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Product LoginMonday, April 16, 2012
Options Trader Alert #2012 - 24
World Currency Options Transitioning to PHLX FOREX Options, Effective Monday, June 25, 2012
Markets:Contact Information:
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What you need to know:
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What is changing?
At the request of the Options Clearing Corporation, effective Monday, June 25, 2012, PHLX will transition the current World Currency Options (WCOs) to FOREX Options. Following the close of business on Friday, June 22, 2012, the following will occur:
The current WCO foreign currency symbols will be converted:
| Foreign Currency | Old Symbol | New Symbol | New Settlement Symbol |
|---|---|---|---|
| Australian Dollar | XDA | FXAD | KUA |
| British Pound | XDB | FXBP | XBU |
| Canadian Dollar | XDC | FXCD | CNZ |
| Euro | XDE | FXEU | BEU |
| Swiss Franc | XDS | FXSF | SEJ |
| New Zealand Dollar | XDZ | FXNZ | XEZ |
| Japanese Yen | XDN | FXJY | N/A |
The strike prices for the transitioned FOREX Options, except the Japanese Yen, will be based on the foreign exchange spot markets instead of an index-like price as currently used for the WCOs.
Which WCOs will be converted?
All of the existing currency options will be converted to the new strike convention, except the Japanese Yen. The Japanese Yen will, however, receive a new symbol.
How will the new strike price conventions be calculated?
The new strike price convention will be calculated by dividing the current strike price by 100.
What underlying spot values will no longer be disseminated of the GIDS?
All values distributed over GIDS related to the WCOs will cease, except those related to the Japanese Yen (under the new symbol: FXJY). NASDAQ OMX will not disseminate an underlying spot value for any of the new PHLX FOREX options because currency spot values are readily available in the market place.
Where can I find more information?
- Refer to the FOREX FAQs on the NASDAQ OMX Trader® website.
- Visit the NASDAQ OMX FOREX web page.
- Contact Transaction Services U.S. Market Sales at +1 800 846 0477.
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