DAX Futures FDAX Contract Specifications

Gast · Gast Anmeldungsdatum: 13.10.2005 Beiträge: 1

Version 01 Feb 2005

Contract Standard
DAX®, the blue chip index of Deutsche Börse AG.

Contract Value
EUR 25 per DAX® index point.

Settlement
Cash settlement, payable on the first exchange trading day following the Last Trading Day.

Price Quotation
In points, with one decimal place.

Minimum Price Change
0.5 of a point, equivalent to a value of EUR 12.50.

Contract Months
The three quarterly months of the March, June, September and December cycle.

Last Trading Day
Last Trading Day of index futures contracts is the Final Settlement Day. Final Settlement Day is the third Friday of each contract month; otherwise the exchange trading day immediately preceding that Friday. Trading in the maturing futures contract ceases with the start of the intraday auction in the electronic trading system Xetra® at 13:00 CET.

Daily Settlement Price
The closing price determined within the closing auction; if no price can be determined in the closing auction or if the price so determined does not reasonably reflect the prevailing market conditions, the daily settlement price will be the last traded price within the last 15 minutes of continuous trading. If the last traded price is older than 15 minutes or does not reasonably reflect the prevailing market conditions, Eurex will establish the official settlement price.

Final Settlement Price
Value of the DAX®, determined on the basis of the prices of the DAX® component shares on the Last Trading Day, as determined in the intraday auction starting at 13:00 CET in the electronic trading system Xetra®.

Trading Hours
Eurex operates in three trading phases. The pre-trading period is the initiating phase, where users may make inquiries or enter, change or delete orders and quotes in preparation for trading. Orders and quotes are matched during the main trading phase, with transactions being immediately confirmed online. Trading ends with the post-trading period, where all inquiry functions are available and market, limit or stop trades for the next day may be entered. All clearing functions are available during each trading phase except the position transfer function, which is only available during the pre- and post-trading phase.

Pre-Trading: 07:30 - 08:50
Trading (PO+Trad): 08:50 - 20:00
Post-Trading*: 20:00 - 20:30
OTC Block Trading: 09:00 - 20:00
Last trading day Trading until 13:00

All times indicated in CET

* Deadlines for exercising of options

Source: Eurex