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| UNDERLYING ASSET | IBEX 35 Index. |
| INDEX DESCRIPTION | The IBEX 35 Index is a capitalization-weighted index comprising the 35 most liquid Spanish stocks traded in the Continuous Market. |
| MULTIPLIER | 1 Euro. |
| CONTRACT SIZE | The IBEX 35 index times the Multiplier. |
| PRICE QUOTATION | In whole index points with points with a minimum fluctuation of 5 points. |
| MAXIMUM PRICE FLUCTUTATION | None. |
| EXPIRATIONS | Expirations available for trading, clearing and settlement will be the following: - The ten nearest quarterly expiries of the March-June-September-December cycle. - The two nearest calendar months apart from the first expiry of the quarterly cycle. - The expiries of the June-December cycle, not included in the above criteria, to complete expiries with a maximum life of 5 years. |
| EXPIRATION DATE | The third Friday of the expiration month. |
| LAST TRADING DAY | The Expiration Date. |
| DAILY SETTLEMENT PRICE | The same as in the IBEX 35 Futures. |
| SETTLEMENT PRICE AT EXPIRATION | The same as in the IBEX 35 Futures. |
| DAILY SETTLEMENT OF GAINS AND LOSSES ("variation margin") | Before the start of the session of the Business Day following the date of the transaction, by means of cash transfer of the difference with the Daily Settlement Price. |
| SETTLEMENT OF COMMISSIONS | First business day following the date of the transaction. |
| SETTLEMENT AT EXPIRATION | Settlement at Expiration of Contracts shall be made by cash transfer of the difference with the Settlement Price at Expiration. |
| MARGINS | Variable in function to the portfolio of Options and Futures (see Circular on Margin Calculation Parameters). Margins shall be supplied before the start of the session of the Business Day following the date of the calculation. |
| AUCTION PERIOD | From 7:55 a.m. to 8:00 a.m. |
| TRADING HOURS | From 8:00 a.m. to 20:00 p.m. |
For more information please visit the Financial Derivatives General Conditions for trading at MEFF and for Clearing and Settlement at BME Clearing.