Move to FTSEuroﬁrst futures and
options for the cost-efﬁciency you’ve
been calling for.
Indices are major catalysts for FTSEurofirst futures and options Futures and options contracts
triggering the creation of new are flexible and cost efficient will be listed on Euronext.liffe in
investment products. tools allowing investors to index, London and transacted on the
FTSEurofirst Indices are built hedge, increase their yield and LIFFE CONNECT® trading
with this in mind and so appeal to restructure their equity portfolios. platform. LIFFE CONNECT® is
a wide range of investors looking For all investors, large and small, the world’s most widely
for extended investment this means: accessible electronic trading
opportunities in Europe. By • protecting a portfolio against platform, making the derivatives
trading futures and options on adverse changes in the stock market it supports available to
these indices investors will market customers at over 600 locations
realise the full benefits of the new in 26 countries worldwide. All
FTSEurofirst Index Series. • establishing a price level today contracts will be cleared by the
for a portfolio of stocks an London Clearing House.
investor plans to purchase or
Like any Euronext.liffe derivatives
sell in the future
contract, FTSEurofirst futures
• making profit by taking a and options contract terms are
Make the move today - position on the performance of standardised.
contact us on: the FTSEurofirst Index Series
A dedicated liquidity supporting
• diversifying a portfolio scheme will be in place from the
Tel: +44 (0)20 7379 2200
• directional trades outset, under which appointed
market makers will continuously
Web: www.FTSEurofirst.com • cash management strategies
maintain bid and offer quotes of a
• synthetic asset allocation and minimum size, allowing any kind
index replication. of transaction to take place.
Real-time vendor codes for FTSEuroﬁrst Derivatives
Futures Futures Options Options
FTSEurofirst 80 FTSEurofirst 100 FTSEurofirst 80 FTSEurofirst 100
OutLine EFE:<F3> EFP:<F3> 0#EFE*.L+<rtn> 0#EFP*.L+<rtn>
InDepth 0#EFE:<rtn> 0#EFP:<rtn> 0#EFE*.L+<rtn> 0#EFP*.L+<rtn>
OutLine FIA<index>CT<go> EPA<index>CT<go> FTEF80<index>CT<go> FTEFC1<index>CT<go>
InDepth FIA<index>BBO<go> EPA<index>BBO<go> FTEF80<index>BBO<go> FTEFC1<index>BBO<go>
Moneyline Telerate GB;EF80 GB;EFC1 GB;EF80 GB;EFC1
Bridge Station QV
OutLine/InDepth GB@EFE.1 GB@EFP.1 GB@EFE.1 GB@EFP.1
CMS Webview Codes
OutLine/InDepth LLR LLS LLR LLS
Global TOPIC Codes
OutLine EFE/F.LI* EFP/F.LI* EFE/O.LI* EFP/O.LI*
InDepth Select L2 on Select L2 on Select L2 on Select L2 on
screen window screen window screen window screen window
OutLine/InDepth EFE' EFP' EFE' EFP'
OutLine/InDepth EFE EFP EFE EFP
Summary Contract Speciﬁcation
FTSEuroﬁrst 80 Index and FTSEuroﬁrst 100 Index Futures and Options
Unit of Trading Valued at €10 per Index point Valued at €10 per Index point
(e.g. value €28,000 at 2800) (e.g. value €28,000 at 2800.0)
Contract Months March, June, September, Nearest eight of March, June, September,
December (nearest three December plus such additional months that
available for trading) the nearest three calendar months are
always available for trading
Exercise Day N/A Exercise by 18.00 (London time) on the
Last Trading Day only
Last Trading Day 10.00 (London time) 10.00 (London time)
Third Friday in delivery month1 Third Friday in expiry month
Delivery Day Delivery day is the first business Settlement day is the first business day
day following the Last Trading Day following the Last Trading Day
Quotation Index points (e.g. 2800) Index points (e.g. 2800.0)
Minimum Price 1.0 (€10) 0.1 (€1)
(Tick size & value)
LIFFE CONNECT® 08:00 – 19:00 (London time) 08:00 – 16:30 (London time)
Contract standard: Cash settlement based on the Exchange Delivery Settlement Price.
Exchange Delivery Settlement Price: The EDSP is based on the average values of the Index2 every fifteen
seconds between (and including) 9:50 and 10:00 (London time) on the Last Trading Day. Where necessary the
calculation will be rounded to the nearest 0.1 Index points.
Option Premium: is payable in full by the buyer on the business day following a transaction.
Exercise price and exercise price intervals: The interval between the exercise prices is determined by the
time to maturity of a particular expiry month and is either 50 or 100 Index points. The Exchange reserves the
right to introduce tighter strike intervals (e.g. 25 points) where necessary.
Introduction of new exercise prices: Additional exercise prices will be introduced after the underlying index
level has exceeded the second highest, or fallen below the second lowest, available exercise price.
In the event of the third Friday not being a business day, the Last Trading Day shall normally be the last business day preceding the third
Friday. A “business day” means a market day on which a sufficient number of relevant stock exchanges are open for business such that
there are available current index input prices for constituent stocks of the index, which exchange officials have determined, taken
together represent in aggregate not less than 75% of the market capitalisation of the index.
In this instance, “the Index” refers to the cash value of either the FTSEurofirst 80 Index or the FTSEurofirst 100 Index, as applicable, so as
to reflect the underlying index value of the futures contract.
“FTSE” is a trade mark of the London Stock Exchange Plc and the Financial Times Limited and is used by FTSE International Limited (“FTSE”) under licence. “EuroFirst” is a jointly owned trade mark of both
FTSE and Euronext N.V. The FTSE EuroFirst 80 and FTSE EuroFirst 100 indices are the proprietary interest of FTSE and Euronext N.V. All copyright in the index values and constituent lists rests in FTSE
and Euronext N.V.. FTSE in no way sponsors, endorses or is otherwise involved in the issue and offering of the futures and options contracts based on the FTSEuroﬁrst 80 and FTSEuroﬁrst 100 indices and
does not accept any liability in connection with the trading of futures and options contracts based on the FTSEuroﬁrst 80 and FTSEuroﬁrst 100. LIFFE Administration and Management ("LIFFE") is a
Recognised Investment Exchange under English law and a regulated market under the European Union's Investment Services Directive. This notice is for informational purposes only and does not constitute
an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any other transaction. The value of investments may go down as well as up. You may not get back all of your
original investment. LIFFE CONNECT® is a trade mark of LIFFE and is registered in Australia, Hong Kong, Singapore, the United States and the United Kingdom, is a registered Community Trade Mark, and
is the subject of a pending application for registration in Japan. Those wishing to trade futures and options contracts on Exchanges within the Euronext Group, or to offer and sell such contracts to others
should establish the regulatory position in the relevant jurisdiction before doing so.