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Japanese Yen Futures Options Trading

Free Japanese Yen Futures Trading eGuide

Japenese yen futures and options on futures contracts traded at CME are designed to reflect changes in the U.S. dollar value of the yen. Futures contracts are quoted in U.S. dollars per yen, and call for physical delivery at expiration. Exercised options contracts are settled by the delivery of futures contracts.

Financial institutions, investment managers, corporations and private investors can use Japenese yen futures and options to manage the risks associated with currency rate fluctuation and to take advantage of profit opportunities stemming from changes in currency rates.

Contract Specifications

Trading Unit
Japenese Yen Futures: 12,500,000 Japenese yen Physically delivered
Japenese Yen Options: One Japenese yen Futures Contract

Trading Hours
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.

Trading Months
Futures: Six months in the March Quarterly cycle, Mar, Jun, Sep, Dec.
Options: Four months in the March cycle and two months not in the March cycle, plus four weekly expirations.

Point Description
Futures: 1 point = $.000001 per Japenese yen = $12.50 per contract
Options: 1 point = $.000001 per Japenese yen = $12.50 per contract

Minimum Price Fluctuation
Futures: Regular/0.000001 = $12.50, Calendar Spread/0.0000005 = $6.25, All or none/0.0000005 = $6.25
Options: Regular/0.000001 = $12.50, Cab 0.0000005 = $6.25, Special "Half Tick" 0.0000005 = $6.25 for premium < 0.000005, spreads w/net premium < 0.000005, non-generic combo trades < 0.000010.

Options Strike Prices
Options: $0.0001 per Japenese yen, e.g. $0.0072, $0.0071 plus $0.00005 intervals for the first 7 listed expirations, e.g. $0.00725, $0.00735.

Product Code
Futures: Clearing=J1, Ticker Calls=JY, GLOBEX2=6J, PRS=JY, AON=LJ,(100 Threshold) Options: ClearingCalls/Puts=J1,Ticker Calls=CJ, Ticker Puts=PJ PRS Calls/Puts=OJ, Weekly expiration Options: Calls=1JC/5JC, Puts=1JP/5JP, AON=LJ, (100 Threshold)

See Also: British Pound Futures, Canadian Dollar Futures, Swiss Franc Futures, Euro FX Futures