Product Specifications: British Pound (BPX)
The underlying value for ISE FX Options® on the exchange rate USD/GBP. The underlying value represents the exchange rate between the US dollar (base currency) and the British pound (counter currency) times 100.
|Premium Multiplier||$100. The multiplier means that the options premiums are multiplied by $100 to obtain the actual premium amount.|
|Strike Price Interval||
Strike price increments are $0.10 minimum, but in most cases $0.50.
|Minimum Trading Increments||The minimum trading increment for an FX options contract is $0.01.|
Saturday following the third Friday of the expiration month.
Up to four near-term months followed by up to four additional months from the March quarterly cycle (March, June, September and December). Up to ten long-term months, none further out than thirty-six.
European style. Options may be exercised only on the last trading day (usually a Friday). Writers are subject to assignment only at expiration.
|Last Trading Day||
Trading will ordinarily cease at 12:00 PM Eastern Time on the business day (usually a Friday) preceding the expiration day.
|Settlement Value Symbol||HAZ|
|Settlement Value||Determined on the last trading day (usually a Friday) based on the WM/Reuters Spot Rate corresponding to 12:00 PM New York time. Settlement values are available on Yahoo Finance.|
|Position and Exercise Limits||
The position and exercise limits are 600,000 contracts on the same side of the market. Position and Exercise limits are subject to change.
9:30 A.M. - 4:15 P.M. Eastern Time (New York time).