Index (index symbol: E100) is composed of 100 of the most actively traded
stocks in nine European countries: Belgium, France, Germany, Italy, The Netherlands,
Spain, Sweden, Switzerland and the United Kingdom. The Index is weighted based on each
country's total stock market capitalization and Gross National Product (GNP). This
weighting determines a country's total number of stocks as well as the number of shares of
the stocks represented in the Index.
(Link to EUROTOP 100) |
|
Trading Unit
The minimum trade size is one option contract. The notional value underlying each contract equals $100 multiplied by
the EUR value. |
|
Expiration Cycle
Three consecutive near-term expiration months plus two successive months from the March cycle. |
|
Expiration
The Saturday following the third Friday of the expiration month. |
|
Last Trading Day
Two business days prior to expiration (normally a Thursday). |
|
Limited Exercise of Options
European style. Options may be exercised only on the last business day prior to expiration (normally a Friday). Writers are subject to assignment only at expiration. Check with your broker to ascertain cut-off times for exercise and provisions for automatic exercise |
|
"Delivery" Method if Exercised
Cash settlement based on the dollar difference between the final settlement value of EUR and the strike price of the contract multiplied by $100. |
|
Exercise Price Intervals
Exercise (strike) prices are set at five-point intervals, bracketing the current Index value when the Index is above 200. If the Index is below 200, the interval will be 2 ˝ points. |
|
Final Index Settlement Value
Determined on the last business day prior to expiration, based on an average of Index’s values (omitting the 12 highest and 12
lowest values) taken every fifteen seconds between 6:40 a.m. and 7 a.m. New York time. In the
event that an Index primary exchange is not open for trading on expiration Friday, the final
settlement value will be calculated on the first preceding day when all primary exchanges are open. |
|
Settlement
Next New York business day following expiration. |
|
Position Limits
25,000 contracts on the same side of the market, provided that no more than 15,000 of such contracts are in the
nearest expiration month series |
|
Minimum Customer Margin for Uncovered Writers
Premium plus 15% of the aggregate EUR value (EUR value x 100) reduced by any out-of-the-money amount to a minimum
of premium plus 10% of the aggregate EUR value. |
|
Trading Hours
8:30 a.m. to 11:30 a.m., New York time. |
|
Trading System
Specialist/Registered Options Trader. |
|
CUSIP Number
031121106 |
|
Trading Symbol
EUR (Index Symbol: E100) |
|
Final Settlement Value Symbol
EUV |
|
Index Components
Components list as of 07/23/01
| The EUROTOP
100 Index is composed of shares of the following issues: |
| Belgium |
Nokia EUR 0.24 |
Spain |
Banco Bilbao
Vizcaya Argentaria |
| |
SONERA |
|
Banco
Santander Central Hispano |
| |
FORTIS (B) |
|
ENDESA |
| France |
Alcatel SA |
|
Repsol -
YPF SA |
| |
Aventis SA |
|
TELEFONICA
DE ESPANA ORD PTA500 |
| |
AXA-UAP |
|
|
| |
BNP Paribas |
Sweden |
Ericsson B |
| |
BOUYGUES FFR100 |
|
Hennes &
Mauritz ‘B’ SKR1 |
| |
CANAL+ |
|
Skandia
Forsakring SKR25 |
| |
CAP GEMINI SA |
|
|
| |
Carrefour |
Switzerland |
ABB Ltd. |
| |
France Telecom |
|
Credit Suisse
Group CHF 500 |
| |
LOreal |
|
Nestle SFR100
Reg |
| |
LVHM |
|
Novartis SF20
(REGD) |
| |
Pinault-
Printemps/La Redoute |
|
Roche Hldgs
(Gennus) PTG NPV |
| |
Sanoufi-
Synthelabo SA |
|
Roche Hldgs
(BR) SFR100 |
| |
SOC GENERALE
DE FRANCE FFR30 |
|
Swiss
Reinsurance (Reg.) 10 CHF |
| |
ST
Microelectronics |
|
Swisscom |
| |
Suez-Lyonnaise
Des Eaux |
|
UBS AG |
| |
Total
Fina Elf SA |
|
Zurich
Financial Services |
| |
Vivendi
EUR 16.5 |
|
|
| |
|
United
Kingdom |
Abbey National
PLC |
| Germany |
Allianz AG |
|
Anglo American PLC |
| |
BASF NPV |
|
AstraZeneca
PLC |
| |
Bayer AG
DEM5 |
|
BAE Systems |
| |
Bayerische
Hypo-und Vereinsbank AG |
|
Barclays PLC |
| |
BMW (BR.) |
|
British Sky
Broadcasting Group PLC |
| |
Commerzbank AG
DM50 |
|
BG Group PLC |
| |
Daimler
Chrysler |
|
BP Amoco PLC |
| |
Deutsche Bank
AG NPV |
|
British
Telecommunications PLC |
| |
Deutsche
Telekom NPV |
|
CGNU PLC |
| |
Dresdner Bank |
|
Cable &
Wireless PLC |
| |
E.ON |
|
Colt
Telecom Group PLC |
| |
INFINEON
TECHNOLOGY |
|
Diageo PLC |
| |
MUENCHENER
RUECKVERSICHERUNGS REG NPV |
|
Glaxo Wellcome
PLC |
| |
RWE AG DM5 |
|
Halifax Group
PLC |
| |
SAP AG N/V PRF |
|
HSBC Holdings
PLC |
| |
SAP AG ORD |
|
Lloyds TSB
Group PLC |
| |
Siemens AG |
|
Marconi PLC |
| |
|
|
Pearson PLC |
| Italy |
Banca
Intesa ORD LIT1000 |
|
Prudential
PLC |
| |
ENEL SPA |
|
Reuters
Group |
| |
Ente Nazionale
Indrocarburi (ENI) |
|
Rio Tinto
PLC (Reg) |
| |
Generali
Assicurazioni |
|
Royal Bank
Scotland Group PLC |
| |
Olivetti Spa |
|
Scottish
Power PLC |
| |
San Paolo-IMI |
|
Shell
Transport & Trading PLC (Reg) |
| |
Telecom Italia
Mobile |
|
Tesco PLC |
| |
TELECOM ITALIA
ORD |
|
Unilever
PLC |
| |
TECNOST |
|
Vodafone
AirTouch PLC |
| |
Uni Credito
Italiano LIT500 |
|
|
| |
|
|
|
| The
Netherlands |
ABN Amro
Holdings |
|
|
| |
Aegon NV |
|
|
| |
Ahold NFL0.50 |
|
|
| |
INTL.
NEDERLANDEN GROUP NLGI |
|
|
| |
KONINKLIJKE
PHILIPS ELECTRONIC |
|
|
| |
Royal
Dutch Petroleum NFL1.25 |
|
|
| |
ROYAL
KPN NV |
|
|
| |
Unilever NV
CVA NFLI |
|
|
|
