IT – CLICK/SECUR - Increase of decimals for EUR single stock options and forwards (46/09)

As previously announced in Exchange Notice 28/09 for Finnish Stock Products, NASDAQ OMX Derivatives Markets will, as of July, 2009, increase the number of decimals in exercise and forward prices for single stock options and forwards denominated in EUR. Following the change exercise and forward prices will have three decimals and the tick size will remain at EUR 0.010.  The reason for the change is to minimize rounding differences following re-calculations and to increase the accuracy of the exercise/forward price.   
The change will apply to all existing derivatives contracts on Finnish shares. Due to the large number of underlyings the change of underlyings will be made during a period of two weeks starting from July 1, 2009.

In connection to the change, a new underlying will be created for each share as well as new instrument series. Active series will then be adjusted to the new underlyings in the same way as when a corporate action adjustment is performed which results in a change of underlying. A list of the new underlying short codes will be sent out prior to the change together with a schedule for when these underlyings are available for trading with three decimals.
Further information concerning member and third party application testing in the External Test Systems will be communicated later in a separate IT notice.