One option normally equals rights over 1000 shares¹
Pence per share
0.5 pence per share / £5.00
0.25 pence per share / £2.50³
16:30 Third Friday in expiry month
08:00 - 16:30*
July 2013 Onwards
Central order book applies a price-time trading algorithm with priority given to the first order at the best price.
Block Trading and Bclear.
ICE Clear Europe Limited
Exercise by 18:30 on any business day
March Cycle (M): means the 3 nearest expiry months from Mar, Jun, Sep, Dec cycle²
Settlement Day is four business days following the day of exercise/Last Trading Day
* Block Trades can be reported until 17:30
1 - Due to corporate action contract adjustments some equity options series may have a non-standard contract size.
2 - Serial longer-dated expiry months have been introduced on some equity options.
3 - Some equity options have a minimum price movement of 0.25 pence.
Contract Standard: Delivery will be 1,000 shares (or other such number of shares as determined by the terms of the contract).
Exercise Price Intervals: The interval between the exercise prices is set according to a fixed scale determined by the Exchange. LON2835
Introduction of new exercise prices: A price established on the trading day will used as the reference to determine the introduction of additional exercise prices on the next trading day in order to list the minimum number of exercise prices as determined by the strike introduction policy. LON3259
Option Premium: is payable in full by the buyer on the business day following a transaction.
Unless otherwise indicated, all times are London times.
In the United States these products may only be offered and sold to prescribed entities under specified conditions.