Derivatives Market - Index Derivatives Derivatives Market

TA-35 Index
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TA-35 Index Derivatives

TA-35 Index Options

 

 

Monthly

Weekly

Launch Date

August 1993

July 2013

Trading Hours

For details, click here

Underlying Asset

TA-35 Index

Contract  Size

NIS 100 multiplied by the index level

Expiry

Monthly

Weekly

Contract Months

A new series of options is opened each month for a period of 3 months. Hence, at any point of time 3 series of options are traded.

Weekly options open for trading on Thursdays, excluding the Thursday two weeks before the expiration of monthly option. Usually, two weekly series will be traded each day.  

Price Quotation

Stated in NIS

Minimum price change

NIS 1   (for prices up to 20 NIS)

NIS 2   (for prices of 21-100 NIS)

NIS 5 (for prices of 101-200 NIS)

NIS 10 (for prices exceeding 200 NIS)

Strike Prices

If the index exceeds 1000 points, in increments of 20 points (if less than 1000 points, increments of 10). Starting 8 weeks prior to expiry, additional strike prices are opened in increments of 10 points.

10

Last Trading Day

The Wednesday preceding the last Friday of the expiration month

Wednesdays

Final Settlement Price

Calculation based on the opening prices of the index constituents on the final trading day prior to the expiration date (usually Thursday)

Expiration Date

The last Friday of the expiration month

All Fridays except the last Friday of the month

Exercise style

European

Settlement

Cash settlement. “In-the-money” options are automatically exercised.

Position Limit

30,000 contracts

Daily Price  Change Limit

None

 

TA-35 Index Futures

 

 

Monthly

Weekly

Launch Date

October 1995

July 2013

Trading Hours

For details, click here

Underlying Asset

TA-35 index

Contract Size

The index in points multiplied by NIS 100

Expiry

Monthly

Weekly

Contract Months

In March, June, September and December, new series of 15-month futures will open. In the rest of the months, series of contracts will be opened for 3 months. Therefore, at each point in time, 7 monthly series will be traded - 3 series for each of the coming 3 months and 4 series for 6, 9, 12 and 15 months

Weekly futures open for trading on Thursdays, excluding the Thursday two weeks before the expiration of monthly futures. .Usually, two weekly series will be traded each day.

Price Quotation

in NIS

Minimum Price Change

NIS 10

Last  Trading Day

Wednesdays

Wednesdays

Final Settlement Price

Calculation based on the opening prices of the index constituents on the final trading day prior to the expiry date (usually Thursday).

Expiration Date

The last Friday of the month

All Fridays except the last Friday of the month

Settlement

Daily cash settlement, Mark-to-Market

Position Limit

30,000 contracts

 

Daily Price Change Limit

None