||Sum of a company ordinary dividends during a specific period of time described in the Expirations paragraph.
||Dividends corresponding to 25.000 shares (except after adjustments pursuant to section 6.6 of these General Conditions).
||At least three annual expirations. An annual expiration period means a computation period from last year third Friday of December, excluded, until the third Friday of December of the expiration year, included. Non-annual cycles expiries can also be opened. The actual expirations will be determined by Circular.
||The third Friday of the expiration month.
|SETTLEMENT AT EXPIRATION
||Cash settlement of the difference with respect to the Settlement Price at Expiration.
|CONTRACT SETTLEMENT DATE
||First Business Day following the Expiration Date.
|LAST TRADING DAY
||The Expiration Date.
|FUTURES PRICE QUOTATION
||In EURO per share with a minimum fluctuation set according to the quotation of the underlying asset and/or the Market practice. It will be established by Circular. The minimum fluctuation may be different in pre-arranged trades between Members.
|MAXIMUM PRICE FLUCTUATION
||None, although it may be established by Circular.
|DAILY SETTLEMENT OF VARIATION MARGIN
||Daily cash settlement by the difference between the sessions's Daily Settlement Price and that of the previous session (see section 7).
||First Business Day following the date of the Transaction.
||Established by Circular.
|DAILY SETTLEMENT PRICES
||They will be the best estimate of the "fair market price". The criteria will be established by Circular. On the expiration date, it will be the Settlement Price at Expiration.
For more information please visit the Financial Derivatives General Conditions for trading at MEFF and for Clearing and Settlement at BME Clearing.