|UNDERLYING ASSET||IBEX Bank 35 Index / IBEX Energy 35 Index|
|INDEX DESCRIPTION||The IBEX Indices 35 Banks, Energy, are composed of those securities listed in the general trading segment of the stock exchange interconnection system, which, being components of the IBEX 35 Index, belong to the corresponding sub-sectors according to the sectorial stock market classification of the four Spanish Stock Exchanges.|
The price of the IBEX 35 Sectorial Future times the multiplier.
|FUTURES PRICE QUOTATION||
In whole Index points with a minimum fluctuation set according to the quotation of the underlying asset and/or the Market practice, which will be established by Circular. The minimum fluctuation might be different in pre-arranged trades between Members.
|MAXIMUM PRICE FLUCTUATION||
None, although it may be established by Circular.
Expirations available for trading, clearing and settlement will be the following:
|EXPIRATION DATE||The third Friday of the expiration month.|
|LAST TRADING DAY||The Expiration Date.|
|DAILY SETTLEMENT PRICES||Daily Settlement Price for the front expiration is obtained by the volume weighted average of trades executed in the order book between 17:29 and 17:30 CET with one decimal.|
|SETTLEMENT PRICE AT EXPIRATION||Daily Settlement Price for the front expiration is obtained by the volume weighted average of trades executed in the order book between 16:15 and 16:45 CET with one decimal.|
|DAILY SETTLEMENT OF VARIATION MARGIN||Before the start of trading on the business day following the date of the trade by means of cash transfer of the difference with the Daily Settlement Price.|
|COMMISSION SETTLEMENT||First business day following the date of the transaction.|
|SETTLEMENT AT EXPIRATION||Cash settlement of the difference with respect to the Settlement Price at Expiration.|
|MARGINS||Variable in function to the portfolio of Options and Futures (see Circular on Margin Calculation Parameters). Margins shall be supplied before the start of the session of the Business Day following the date of the calculation.|
|AUCTION PERIOD||From 8:30 to 9:00|
|TRADING HOURS||From 9:00 to 17:35|