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SGX Option on MB Iron Ore CFR China (65% Fe Fines) Futures
CONTRACT SPECIFICATIONS
| SGX Option on MB Iron Ore CFR China (65% Fe Fines) Index Futures | SGX Option on MB Iron Ore CFR China (65% Fe Fines) Swap | |
|---|---|---|
| Product Type | Options | Options |
| Product Category | Iron Ore & Steel | Iron Ore & Steel |
| Ticker Symbol | Calls – CM65F; Puts – PM65F | Calls – CM65; Puts – PM65 |
| Contract Size | 100 metric tonnes (equivalent to 1 lot of the underlying Futures) | 500 metric tonnes (equivalent to 1 lot of the underlying Swap) |
| Minimum Price Fluctuation | US$0.01 per metric tonne | US$0.01 per metric tonne |
| Contract Months | Up to 2 calendar years starting with current year, with 12 consecutive months added upon expiry in December. | Up to 2 calendar years starting with current year, with 12 consecutive months added upon expiry in December. |
| Quotation | US$ per tonne | US$ per tonne |
| Tick Value | USD 1 | USD 5 |
| Trading Hours (Singapore Time) | Every weekdays except 1 Jan and 25 Dec NLT: T session: 7.10 am – 8.00 pm T+1 session: 8.00.01 pm – 5.15 am Note: After the close of the T-session, there will be a 30 min grace window for participants to continue registering T-session trades. Screen: T session: 7.25 am – 8.00 pm T+1 session: 8.15 pm – 5.15 am |
Every weekdays except 1 Jan and 25 Dec NLT: T session: 7.10 am – 8.00 pm T+1 session: 8.00.01 pm – 5.15 am Note: After the close of the T-session, there will be a 30 min grace window for participants to continue registering T-session trades. |
| Trading Hours on Last Day | NLT: 7.10 am – 8.00 pm Note: After the close of the T-session, there will be a 30 min grace window for participants to continue registering T-session trades. Screen: 7.25 am – 8.00 pm |
NLT: 7.10 am – 8.00 pm Note: After the close of the T-session, there will be a 30 min grace window for participants to continue registering T-session trades. |
| Last Trading Day | Last Trading Day of the contract month of the underlying SGX MB Iron Ore CFR China (65% Fe Fines) Index Futures. | Last Trading Day of the contract month of the underlying SGX MB Iron Ore CFR China (65% Fe Fines) Swap. |
| Daily Price Limits | N.A. | N.A. |
| Settlement Basis | In-the-money options will be automatically exercised on expiry into relevant underlying futures positions, which will then be cash-settled based on the final settlement price methodology of the relevant futures contract. | In-the-money options will be automatically exercised on expiry into relevant underlying swaps positions, which will then be cash-settled based on the final settlement price methodology of the relevant swaps contract. |
| Exchange Delivery Settlement Price / Final Settlement Price | Upon exercise, a call option will have a value equal to final settlement price of the underlying SGX MB Iron Ore CFR China (65% Fe Fines) Index Futures minus the strike price, multiplied by the contract size. Upon exercise, a put option will have a value equal to the strike price minus the final settlement price of the underlying SGX MB Iron Ore CFR China (65% Fe Fines) Index Futures, multiplied by the contract size. |
Upon exercise, a call option will have a value equal to final settlement price of the underlying SGX MB Iron Ore CFR China (65% Fe Fines) Swap minus the strike price, multiplied by the contract size. Upon exercise, a put option will have a value equal to the strike price minus the final settlement price of the underlying SGX MB Iron Ore CFR China (65% Fe Fines) Swap, multiplied by the contract size. |
| Position Accountability / Position Limit | Unless otherwise prescribed by the Exchange, there shall be no Position Limits. However, subject to Rule 4.1.18 of the Trading Rules, a person owning or controlling any combination of Futures Contracts, Option-on-Futures Contracts, Swap Contracts, Option-on-Swap Contracts and Relevant Contracts that exceed such position as the Exchange may prescribe from time to time with prior notification, net on the same side of the market, and in all Contract Months combined, shall provide, in a timely fashion, upon request by the Exchange, information regarding the nature of the position, trading strategy, and hedging information if applicable. Position Accountability Threshold: Equivalent of 3,000 Swap Contract lots |
Unless otherwise prescribed by the Exchange, there shall be no Position Limits. However, subject to Rule 4.1.18 of the Trading Rules, a person owning or controlling any combination of Futures Contracts, Option-on-Futures Contracts, Swap Contracts, Option-on-Swap Contracts and Relevant Contracts that exceed such position as the Exchange may prescribe from time to time with prior notification, net on the same side of the market, and in all Contract Months combined, shall provide, in a timely fashion, upon request by the Exchange, information regarding the nature of the position, trading strategy, and hedging information if applicable. Position Accountability Threshold: Equivalent of 3,000 Swap Contract lots |
| Negotiated Large Trade | 5 lots | |
| Option Exercise | European Style: An option will be exercised automatically at expiry only if it is in-the-money. |
European Style: An option will be exercised automatically at expiry only if it is in-the-money. |
