Automatic exercise for in-the-money index options as at 19.15 hours on the second Wednesday of relevant maturity month, subject to the trading regulations
Last Trading day/time
16.35 hours on the prompt date
Settlement basis
Cash settlement based on the difference between settlement price of the Index and the strike price, multiplied by the contract size
Cash settlement
The settlement business day following the prompt date
Maturity month
Monthly for the front three months
Option premium date
Paid on the first business day following trade
Minimum movement
0.01 Index points
Minimum strike price movement 10 Index points
Minimum strike price movement and tick size for premiums available in all clearable currencies
This is a summary of the contract specifications. For full contract specification details, please refer to the LME Rulebook which details the complete rules and regulations of LME contracts.
LME contracts may only be offered or sold to United States foreign futures and options customers by firms registered with the Commodity Futures Trading Commission (CFTC), or firms who are permitted to solicit and accept money from foreign futures and options customers from trading on the LME pursuant to CFTC Rule 30.10.
Arbitration
In the case of unresolved disputes, arbitration is effected via the LME arbitration procedure, and/ or by other body agreed by the parties.
LME Mini & LMEX Contract Specifications Effective from August 2009 DOWNLOAD( KB )
