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Futures contracts on mWIG40 index

Futures contracts on mWIG40 index - basic characteristics

Abbreviated contract name FW40krr
where:
F - type of instrument
W40 - abbreviated name of underlying instrument
k - delivery month code (set by the Exchange)
rr - two last digits of delivery year
Contract code Granted by the clearing entity following the ISIN standard
Underlying instrument mWIG40 index
Multiplier PLN 10
Contract value Multiplier x contract price
Trading unit Index points
Delivery months Three nearest of March,June,September and December
Last trading day The third Friday of the delivery month. If this date is not a trading day,then the last trading day before the third Friday of the delivery month. In exceptional cases,the Exchange Management Board may set the last trading day to fall on a different date,but must disclose such information to the public at least 4 weeks in advance.
Expiry date The date on which the final settlement price is determined.
The same date as the last trading day.
First trading day of a new series The first trading day following expiry of the previous contract. Set out by the Exchange for the first series in a class.
Daily settlement price Daily settlement price is determined after each session starting from the date on which the first transaction of a contract series was made, exclusive of the expiry date.
Daily settlement price shall be the closing price of contracts of a series.
If no closing price is determined during a session, the last settlement price will be deemed the daily settlement price.
However, if the order book at closing contains at least one order with a limit price better (i.e. higher for buy and lower for sell orders) than the settlement price arrived at as per the above and such order is entered at least 5 minutes before the close of trading, the limit price of the best of such orders will be deemed the settlement price. For buy orders, this is the best limit price of a buy order above the price arrived at as per the above.
In contrast, for sell orders it is the lowest limit price of a sell order below the price arrived at as per the above. If the limit in the aforementioned order is higher than the upper price variation limit or lower than the bottom price variation limit as applicable at closing, then the upper or, as appropriate, bottom price variation limit as applicable at closing will be deemed the daily settlement price.
In the exceptional cases, the Exchange may, in consultation with the NDS, set a settlement price other than that set as per the above.
Final settlement price Final settlement price is determined on the expiry date as the arithmetic mean of all mWIG40 index values from the last hour of continuous trading and its value at the session close, having rejected 5 top and 5 bottom index values.
Daily settlement value The product of the daily settlement price and the multiplier.
Final settlement value The product of the final settlement price and the multiplier.
Settlement date The first business day following the contract expiry date
(the last trading day).
Publication of the daily and final settlement values Immediately following the close of trading.
Settlement method In cash in Polish zloties.
Investor's margin The minimum amount is determined by the NDS.The, entity operating the investor's account may set a higher investor margin requirement.

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