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Norwegian derivative contract specifications

Specifications on this page should be used as a guide only. For full and up-to-date contract specifications please refer to the EDX London Rulebook.

Norwegian month code key

OBX options

Contract value	Index value x NOK 100
Maturity	Contracts of three months are listed every month.
Listing of new expiry month	Occurs on the first Norwegian trading day following the expiration day in each month. At least five put and call options are listed.
Tick size	0.01 where price < NOK 0.1
	0.05 where NOK 0.1 ≤ price < NOK 4.0
	0.10 where NOK 4.0 ≤ price < NOK 10.0
	0.25 where price ≥ NOK 8.0
Delivery	Cash
Option style	European
Premium settlement day	T+1
Expiration day	The third Thursday of the expiration month of the expiration year, or where such day is not a Norwegian trading day, the preceding trading day.
Expiration settlement price	The contract is cash settled on the expiration day against a fixing value. This value is a volume weighted average of the OBX index calculated over the expiration day. Cash settlement shall take place on the first Norwegian bank day after the expiration day.

OBX futures

Contract value	Index value x NOK 100
Maturity	Contracts of three months are listed every month.
Listing of new expiry month	The first listing date is the day after the expiration day in the current month.
Tick size	0.01 where price < NOK 1000
Tick size	0.25 where price ≥ NOK 1000
Delivery	Daily cash settlement
Daily settlement price	Normally last traded price.
Expiration day	The third Thursday of the expiration month of the expiration year, or where such day is not a Norwegian trading day, the preceding trading day.
Expiration settlement price	Volume weighted average price of the OBX index on the expiration day.

Norwegian stock options

Contract size	100 shares
Maturity	Six months
Listing of new expiry month	Occurs on the first Norwegian trading day following the current month’s expiration day. At least five put and call options are listed
Tick size	0.01 where price < NOK 0.1
	0.05 where NOK 0.1 ≤ price <NOK4.0
	0.10 where NOK 4.0 ≤ price <NOK8.0
	0.25 where price ≥ NOK 8.0
Delivery	Physical
Option style	American puts and calls
Premium settlement day	T+1
Expiration day	The third Thursday of the expiration month of the expiration year, or where such day is not a Norwegian trading day, the preceding Norwegian trading day
Expiration settlement price	VWAP for the underlying Norwegian stock over the day

Norwegian stock forwards

Contract size	100 shares
Maturity	Six months
Listing of new expiry month	Occurs on the first Norwegian trading day after the expiration day in each expiry month.
Tick size	0.01 where price < NOK 10
	0.05 where NOK 10 ≤ price <NOK 50
	0.10 where NOK 50 ≤ price <NOK150
	0.25 where NOK150≤ price <NOK1000
	0.50 where price ≥ NOK 1000
Delivery	Daily cash settlement and delivery of the underlying stock
Daily settlement price
Expiration day	The third Thursday of the expiration month of the expiration year, or where such day is not a Norwegian trading day, the preceding Norwegian trading day.
Expiration settlement price	VWAP for the underlying Norwegian stock over the day