MXACW Contract Specifications

Cboe MSCI^® ACWI^® Options Contract Specifications

Trading Symbol:

MXACW

Settlement Value Symbol:

MSACW

Description:

Cboe MSCI^® ACWI^® Options are cash-settled options on the MSCI ACWI Net Total Return USD Index, a free floatadjusted market capitalization index that is designed to measure equity market performance throughout the world. The MSCI ACWI Net Total Return USD Index is comprised of stocks from both developed and emerging markets.

The MSCI ACWI Net Total Return USD Index includes the following 23 developed market country indexes: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States.

The MSCI ACWI Net Total Return USD Index includes the following 26 emerging market country indexes: Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Qatar, Russia, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey, and United Arab Emirates.

Multiplier:

$100

Premium Quotation:

Stated in points, one point equals $100. Minimum tick for series trading below $3 is 0.05 ($5.00); at or above $3 is 0.10 ($10.00).

Strike (Exercise) Prices:

In-, at- and out-of-the-money strike prices are initially listed. New strikes can be added as the underlying trades through the highest and lowest strike price available.

Strike Price Interval:

Strike prices may be listed with a minimum interval of 2.5 points if the strike price is less than 200. When the strike price is 200 or above, strike price intervals will be no less than 5 points.

Expiration Months:

Up to twelve (12) weekly expirations and up to 12 near term standard monthly expirations, 12 near term End of Month expirations, and 5 Quarterly Index expirations may be listed. The twelve weekly expirations shall be for the nearest weekly expirations from the actual listing date. Standard monthly expirations in MSCI ACWI options are not counted as part of these maximum twelve weekly expirations. In addition, the Exchange may list up to 10 MSCI ACWI LEAPS expiration months that expire from 12 to 180 months from date of issuance.

Expiration Date:

For standard monthly expirations, the third Friday of the expiring contract month. For weekly expirations, each Pending Regulatory Approval Friday of the expiring contract month other than the third Friday. If the Exchange is closed on a Friday, option series will expire on the first business day immediately prior to that Friday. For End of Month options, the last business day of the contract month. For Quarterly options, the last business day of the calendar quarter (March, June, September, December).

Exercise Style:

European and P.M.-settled - MSCI ACWI options generally may be exercised only on the Expiration Date.

Last Trading Day:

Trading in expiring MSCI ACWI options ends at 3:00 p.m. (Chicago time) on the business day (usually a Thursday) preceding their Expiration Date.

Settlement of Option Exercise:

Exercise will result in delivery of cash on the business day following expiration. The exercise-settlement value, MSACW, is the official closing value of the MSCI ACWI as reported by MSCI the day after the last trading day of the expiring contract. The exercise-settlement amount is equal to the difference between the exercise-settlement value and the exercise price of the option, multiplied by $100.

Position and Exercise Limits:

The position limit is 50,000 contracts on the same side of the market, and the exercise limit is 50,000 contracts.

Customer Strategy-Based Margin:

Purchases of puts or calls with 9 months or less until expiration must be paid for in full. Writers of uncovered puts or calls must deposit / maintain 100% of the option proceeds* plus 15% of the aggregate contract value (current index level x $100) minus the amount by which the option is out-of-the-money, if any, subject to a minimum for calls of option proceeds* plus 10% of the aggregate contract value and a minimum for puts of option proceeds* plus 10% of the aggregate exercise price amount. (*For calculating maintenance margin, use option current market value instead of option proceeds.) Additional margin may be required pursuant to Exchange Rules 10.3(h) and 10.10.

CUSIP Number:

12512B101

Trading Hours:

8:30 a.m. to 3:00 p.m. (Chicago time).