S&P/TSX 60 Index Standard Options (SXO)
Underlying index
The S&P/TSX 60 Index, which is designed to represent leading companies in leading industries.
Market Capitalization: Larger companies, as measured by the float adjusted market capitalization, are considered for the S&P/TSX 60 Index. A company's float adjusted market capitalization is calculated by removing control blocks of 10% or more.
Multiplier
C$100 per S&P/TSX 60 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
- 0.01 index point = C$1.00 per contract, for premiums of less than 0.10 index point
- 0.05 index point = C$5.00 per contract, for premiums of 0.10 index point or more
Strike prices
At a minimum, five strike prices bracketing the current underlying index's market price.
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
1,500 contracts in the case of standard options on the S&P/TSX 60 Index and mini options on the S&P/TSX 60 Index, by aggregating positions on both options contracts. For the purposes of aggregating positions, one standard options contract on the S&P/TSX 60 Index is equal to 10 mini options contracts on the S&P/TSX 60 Index.
Position limit
50,000 contracts on the same side of the market, in all contract months combined.
Trading halt
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 4:00 p.m.
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.
SXOTM is a trademark of Bourse de Montréal Inc.
