.jpg)
- Single-stock futures and currency futures will be listed on GPW with a precision of four decimal places (PLN 0.0001) as of 4 March 2019
- The trading unit of currency futures will change, as well
Currency futures:
The tick size and the trading unit of all currency futures listed on GPW change as of 4 March 2018. Futures prices will be quoted with a precision of PLN 0.0001 (currently PLN 0.01) and will be expressed per 1 currency unit (currently per 100 currency units), ensuring consistency between the presentation of the price of the underlying (FX rates) and the price of futures.
The tick size and the trading unit will change for all prices of instruments, including daily and final settlement prices. Following the change, the final settlement price will be equal to the average FX rate of the currency (EUR, USD, GBP, CHF) determined by NBP at the fixing on the futures expiry date and the FX rate will not be multiplied by 100 (as it is now).
The change of the tick size and the trading unit of currency futures does not affect the rules of determination of the return on currency futures.
Single-stock futures:
The tick size of all single-stock futures listed on GPW changes as of 4 March 2019. Futures prices will be quoted with a precision of PLN 0.0001. The tick size will be the same irrespective of the futures price. However, the futures price may not be less than PLN 0.01.
The change is designed to determine a single tick size of PLN 0.0001, which is equal to the smallest tick size on the stock market.
The value of futures is equal to the futures price times the number of stocks per contract (multiplier). The value will now be determined with a precision of PLN 0.0001.
The change of the tick size of single-stock futures affects the precision of the daily and the final settlement price, which will now be determined with a precision of PLN 0.0001, as well.
The daily and the final settlement price are determined by the Exchange and used by KDPW_CCP in the daily clearing of futures
