2. Prices
  3. Derivatives
  4. Contract specifications / trading rules
  5. GBP/PLN and CHF/PLN futures contract specifications
Abbreviated contract name FXYZkrr,
where:
F - type of instrument
XYZ - currency whose rate is the underlying instrument (respectively GBP (British pound) or CHF (Swiss franc))
k - delivery month code (as determined by the Exchange Management Board)
rr- two last digits of delivery year
Contract code Granted by the clearing entity following the ISIN standard
Underlying instrument GBP/PLN exchange rate
CHF/PLN exchange rate
Trading unit (contract size) GBP 1000
CHF 1000
Quotation unit Polish zlotys (PLN) (per GBP 1 or CHF 1).
Delivery months Three subsequent calendar months + three subsequent months of the March quarterly cycle (March, June, September, 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.
Trading in a futures contracts series that expires on that date ends at 10:30 a.m. on that day. In exceptional cases, the Exchange 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 trading day following expiry of the previous contracts series.
Set out by the Exchange Management Board for the first introduction of a contracts series to trading.
Daily settlement price The daily settlement price is determined after each session starting from the date on which the first transaction of a contracts series was made, excluding the expiry date. The closing price for contracts of a series will be deemed the daily settlement price. If the closing price was not determined during the session, the last settlement price will be deemed the daily settlement price. However, if the order book at closing contains at least one order for at least 50 contracts 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, the limit price of the best of such orders will be deemed the settlement price. For buy orders, this is the highest limit price of a buy order above the price arrived at as per the above and for sell orders this is the lowest limit price of a sell order below the price arrived at as per the above. If the limit of such an order exceeds the upper or lower price collar applicable at closing, then the upper or lower price collar applicable at closing, respectively, will be deemed the daily settlement price. In special cases, upon consultation with KDPW_CCP, the Exchange may set a daily settlement price other than arrived at as per the above.
Final settlement price The average British pound or Swiss franc exchange rate determined by the National Bank of Poland at fixing on the contract expiry date, determined with a precision of PLN 0.0001 (per GBP 1 or CHF 1).
Daily settlement value The product of the daily settlement price and the contract size
Final settlement value The product of the final settlement price and the contract size.
Settlement date The first business day following the contracts series expiry date
Publication of the daily and final settlement values Immediately following the close of trading.
Settlement method In cash in Polish zlotys.
Investor's margin The investment firm or custodian bank determines the level of its investor’s margin deposit.