Euro FX Futures and Options
Euro FX futures and options on futures contracts traded at CME are designed to reflect changes in the U.S. dollar value of the euro. Futures contracts are quoted in the U.S. dollars per euro, and call for physical delivery at expiration. Exercised options contracts are settled by the delivery of futures contracts.
Euro Fx cross-rate futures and options on futures contracts reflect the value of the euro in relation to the British pound, the Japenese yen and the Swiss franc. Euro FX cross-rate futures contracts are quoted as the counter-currency (i.e, British pound) per euro and are physically delivered at expiration. Exercised options contracts are settled by the delivery of futures contracts.
Financial institutions, investment managers, corporations and private investors can use Euro FX and Euro FX cross-rate futures and options to manage the risks associated with currency rate fluctuation and to take advantage of profit opportunities stemming from changes in currancy rates.
Euro FX Futures: 125,000 euro Physically delivered
Euro FX Options: One Euro futures contract
Futures: Floor/7:20a.m.-2:00p.m. LTD (9:16a.m.) GLBX2 Mon/Thurs 4:30p.m.-4:00p.m. Sun & Hol 5:30p.m.- 4:00p.m.
Options: Floor/7:20a.m.-2:00a.m. LTD (2:00p.m.) GLBX2 Mon-Thurs 2:30p.m.-7:05a.m. Sun & Hol 5:30p.m.-7:05a.m.
Futures: Six months in the March Quarterly cycle, Mar, Jun, Sep, Dec.
Options: Four months in the March cycle, Mar, Jun, Sep, Dec and two months not in the March cycle (serial months), plus 4 weekly expirations.
Futures: 1 point = $.0001 per Euro = $12.50 per contract
Options: 1 point = $.0001 per Euro = $12.50 per contract
Minimum Price Fluctuation
Futures: Regular/0.0001 = $12.50, Calendar Spread/0.00005 = $6.25, All or none/0.00005 = $6.25
Options: Regular/0.0001 = $12.50, Cab 0.00005 = $6.25, Special "Half Tick" 0.00005 = $6.25 for premium < 0.0005, spreads w/net premium < 0.0005, non-generic combo trades < 0.0010.
Options Strike Prices
Options: $.01 per Euro, e.g. $1.0500,$1.0600,etc. For the first seven expirations, additional strike prices will be listed at $.005 intervals, e.g., $1.0550, $1.0650. etc.
Futures: Clearing=EC, Ticker=EC, GLOBEX2=6E, PRS=EC, AON=UG, (100 Threshold)
Options: CLearing Calls/Puts=EC, Ticker Calls=EC, Ticker Puts=EC, PRS, Calls/Puts=ZC, Weekly Expiration Options: Calls=1XC/5XC, Puts=1XP/5XP, AON=UG (100 Threshold)
See Also: Eurodollar Futures, British Pound Futures, Canadian Dollar Futures, Japenese Yen Futures, Swiss Franc Futures