Contract Fees & Details
|Tick Size (?)||0.1||Contract Start Date||Dec 7, 2010|
|Tick Value (?)||USD 0.01||Contract Expiry Date||Oct 31, 2011|
|USD per Point||0.10||Contract Type||0-100|
|Min Contract Price||0.0||Max Contract Price||100.0|
|Trading Fee||$0.00||Expiry Fee||$0.00 on all out of the money positions|
Trading Fees at price extremes
(0 - 5 and 95 - 100)
|$0.03||$0.10 on all in-the-money positions|
|Min Margin Price||0.0 Ticks||Margin Up||0.0 Ticks|
|Max Margin Price||100.0 Ticks||Margin Down||0.0 Ticks|
|To Buy||To Sell|
|Best Offer||-||Best Bid||-|
|Max gain per contract||USD -||Max gain per contract||USD -|
|Max loss per contract||USD -||Max loss per contract||USD -|
This contract will settle (expire) at 100 ($10.00) if the minimum Arctic ice extent for 2011 is greater (a higher value) than the record minimum of 2007.
The contract will settle (expire) at 0 ($0.00) if the minimum Arctic ice extent for 2011 is not greater (a lower or equal value) than that of 2007.
This market will be expired on 31st October 2011. Expiry will be based on the minimum Arctic ice extent figure recorded using the IARC-JAXA Information System. Readings are taken on a daily basis and smoothed with a five-day moving average. These daily readings are published on a data table HERE.
(Please be aware that the most recent data on this table may change once the five-day moving average is fully applied. There may also be occasional corrections made to daily figures published on the table in the weeks following initial publication.)
The smallest recorded daily reading in the table on 31st October 2011 will be considered the minimum Arctic ice extent for 2011. This will be compared with the lowest recorded value for 2007 to determine contract expiry. (Please note the minimum Arctic ice extent is referred to on the IARC-JAXA Information System website as "sea ice extent.)
For reference purposes the record minimum Arctic ice extent for 2007 was 4,254,531 square kilometres (recorded on 24th September). The minimum Arctic ice extent for 2011 must be greater than this figure for the contract to expire at 100.
Please contact the Exchange if you have any query or uncertainty (including how it may be settled) about this Contract, the Rule above or the Contract Rules before you trade.