Canadian Derivatives Exchange*

Sector Index Futures (SXA, SXB, SXH, SXY)

Underlying

S&P/TSX indices on select sectors of the Canadian economy, namely:

  • S&P/TSX Global Gold index (SXA)
  • S&P/TSX Capped Financials index (SXB)
  • S&P/TSX Capped Information Technology index (SXH)
  • S&P/TSX Capped Energy index (SXY)

Multiplier

  • SXA: C$200 × SXA futures value
  • SXB: C$200 × SXB futures value
  • SXH: C$500 × SXH futures value
  • SXY: C$200 × SXY futures value

Contract months

Four months in the March, June, September, December quarterly cycle.

Price quotation

Quoted in index points, expressed to two decimals.

Last trading day

Trading ceases on the trading day prior to the final settlement day.

Final settlement day

The 3rd Friday of the contract month, providing it be a business day; if not, the 1st preceding day.

Contract type

Cash settlement. The final settlement price is the official opening level of the underlying sectorial index on the final settlement day.

Minimum price fluctuation

  • 0.10 index point for the S&P/TSX Global Gold index
  • 0.10 index point for the S&P/TSX Capped Financials index
  • 0.05 index point for the S&P/TSX Capped Information Technology index
  • 0.10 index point for the S&P/TSX Capped Energy index

Reporting limit

500 contracts gross long and short in all contract months combined.

Position limits

Information on position limits can be obtained from the Exchange 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" in the underlying stocks.

Minimum margin requirements

Information on minimum margin requirements can be obtained from the Exchange as they are subject to periodic changes. See the Futures contracts margin rates page on the Regulatory Division website.

Trading hours (Montréal time)

Early session*
6:00 a.m. to 9:15 a.m.
Regular session
9:30 a.m. to 4:15 p.m.

* A trading range of -5% to +5% (based on previous day's settlement price) has been established only for this session.

Clearing corporation

Canadian Derivatives Clearing Corporation (CDCC)

Trading procedures

SXATM, SXBTM, SXHTM and SXYTM are trademarks of Bourse de Montréal Inc.