S&P/MX International Cannabis Index Futures (SMJ)

Ticker Symbol

SMJ
Basis Trade on Close: BMJ

Underlying

S&P/MX International Cannabis Index

Multiplier

C$50 times the S&P/MX International Cannabis Index Futures contract value.

Expiry cycle

March, June, September and December.

Price quotation

Quoted in index points, expressed to two decimals.

Minimum price fluctuation

  • 0.10 index points for outright positions
  • 0.01 index points for calendar spreads
  • 0.05 index points for outright Basis Trades on Close

Contract type

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

Last trading day

Trading ceases on the trading 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 contract months combined.

Position limit

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

Trading halt

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

Minimum margin requirements

Information on minimum margin limits 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*
2:00 a.m. to 9:15 a.m. ET
Regular session
9:30 a.m. to 4:30 p.m. ET
Basis Trades on Close: Regular session
9:30 a.m. to 3:30 p.m. ET

* 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.

The S&P/MX International Cannabis Index (the "Index") is a product of S&P Dow Jones Indices LLC ("SPDJI") and Bourse de Montréal Inc. ("MX"). Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and MX® is a registered trademark of Bourse de Montréal Inc., used under license. SPDJI, Dow Jones, S&P and TSX do not sponsor, endorse, sell or promote any products based on the Index and none of SPDJI, Dow Jones, S&P, MX and affiliates of MX make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions or interruptions of the Index or any data related thereto.