The following is a brief description of options on Danish shares. For a detailed contract specification, please consult chapter four in the Rules and Regulations for OMX Derivatives Markets, which is available here on the website.
American call and put options contracts with delivery.
Contract base:
The type of share, which is apparent from the quotation list. The share shall be registered or listed on the OMX Nordic Exchange Copenhagen any other exchange or market approved by the exchange.
Contract size:
One hundred shares per contract, except for A.P. Møller-Mærsk B where the contract size is one (1) share. Re-calculation may occur in certain cases (see Re-calculation).
Series term:
Contracts with terms of three, six and nine months are listed in accordance with what is stated in the quotation list.
Series designation:
Indicate the designation for the contract base, expiration year, exercise price, expiration month and option type.
Exercise price:
Appears from the series designation. Re-calculation may occur in certain cases (see Re-calculation).
Premium:
Agreed upon by the parties. Shall be expressed in Danish Kroner and indicate the price for one contract share.
Premium settlement day:
The first Danish bank day following registration.
Expiration day:
The third Friday of the expiration months March, June, September and December, or, where such day is not a Danish bank day the preceding bank day.
Last trading day:
The expiration day at the close of the electronic trading system for the series in question.
Exercise:
Delivery of the relevant share occurs in exchange for an amount equivalent to the exercise price on the settlement day. Exercise may be requested up to the expiration day.
Settlement Day:
Delivery and payment for delivery occurs the third Danish bank day after expiration day, or the third bank day following the exchange's receipt of the exercise order.
Setting-off:
Setting-off may occur any time during the term.
Listing of new expiration month:
A new expiration month is listed four Danish bank days prior to the expiration of the previous options series.
Re-calculation:
Re-calculation can occur in certain cases in the event the share capital of the company is increased or decreased or the company is dissolved or ceases to exist through a merger as well as certain other events in accordance with the provisions set forth in the re-calculation rules
All information provided herein shall be deemed to be general information and under no circumstances constitute any recommendation regarding investments. The reader shall be personally liable for risks associated with any investment based on the information provided in this document. Notwithstanding that the accuracy of the information provided herein has been verified, NASDAQ OMX, or any other subsidiary of NASDAQ OMX, assumes no liability with respect to the accuracy or use of such information. Trading in options and other derivatives instruments may involve risks, advice therefore with your bank or broker before executing a trade. For current rules for trading and clearing of options and futures please see Rules and Regulations for OMX Derivatives Markets.
