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Symbol
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BRB
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Name
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ISE FX Brazilian real
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FX Description
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The underlying value for ISE FX Options on the exchange rate USD/BRL. The underlying
value represents the exchange rate between the US dollar (base currency) and the
Brazilian real (counter currency) times 100.
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Rate Modifier
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100
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Premium Multiplier
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$100. The multiplier means that the options premiums are multiplied by $100 to obtain
the actual premium amount.
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Strike Price Interval
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Strike price increments are $0.10 minimum, but in most cases $0.50
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Minimum Trading Increments
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The minimum trading increment for an FX options contract is $0.01.
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Expiration Date
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Saturday following the third Friday of the expiration month.
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Expiration Months
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Up to four near-term months followed by up to four additional months from the March
quarterly cycle (March, June, September and December). Up to ten long-term months,
none further out than thirty-six
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Exercise Style
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European style. Options may be exercised only on the last trading day (usually a
Friday). Writers are subject to assignment only at expiration.
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Last Trading Day
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Trading will ordinarily cease at 12:00 PM Eastern Time on the business day (usually
a Friday) preceding the expiration day.
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Settlement Type
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Cash settlement
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Settlement Value Symbol
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ZJC
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Settlement Value
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Determined on the last trading day (usually a Friday) based on the Central Bank
of Brazil’s official average offered exchange rate, known as the “closing PTAX”
for that day. In the event the “closing PTAX” is not available, the Exchange shall
use the WM/Reuters Intraday Spot rate.
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Position and Exercise Limits
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The position and exercise limits are 300,000 contracts on the same side of the market.
Position and Exercise limits are subject to change.
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Trading Hours
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9:30 A.M. - 4:15 P.M. Eastern Time (New York time).
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