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NZX 15 Index Futures Contract (FoX15)


NZFOX Product:

NZX 15 Index Futures Contract (FoX15)

Underlying Security:

NZX 15 Index

Contract Unit:

Valued at NZ$10 per NZX 15 Index point (eg NZ$ 51,000 at 5,100 index points).

Settlement Months:

March/June/September/December, two quarters ahead.

Commodity Code:

ZI

Minimum Price Movement:

One index point (NZ$10)

Final Trading Day:

Trading in maturing contracts will cease at the close of trading ( 5.15pm ) on the third Thursday of the relevant Settlement Month or the first business day thereafter.

Cash Settlement Price:

The Cash Settlement Price is based on the average value of the NZX 15 Index every 5 minutes between 4.05pm and at the time of the random closing price on the Last Trading Day. Of the 12 measured values, the highest and lowest will be discarded and the remaining 10 will be averaged to the nearest one decimal place, eg. 0.05 points will be rounded up.

The Cash Settlement Price will be announced by the SFE as soon as practicable.

Trading Hours:

9.45am – 5.15pm 1

Settlement Day:

On the second business day after the Last Trading Day, SFE Clearing settles cash flows as a result of the Cash Settlement Price.

   
Last Modified: 8th April 2004
1. Unless otherwise indicated, all times are New Zealand times.
2. For full contract information refer to the individual contract specifications and determinations for each contract, available from SFE (see Section 6 of the SFE Operating Rules).

NZSX 15 Index Information


The NZX 15 Index was introduced on 9 February 2004 and was developed as the underlying index for the FoX15 futures contract. The NZX 15 Index comprises the 15 largest and most liquid domestic securities listed on the NZSX Market. Constituent companies are weighted by free float market capitalisation and are reviewed every six months. The weighting of any security in the index is capped at 30%. The index had a base value of 3,000 at 1 October 2001.

You can access NZX 15 Index historical data at www.nzx.com.

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