S&P Merval Index Futures
S&P Merval Index Futures are equity index futures that represent the obligation to exchange a theoretical portfolio of stocks mirroring the index at a predetermined future date and price established during trading.
Globally, they rank among the most actively traded derivative contracts.
BYMA offers trading in S&P Merval Index Futures.
Main contract features
- Ticker or Trading Code:MV
- Trading Currency:ARS
- Contract Size:An S&P Merval index unit
- Minimum Trading Quantity:An S&P Merval contract
- Minimum Price Fluctuation:1 S&P Merval Index point, equivalent to $1 (one peso) per contract
- Available Expirations:Current month and next two months
- Last Trading Day:Last business day of the traded contract month
About S&P Merval Index Futures Trading
| Underlying asset | S&P MERVAL Index |
| Initial margin per contract | View press release |
| Initial Margin Monthly Adjustment Factor | View press release |
| Market fees | View fees |
| Maximum price variation | Up to 100% of the margins |
| Settlement method | By difference between the closing price of the future contract and the purchase price negotiated between the parties. |
More about S&P Merval Index Futures
- Both sides of the trade are required to post initial margin commesurate with the underlying asset.
- Trades must be settled in the currency of execution.
- Daily Mark-to-Market adjustments are settled in Argentine Pesos (ARS) on the subsequent business day.
- A stock index future represents the right and obligation for a cash settlement based on the notional portfolio of stocks referenced by the index.
- Future trades are cashed-settled based on price differences.
- Trades are executed on the Price-Time Priority (PTP) Segment throughout the trading session.
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