2. Prices
  3. Derivatives
  4. Contract specifications / trading rules
  5. USD/PLN futures contract specifications
Abbreviated name of contracts FUSDkrr,
where:
F - type of instrument
USD - code of the currency whose exchange rate is the underlying instrument
k - delivery month code (as per the Exchange Management resolution)
rr - two last digits of delivery year
Contract code Granted by the clearing entity following the ISIN standard
Underlying instrument USD/PLN exchange rate
Transaction unit (contract size) USD 1000
Quotation unit Polish zlotys (PLN) (per USD 1).
Delivery months Three nearest 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 the series of contracts which expire on that day shall end at 10:30. 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 Management Board where a series is first introduced 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 US dollar 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 USD 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 contract expiry date.
Publication of the daily and the final settlement price total 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.