Futures Trades
Only authorised Exchange members who satisfy the
prerequisites for the trading of derivatives as established
by the Exchange’s regulations and by law may trade on the
futures market.
Trading is based on the activity of market makers who
have the duty of maintaining supply and demand for all
futures series assigned to them for that activity.
As is the case with trading in SPAD, futures trading take
place in two phases: (see the
Trading hours):
- open – market makers are required to maintain a
quotation and to conclude trades. Trades may only be
concluded in the allowable spread defined by the best
quotation expanded by ± 0.5 %.
- closed – market makers are not required to
establish a quotation. Trading may be realised within the
allowable spread defined by the best quotation valid at the
conclusion of the open phase, expanded by ± 5%.
Principles of trading futures contracts:
- Futures are traded on a special regulated market.
- For trading, the SPAD system environment is used for
technical purposes.
- Trades are performed with the participation of market
makers who have the duty of maintaining supply and demand.
- Futures trades are Exchange trades.
- Guarantees of the Exchange Guarantee Fund apply to
futures trades.
- Univyc keeps records of the individual positions of
trading participants.
- Settlement takes place within the deadline of T+1.
Detailed information:
- Rules for trading futures contracts in the SPAD system
(fut_rules.pdf)
- Standing and activity of a market maker for futures
trading
- Standardisation of futures contracts (fut_standard.pdf)
-
Trading hours
- Trading results on-line
Market makers
Parameters of futures series