NYSE Amex Options - The EUROTOP 100 Index Option Specifications Symbol: EUR

Description of Index The EUROTOP 100 Index measures the collective performance of the most actively traded stocks on Europe's major stock exchanges and is designed to be representative of the European stock market as a whole. This broad-market index is calculated continually from 5 a.m. to 11:30 a.m. New York time and disseminated approximately every 15 seconds. The EUROTOP 100 Index (index symbol: E100) is composed of 100 of the most actively traded stocks in nine European countries: Belgium, France, Germany, Italy, The Netherlands, Spain, Sweden, Switzerland and the United Kingdom. The Index is weighted based on each country's total stock market capitalization and Gross National Product (GNP). This weighting determines a country's total number of stocks as well as the number of shares of the stocks represented in the Index. The E100 Index value is based on the aggregate price of the Index's component stocks expressed in European Currency Units (ECUs). The value used for Exchange options trading is 1/10 the value of the E100 Index and is disseminated under the ticker symbol "EUR." In calculating EUR, one point is assigned to equal one U.S. dollar. Thus, an EUR value of 100 is equal to $100.

Components The EUROTOP 100 Index.

Trading Unit The minimum trade size is one option contract. The notional value underlying each contract equals $100 multiplied by the Index value.

Expiration Cycle Three consecutive near-term expiration months plus two successive months from the March cycle.

Expiration The Saturday following the third Friday of the expiration month.

Last Trading Day Two business days prior to expiration (normally a Thursday).

Exercising Options European style. Options may be exercised on the last business day prior to expiration (normally a Friday). Writers are subject to exercise assignment only at expiration. Check with your broker to ascertain cut-off times for exercise and provisions for automatic exercise.

Delivery Method if Exercised Cash settlement based on the dollar difference between the final settlement value of the Index and strike price of the contract multiplied by $100.

Exercise Price Intervals Exercise (strike) prices are set at $5.00 intervals, bracketing the current value of the Index, when the Index is above 200. If the Index is below 200, the interval will be $2.50.

Option Premium Quotations Stated in dollars and cents. Minimum price variant $0.05 (nickel) for series trading under $3.00 and $0.10 (dime) for series trading $3.00 and above.

Index Settlement Value Determined on the last business day prior to expiration, based on an average of Index's values (omitting the 12 highest and 12 lowest values) taken every fifteen seconds between 6:40 a.m. and 7 a.m. New York time. In the event that an Index primary exchange is not open for trading on expiration Friday, the final settlement value will be calculated on the first preceding day when all primary exchanges are open.

Settlement of Exercise Next business day following expiration.

Position Limits 25,000 contracts on the same side of the market, provided that no more than 15,000 of such contracts are in the nearest expiration month series.

Minimum Customer Margin
for Uncovered Writers 100% of the market value of the option plus 15% of the aggregate Index value less any out-of-the-money amount, subject to a minimum of 100% of the market value of the option plus 10% of the aggregate Index value.

Trading Hours 9:30 a.m. to 11:30 a.m., New York time.

Trading System Specialist/Registered Options Trader.

Trading Symbol EUR

Final Settlement Value Symbol EUV


Description of Index	The EUROTOP 100 Index measures the collective performance of the most actively traded stocks on Europe's major stock exchanges and is designed to be representative of the European stock market as a whole. This broad-market index is calculated continually from 5 a.m. to 11:30 a.m. New York time and disseminated approximately every 15 seconds. The EUROTOP 100 Index (index symbol: E100) is composed of 100 of the most actively traded stocks in nine European countries: Belgium, France, Germany, Italy, The Netherlands, Spain, Sweden, Switzerland and the United Kingdom. The Index is weighted based on each country's total stock market capitalization and Gross National Product (GNP). This weighting determines a country's total number of stocks as well as the number of shares of the stocks represented in the Index. The E100 Index value is based on the aggregate price of the Index's component stocks expressed in European Currency Units (ECUs). The value used for Exchange options trading is 1/10 the value of the E100 Index and is disseminated under the ticker symbol "EUR." In calculating EUR, one point is assigned to equal one U.S. dollar. Thus, an EUR value of 100 is equal to $100.
Components	The EUROTOP 100 Index.
Trading Unit	The minimum trade size is one option contract. The notional value underlying each contract equals $100 multiplied by the Index value.
Expiration Cycle	Three consecutive near-term expiration months plus two successive months from the March cycle.
Expiration	The Saturday following the third Friday of the expiration month.
Last Trading Day	Two business days prior to expiration (normally a Thursday).
Exercising Options	European style. Options may be exercised on the last business day prior to expiration (normally a Friday). Writers are subject to exercise assignment only at expiration. Check with your broker to ascertain cut-off times for exercise and provisions for automatic exercise.
Delivery Method if Exercised	Cash settlement based on the dollar difference between the final settlement value of the Index and strike price of the contract multiplied by $100.
Exercise Price Intervals	Exercise (strike) prices are set at $5.00 intervals, bracketing the current value of the Index, when the Index is above 200. If the Index is below 200, the interval will be $2.50.
Option Premium Quotations	Stated in dollars and cents. Minimum price variant $0.05 (nickel) for series trading under $3.00 and $0.10 (dime) for series trading $3.00 and above.
Index Settlement Value	Determined on the last business day prior to expiration, based on an average of Index's values (omitting the 12 highest and 12 lowest values) taken every fifteen seconds between 6:40 a.m. and 7 a.m. New York time. In the event that an Index primary exchange is not open for trading on expiration Friday, the final settlement value will be calculated on the first preceding day when all primary exchanges are open.
Settlement of Exercise	Next business day following expiration.
Position Limits	25,000 contracts on the same side of the market, provided that no more than 15,000 of such contracts are in the nearest expiration month series.
Minimum Customer Margin for Uncovered Writers	100% of the market value of the option plus 15% of the aggregate Index value less any out-of-the-money amount, subject to a minimum of 100% of the market value of the option plus 10% of the aggregate Index value.
Trading Hours	9:30 a.m. to 11:30 a.m., New York time.
Trading System	Specialist/Registered Options Trader.
Trading Symbol	EUR
Final Settlement Value Symbol	EUV