PHLX World Currency Options
®
U.S. Dollar-Settled
PRODUCT SPECIFICATIONS*
Australian Dollar
British Pound
Canadian Dollar
Euro
Japanese Yen
Swiss Franc
Description:
PHLX U.S. dollar-settled
Australian dollar currency
options are quoted in terms
of U.S. dollars per unit of
the underlying currency
(Australian dollar) and
premium is paid and
received in U.S. dollars.
PHLX U.S. dollar-settled
British pound currency
options are quoted in
terms of U.S. dollars per
unit of the underlying
currency (British pound)
and premium is paid and
received in U.S. dollars.
PHLX U.S. dollar-settled
Canadian dollar currency
options are quoted in
terms of U.S. dollars per
unit of the underlying
currency (Canadian dollar)
and premium is paid and
received in U.S. dollars.
PHLX U.S. dollar-settled
Euro currency options
are quoted in terms of
U.S. dollars per unit of
the underlying currency
(Euro) and premium is
paid and received in
U.S. dollars.
PHLX U.S. dollar-settled
Japanese yen currency
options are quoted in
terms of U.S. dollars per
unit of the underlying
currency (Japanese yen)
and premium is paid and
received in U.S. dollars.
PHLX U.S. dollar-settled
Swiss franc currency
options are quoted in
terms of U.S. dollars per
unit of the underlying
currency (Swiss franc)
and premium is paid and
received in U.S. dollars.
Contract Size:
10,000
Australian dollars
10,000
British pounds
10,000
Canadian dollars
10,000
Euros
1,000,000
Japanese yen
10,000
Swiss francs
Trading Symbol:
XDA
XDB
XDC
XDE
XDN
XDS
Alternate Symbol:
AJL
BJF
CFZ
EAE, EDB
JRD
SDF
Half Point Strike Symbol:
ADN
BJR
CEJ
EPA
JRB
SIQ
Half Point Strike Alternate Symbol:
AHF
BVA
CRJ
EAY
JRE
SIY
Settlement Value Symbol:
ADW
BWU
CDW
EDY
JYW
SFW
CUSIP Number:
69391M 11 1
69336X
69391P 11 4
69336Y
69337W 11 6
69337E 11 6
Contract Point Value:
$100
(i.e., .01 x 10,000)
$100
(i.e., .01 x 10,000)
$100
(i.e., .01 x 10,000)
$100
(i.e., .01 x 10,000)
$100 (i.e.,
(.00)01 x 1,000,000)
$100
(i.e., .01 x 10,000)
®
F luctuations in the underlying my cause
a “wrap around” situation whereby alternate
symbols may be used.
Exercise Style: European – may be exercised only during a specified
period before the option expires. However, buying and selling of the
options can be accomplished prior to expiration any time/day the options
are open for trading.
Last Trading Day for Expiring Contracts: The third Friday
of the expiration month.
Expiration Date: Saturday following the third Friday of the
expiration month.
Exercise (Strike) Price Intervals: The Exchange shall determine
fixed-point intervals of exercise prices. Generally, the exercise (strike)
price interval shall be set at half-cent intervals. Consult PHLX Rule
1012 for further information.
Expiration Cycle: Quarterly on the March cycle plus two additional
near-term months (six months at all times).
Premium Quotation: One point = $100.00. Thus, a premium quote
of 2.13 is $213.00. The minimum change in a premium is .01 = $1.00.
Settlement: U.S. dollars
Position Limits: 200,000 contracts on the same side of the market.
Hedge exemptions are available. For more information consult PHLX
Rules 1001 and 1002.
Settlement Value for Expiring Contracts: Based on the 12:00
Noon (Eastern Time) Buying Rate, as determined by the Federal Reserve
Bank of New York on the last trading day prior to expiration (usually
a Friday). If the Noon Buying Rate is not announced by 5:00 p.m.
(Eastern Time), the closing settlement value will be the most recently
announced Noon Buying Rate, unless the Exchange determines to apply
an alternative closing settlement value as a result of extraordinary
circumstances. For further information consult PHLX Rule 1057.
Trading Hours: 9:30 a.m. to 4:00 p.m., Eastern Time
(Philadelphia Time)
Issuer and Guarantor: The Options Clearing Corporation (OCC)
*Product specifications are subject to change.
Options involve risk and are not suitable for all investors.
Prior to recommending or trading the PHLX World Currency Option Product, be sure to contact your firm’s
compliance department regarding registration, qualification and approval requirements at your firm.
WCO - 05 1/08