Options on AUD/JPY Futures (AYCO)

Contract sizes

1 FX futures contract.

The currency stated first in each currency pair is the base currency of such pair; the currency stated second is the quote currency. An FX option is traded in its respective quote currency.

Settlement

The exercise of an option on FX futures results in the creation of a corresponding position in the FX futures for the option buyer as well as the seller to whom the exercise is assigned. The position is established after the Post-Trading Full Period of the exercise day, and is based on the agreed exercise price.

Price quotation and minimum price change

The price quotation is determined as a decimal number with five decimal places. The minimum price change is 0.00001, equivalent to a value of one unit of the quote currency. of the relevant FX futures contract.

For FX options with Japanese Yen as quotation currency the price quotation is determined as a decimal number with three decimal places. The minimum price change is 0.001, equivalent to a value of 100 units of the quote currency of the relevant futures contract.

Contract months

Up to 12 months: The twelve nearest successive calendar months. 

Last trading day and final settlement day

Last trading day and final settlement day is the second Friday of each expiration month. Close of trading in the expiring FX option series on the last trading day is at 15:00 CET.

Daily settlement price

The underlying reference price for FX options contracts is the daily settlement price of the corresponding FX futures series.

Further details are available in the clearing conditions.

Final settlement price

The final settlement price of the corresponding expiring FX futures contract shall be relevant for the FX options contract.

Exercise

European-style; an option can only be exercised on the final settlement day of the respective option series until the end of the Post-Trading Full-Period (16:00 CET).

Exercise prices

Option series of FX options contracts with a term of up to 6 months have exercise prices with price gradations of 0.00250 units of the quote currency or 0.00500 units of the quote currency for terms of more than 6 months.

Options series of FX Options with Japanese Yen as quote currency and a term of up to 6 months have exercise prices with price gradations of 0.250 units of the quote currency or 0.500 units of the quote currency for terms of more than 6 months.

Number of exercise prices

Upon the admission of options, at least 21 exercise prices shall be made available for each due date for each call and put, such that ten are in-the-money, one is at-the-money and ten are out-of-the-money.

This file provides an overview of mistrade ranges for Options and Futures including information on their behavior close to expiration and in stressed markets.