One Three-Month Canadian Bankers' Acceptance Futures (BAX).

Four nearest months in the BAX futures quarterly cycle (March, June, September and December)

Quoted in points where each 0.01 point (1 basis point) represents C$25. For example, a quote of 0.465 represents a total option premium of C$1,162.50 (i.e. 46.5 basis points x C$25).

Trading ceases at 10:00 a.m. (Montréal time) on the 2nd London (Great Britain) banking day prior to the 3rd Wednesday of the contract month. If the fixed day is a Bourse or bank holiday in Montréal or Toronto, the last trading day shall be the previous bank business day.

American style.

0.005 = C$12.50 per contract.

Set at a minimum 0.125 point intervals.

300 options or futures equivalent contracts. For the purpose of calculating the reporting limit, positions in the options contracts are aggregated with positions in the underlying futures contracts. For aggregation purposes, the futures equivalent of one in-the-money option contract is one futures contract and the futures equivalent of one at-the money or out-of-the-money option contract is half a futures contract.

None

8:00 a.m. to 3:00 p.m.