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| UNDERLYING ASSET | One IBEX 35 mini Futures Contract of the same expiration. |
| CONTRACT SIZE | The mini IBEX 35 Future multiplied by 1 Euro. |
| STYLE OF OPTION | European (can only be exercised on the Exercise Date). |
| TYPES OF OPTION | Call and Put |
| EXPIRATIONS | Expirations available for trading, clearing and settlement will be the following: - The ten nearest quarterly expiries of the March-June-September-December cycle. - The two nearest calendar months apart from the first expiry of the quarterly cycle. - The expiries of the June-December cycle, not included in the above criteria, to complete expiries with a maximum life of 5 years . |
| EXPIRATION DATE | The third Friday of the expiration month. |
| EXERCISE DATE | The Expiration Date. |
| CONTRACT SETTLEMENT DATE | First Business Day following the Expiration Date. |
| EXERCISE | Automatic for all Contracts which yield profits to their holders. |
| LAST TRADING DATE | The Expiration Date. |
| EXERCISE PRICES | In whole IBEX 35 mini Futures points. For contracts with a time to expiration of above 2 months, Exercise Prices shall end in 100 exactly; for contracts with a time to expiration of below two months, Exercise Prices shall be exact multiples of 50. |
| PREMIUM QUOTATION | In whole IBEX 35 mini Futures 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 shall be different in pre-arranged trades between Members. |
| MAXIMUM PREMIUM QUOTATION | None. |
| PREMIUM SETTLEMENT | First Business Date following the date of the Transaction. |
| SETTLEMENT OF COMMISSIONS | First Business Day following the date of the Transaction. |
| MARGINS | Variable in function to each portfolio of Options and Futures (see Margin Calculation section). 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 a.m. to 9:00 a.m. |
| TRADING HOURS | From 9:00 a.m. to 5:35 p.m. |
For more information please visit the Financial Derivatives General Conditions for trading at MEFF and for Clearing and Settlement at BME Clearing.