Derivatives Products

SF30

MT30 (MSCI Tadawul 30 Index)

SF30 multiplied by SAR 100

0.5 points valued at SAR 50

20%

• All outstanding positions are Mark to Market based on daily settlement price at the end of the day T+0
• Variation margins has to be settled by the clearing members to Muqassa by next day (T+1) by a prescribed time as outlined in Muqassa Procedure

Daily settlement price of the futures contract shall be based on:

• The VWAP(volume weighted average price) of last 10 minutes of the trading day, subject to a minimum of 10 trades in last 10 minutes.
• And if there are less than 10 trades in last 10 minutes then the Exchange shall use the Theoretical Futures Price (TFP)1 to compute the fair value of the contract at the market close

T+0²

The Final Settlement Price shall be the average value, rounded to the nearest 0.5 of an index point (values of 0.25 or 0.75 and above being rounded upwards), taken at every 15 seconds or at such intervals as may be determined by the Exchange from time to time from 14:00 to 15:00 plus one value after 15:10:30 of the MT30 on the Final Trading Day excepting the 3 highest and 3 lowest values.

• Maximum number of net long or net short position to be held for all months combined 10,000
• Qualified hedgers can hold positions beyond 10,000 contracts subject to Exchange approval upon submission of relevant documents of owning the underlying assets

2

Current month, next month and the next two quarters

Yes

Yes

Pre-open(opening auction): 9:00 - 9:30
Market Open(trading): 9:30 – 15:30

Third Thursday of the expiry month. If it is a holiday then expiry will move backward to the previous trading day

SSF (Single Stock Futures)

• Al- Rajhi
• Aramco
• SNB
• Alinma Bank
• SABIC
• STC
• Saudi Kayan
• Saudi Electricity
• Almarai
• Maaden

100 shares

0.05 SAR

20%

Cash settled

Daily settlement price of the futures contract shall be based on:

• The VWAP(volume weighted average price) of last 10 minutes of the trading day, subject to a minimum of 10 trades in last 10 minutes.
• And if there are less than 10 trades in last 10 minutes then the Exchange shall use the Theoretical Futures Price (TFP)1 to compute the fair value of the contract at the market close

T+0²

Closing price of underlying

Yes

2

Current month, next month and the next two quarters

Yes

Pre-open (Opening Auction): 9:00 - 9:30
Open (Continuous trading): 9:30 – 15:30

Third Thursday of the expiry month. If it is a holiday, then expiry will move backward to the previous trading day

SSO (Single Stock Options)

1. Aramco 2. AL RAJHI  3. SABIC   4. Saudi Telecom Co.   

100 shares

0.01 SAR Valued at SAR 1

Current month, next month and the next two quarters

• Manual Exercise request can be entered by long position holder anytime between trade date and expiry date and all ITM and ATM request will be exercised
• On expiry date, all ITM and ATM strike with open position will be automatically exercised and all OTM strikes will be rejected
• On expiry date, Members can Deny exercise on any open positon and which will expire with zero value
• Assignment allocation for every exercise request will be done on a random basis

Minimum 4 ITM (in-the-money), 4 OTM (out-of-money) and 1 ATM (at-the-money) will be always available for trading. More can be added if underlying price moves significantly

American style

Closing price of underlying (applicable to Daily Exercise request and Exercise on expiry date)

T+1 for Derivatives MTM (Option premium MTM and Exercise/Assignment MTM in Derivatives will be settled on T+1)

Physically Settled. Exercise Date +3 (E+3)

2

Yes

Yes

Pre-open (Opening Auction): 9:00 - 9:30

Open (Continuous trading): 9:30 – 15:30

Third Thursday of the expiry month. If it is a holiday, then expiry will move backward to the previous trading day