Canadian Derivatives Exchange*

Sector Index Options (SXJ, SXV)

Underlyings

  1. S&P/TSX Composite Index Banks (Industry Group) (SXJ)
  2. S&P/TSX Capped Utilities Index (SXV)

Multipliers

  1. SXJ: C$10 per S&P/TSX Composite Index Banks (Industry Group) point
  2. SXV: C$100 per S&P/TSX Capped Utilities Index point

Expiry cycle

At a minimum, the nearest three expiries plus the next two expiries in the designated quarterly cycle: March, June, September, December. Annual expiry of December for long term options.

Minimum fluctuation of the option premium

For premiums of less than 0.10 index points:

  1. SXJ: 0.01 index point = C$0.10 per contract
  2. SXV: 0.01 index point = C$1.00 per contract

For premiums of 0.10 index points or more:

  1. SXJ: 0.05 index points = C$0.50 per contract
  2. SXV: 0.05 index points = C$5.00 per contract

Strike prices

  1. SXJ: Set at a minimum interval of 10 index points
  2. SXV: Set at a minimum interval of 5 index points

Contract type

European style.

Last trading day

The business day prior to expiration.

Expiration day

The third Friday of the contract month, provided it is a business day. If it is not a business day, expiration will occur on the first preceding business day.

Final settlement price

Cash-settled. The final settlement price is the official opening level of the underlying index at expiration.

Position reporting threshold

1,000 contracts gross long and short in all contract months combined.

Position limit

Information on position limits can be obtained from the Bourse as they are subject to periodic changes. See Circulars.

Price limit

A trading halt will be invoked in conjunction with the triggering of "circuit breakers" on the underlying index.

Trading hours

9:31 a.m. to 4:15 p.m.

Clearing corporation

Canadian Derivatives Clearing Corporation (CDCC).

Trading procedures

SXJTM and SXVTM are trademarks of Bourse de Montréal Inc.

The information contained in this document is for information purposes only and shall not be construed as legally binding. This document is a summary of the product's specifications which are set forth in the Rules of Bourse de Montréal Inc. (“Rules of the Bourse”). While Bourse de Montréal Inc. endeavors to keep this document up to date, it does not guarantee that it is complete or accurate. In the event of discrepancies between the information contained in this document and the Rules of the Bourse, the latter shall prevail. The Rules of the Bourse must be consulted in all cases concerning products' specifications.