UTILITY INDEX

Trading Symbol: UTY

Exercise Style: European

Position Limits: 10,500 Contracts (All positions are aggregated)

Trading Hours: 9:30 a.m. to 4:10 p.m. EST

Last Trading Day: Third Friday of the expiration month.

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

Settlement: Cash

Settlement Value: Closing Value of Sector Index, (Based upon the closing pnces of the component stocks on the last day (usually Friday) prior to expiration.)

Sector Index Value: Total Capitalization of Sector Index

Calculation: Base Market Divisor

Sector Index : Multiplier $100.

Exercise Price : One point = $100. Thus, a premium quote of 2 = $200.

Quotations: The minimum change in a premium under 3 is 1/16,and the minimum change in a quote of 3 or greater is 1/8.

Issuer & Guarantor: The Options Clearing Corporation (OCC)


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