Euro Currency Futures and Euro Currency Options

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Dear clients and students of the futures markets, the following information should answer all of your questions about Euro Currency Futures and Options. You may also call 800-915-4716 or email tkfutures@earthlink.net  your Euro Currency futures questions to be answered by a seasoned professional.

Euro FX futures also known as Euro Currency futures and options on futures offer financial institutions, investment managers, corporations and private investors ways manage the risks associated with currency rate fluctuation (currency hedging) and to take advantage of profit opportunities stemming from changes in currency rates. Currency futures and currency options trading have become very popular recently which has increased the liquidity in Euro Currency future and option contracts. Many savvy investors use the Euro Currency futures and options markets to employ currency hedging strategies to reduce their currency risks.

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The Euro FX contract is based on the Euro, the European Currency traded by the world's largest governments, banks and currency traders. The Chicago Mercantile Exchange (CME) offers trading markets for Euro Currency futures and Euro currency options on futures on both its GLOBEX electronic platform as well as on its trading floor. Euro FX cross-rate futures and options on futures contracts reflect the value of the Euro in relation to the Australian Dollar, British Pound, Canadian Dollar, the Japanese Yen, Norwegian Krone, Swedish Krona and the Swiss Franc.

Euro FX cross-rate futures contracts are quoted as the counter-currency, such as the British pound, per euro and are physically delivered at expiration. Physical delivery takes place on the third Wednesday of the contract month in the country of issuance by a bank that is designated by the Clearing House. Exercised options contracts are settled by the delivery of futures contracts.

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The Euro FX contract size is 125,000 Euro. Euro FX moves in 1 point or $.0001 per Euro increments, which equals $12.50 per contract. Trading may also occur in $.00005 per Euro increments, or $6.25 per contract, for Euro FX futures intra-currency spreads executed on the trading floor and electronically, and for All-or-None transactions.

The Euro Currency futures contract trades six months in the March quarterly cycle, Mar, Jun, Sep, Dec; Options on futures contacts trade four months in the March cycle, Mar, Jun, Sep, Dec and two months not in the March cycle (serial months), plus 4 weekly expirations

Euro Currency futures and options on futures contracts traded at CME are designed to reflect changes in the U.S. Dollar value of the Euro Currency 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.

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 currency rates.

Euro Currency Futures and Options
Contract Specifications

Trading Unit
Euro FX Currency Futures: 125,000 euro physically delivered
Euro FX Options: One Euro futures contract

Trading Hours
Euro Currency 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.
Euro Currency 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
Euro Currency Futures: Six months in the March Quarterly cycle, Mar, Jun, Sep, Dec.
Euro Currency 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.

Point Description
Euro Currency Futures: 1 point = $.0001 per Euro = $12.50 per contract
Euro Currency Options: 1 point = $.0001 per Euro = $12.50 per contract

Minimum Price Fluctuation
Euro Currency Futures: Regular/0.0001 = $12.50, Calendar Spread/0.00005 = $6.25, All or none/0.00005 = $6.25
Euro Currency 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.

Product Code
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)

Also visit: British Pound Futures, Canadian Dollar Futures, Japanese Yen Futures, Swiss Franc Futures and Online Forex Currency Trading

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