Sector Index Futures (SXA, SXB, SXD, SXG, SXH, SXK, SXR, SXS, SXT, SXU, SXW, SXY)

Underlyings

  1. S&P/TSX Global Gold Index (SXA)
  2. S&P/TSX Capped Financials Index (SXB)
  3. S&P/TSX Capped Information Technology Index (SXH)
  4. S&P/TSX Composite Index Banks (Industry Group) (SXK)
  5. S&P/TSX Capped Utilities Index (SXU)
  6. S&P/TSX Capped Energy Index (SXY)
  7. S&P/TSX Composite Energy GICS Sector Total Return Index (SXD)
  8. S&P/TSX Composite Financials GICS Level Sector Total Return Index (SXG)
  9. S&P/TSX Composite Real Estate GICS Sector Total Return Index (SXR)
  10. S&P/TSX Composite Telecom Services GICS Level Sector Total Return Index (SXT)
  11. S&P/TSX Composite Media GICS Industry Group Total Return Index (SXS)
  12. S&P/TSX Composite Insurance GICS Industry Group Total Return Index (SXW)

Multipliers

  1. SXA: C$200 times the S&P/TSX Global Gold Index futures value
  2. SXB: C$200 times the S&P/TSX Capped Financials Index futures value
  3. SXH: C$500 times the S&P/TSX Capped Information Technology Index futures value
  4. SXK: C$20 times the S&P/TSX Composite Index Banks (Industry Group) futures value
  5. SXU: C$200 times the S&P/TSX Capped Utilities Index futures value
  6. SXY: C$200 times the S&P/TSX Capped Energy Index futures value
  7. SXD: C$50 times the S&P/TSX Composite Energy GICS Sector Total Return Index futures value
  8. SXG: C$50 times the S&P/TSX Composite Financials GICS Level Sector Total Return Index futures value
  9. SXR: C$20 times the S&P/TSX Composite Real Estate GICS Sector Total Return Index futures value
  10. SXT: C$50 times the S&P/TSX Composite Telecom Services GICS Level Sector Total Return Index futures value
  11. SXS: C$50 times the S&P/TSX Composite Media GICS Industry Group Total Return Index futures value
  12. SXW: C$50 times the S&P/TSX Composite Insurance GICS Industry Group Total Return Index futures value

Expiry cycle

March, June, September and December.

Price quotation

Quoted in index points, expressed to two decimals.

Minimum price fluctuations

  • Outright positions:
    • 0.10 index point for: SXA, SXB, SXK, SXU, SXY, SXD, SXG, SXR, SXT, SXS, SXW
    • 0.05 index point for SXH
       
  • Calendar spreads:
    • 0.01 index point for all symbols
       
  • Basis Trade on Close:
    • 0.01 index point for outright Basis Trades on Close for SXA, SXB, SXH, SXU and SXY
    • 0.10 index point for outright Basis Trades on Close for SXK
    • 0.05 Index point for outright Basis Trades on Close for SXD, SXG, SXR, SXT, SXS, SXW

Contract type

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

Last trading day

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

Final settlement day

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

Position reporting threshold

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

Position limit

  • All-months position limit: information can be obtained from the Regulatory Division as they are subject to periodic changes. See the position limits page on the Regulatory Division website.
  • Spot month position limit: not applicable.

Trading halt

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

Minimum margin requirements

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

Trading hours

Early session*
8:00 p.m. (t-1) to 9:15 a.m.
Regular session
9:30 a.m. to 4:30 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

Please refer to the Rules of the Bourse.

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.

SXATM, SXBTM, SXHTM, SXKTM, SXUTM, SXYTM, SXDTM, SXGTM, SXRTM, SXTTM, SXSTM and SXWTM are trademarks of Bourse de Montréal Inc.

Useful Document

Index Derivatives Reference Manual

Useful Links

Month-End Fair Value

Articles & Newsletters

TMX Group Limited and its affiliates do not endorse or recommend any securities issued by any companies identified on, or linked through, this site. Please seek professional advice to evaluate specific securities or other content on this site. All content (including any links to third party sites) is provided for informational purposes only (and not for trading purposes), and is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon for such advice. The views, opinions and advice of any third party reflect those of the individual authors and are not endorsed by TMX Group Limited or its affiliates. TMX Group Limited and its affiliates have not prepared, reviewed or updated the content of third parties on this site or the content of any third party sites, and assume no responsibility for such information.

Copyright © 2024 Bourse de Montréal Inc. All rights reserved.
Canadian Derivatives Exchange is an official mark of Bourse de Montréal Inc.