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BAE Systems is a defense contractor in arms and aerospace based out of London, UK. The company was formed in 1999 when British Aerospace (BAe) and Marconi Electronic Systems (MES) merged.[1] BAE Systems has roughly 85,800 employees and operates internationally in the UK, US, Saudi Arabia, Australia, and other countries and territories.[2] The company operates in the fields of Future Technologies, Aerospace, Land, Cyber, Electronics, Engineering Services, and Maritime.[3] Additional flexible products may be available for this equity. Please see ICEBlock Only contracts here[4]


• Future Technologies is a domain of research and development of emerging technologies in partnership with academic and industrial leaders.[5]

• Aerospace and Air focuses on the develeopment, manufacture, upgrade, and support of combat and fast jet trainer aircraft.[6]

• Land is the design, manufacture, upgrade, and support of combat vehicles. Additionally, it provides ammunition, precision munitions, artillery systems, and missile launchers to global customers.[7]

• Cyber Security & Intelligence supplies cyber, intelligence, and security capabilities to government agencies and commercial customers.[8]

• Electronics is the development and delivery of advanced technologies for commercial and military electronic markets. This includes: flight and engine controls, electronic warfare and night vision systems, surveillance and reconnaissance sensors, mobile networked-communications equipment, systems integration, and environmentally friendly energy management systems.[9]

• Services refers to a wide spectrum of support services: Engineering services, information management to commercial, financial, and human resource services.[10]

• Maritime and Sea handles both the design, manufacture, and support of ships, submarines, torpedoes, radars, and command and combat systems as well as ship repair, maintenance, and upgrade services.[11]


In December of 2014, ICE and BAE Systems began talks for an ICE training programme to be delivered to their Middle East locations. ICE training courses Construction Project Management, Managing the Design Process and Project Cost Management along with three ICE training tutors were flown out to Riyadh, Saudi Arabia in 2015 to begin distributing courses to BAE Systems delegates across the country.[12]

BAE Systems PLC Futures
Trading Screen Product Name BAE Systems plc
Trading Screen Hub Name ICEU
Contract Symbol AER
Unit of Trading One option normally equals rights over 1000 shares. Due to corporate action contract adjustments some equity options series may have a non-standard contract size. Details of non-standard contract sizes can be found here[13]
Quotation Pence per share
Minimum Price Fluctuation 0.25 pence per share / £2.50
Last Trading Day 16:30 London Time. Third Friday in expiry month
  • In the event that this day is not a business day, then the Last Trading Day shall normally be the preceding full business day
Algorithm Price-time trading algorithm with priority given to the first order at the best price.
Block Trade Minimum 250 contracts

Block Trades can be reported up to 17:30 London time on any business day other than the Last Trading Day

Exercise Exercise by 18:30 London time on any business day
Delivery Months Target Group Options* - Serial months out to two years. Longer dated expiries beyond two years with a maximum expiry of five years are available on ICE Block only.

Non Target Group Options* - Serial months out to one year. Longer dated expiries beyond one year with a maximum expiry of five years are available on ICE Block only.

  • A list of Target Group and Non Target Options can be found here.[14]
Settlement Date Settlement Date is two business days following the day of exercise/Last Trading Day.
Deliverable Specifications Delivery will be 1,000 shares (or other such number of shares as determined by the terms of the contract).
Option Premium Payable in full by the buyer on the business day following a transaction.
Additional Information In the United States these products may only be offered and sold to prescribed entities under specified conditions.
Stock Exchange London Stock Exchange
Clearing Venues ICEU
NEW YORK 3:00 AM - 11:30 AM

03:00 - 11:30

LONDON 8:00 AM - 4:30 PM

08:00 - 16:30

SINGAPORE 4:00 PM - 12:30 AM

16:00 - 00:30

Codes Clearing Admin Name LSE Master
Physical AER
Logical AER
GMI (FC) None
ION A.C.N. None




ICE BAE Systems PLC Product Spec