PRODUCTS PRODUCT GUIDE AND CALENDAR

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1 PRODUCTS 2015 PRODUCT GUIDE AND CALENDAR

2 As the world's leading and most diverse derivatives marketplace, CME Group (cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the world's leading central counterparty clearing providers, which offers clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.

3 2015 FX Product Guide and Calendar CME FX The Smart Solution for an Evolving Global Landscape Participants in today s global FX marketplace are facing numerous challenges: Historically low volatility, rising costs from changing regulations and a shrinking pool of liquidity providers. To successfully navigate these challenges and uncover the compelling opportunities still available, you need an experienced partner with a broad range of efficient, flexible product solutions: CME FX. When It Comes to Trading FX, The Choice is Clear CME FX. From the Sydney open to the Chicago close, no one offers you more ways to capitalize on FX opportunities, effectively manage risk and increase capital efficiency of your trading. Broadest listed FX product offering, now with both US and EU jurisdictional choices CME FX: 71 futures, 30 options on 23 currencies FX on CME Europe: 30 futures on 24 currencies Flexible execution choices, enhanced access to liquidity CME Globex Privately negotiated blocks and Exchange for Physicals (EFPs) CME ClearPort CME Direct Source: Bank of International s Triennial Central Bank Survey, September 2013.

4 cmegroup.com/fx Full range of OTC FX clearing services via CME (US) 12 OTC NDFs 26 Cash-Settled Forwards Global and increasingly diverse customer base Banks, hedge funds, CTAs, Investment managers, insurance companies, proprietary trading firms, pension funds, multinationals, individual traders a world of participants rely on our markets for hedging and trading needs every day. Learn more at cmegroup.com/fx

5 WELCOME TO THE 2015 FX PRODUCT GUIDE AND CALENDAR For the convenience of our customers, this calendar provides an overview of contract specifications, expiration dates and relevant economic release dates for TABLE OF CONTENTS CONTRACT SPECIFICATIONS SECTION GUIDE 1 TRADING HOURS 4 MAJORS 7 CROSS RATES 25 EMERGING MARKETS 43 E-MICROS & E-MINIS 79 INDEXES 95 VOLATILITY-BASED CONTRACTS CALENDAR 111 CONTACT INFORMATION 125

6 2015 FX Product Guide and Calendar CME FX FUTURES AND OPTIONS: CONTRACT SPECIFICATIONS All contracts listed herein are listed with, and subject to, the rules and regulations of CME Group s United States Designated Contract Market ( CME ) and not of its UK subsidiary, CME Europe Limited. MAJORS FX FUTURES AND OPTIONS CONTRACTS AUD/USD 8 CAD/USD 10 CHF/USD 12 EUR/USD 14 GBP/USD 16 JPY/USD 18 NOK/USD 20 NZD/USD 21 SEK/USD 23 CROSS RATES FX FUTURES AND OPTIONS CONTRACTS AUD/CAD 26 AUD/JPY 27 AUD/NZD 28 CAD/JPY 29 CHF/JPY 30 EUR/AUD 31 EUR/CAD 32 EUR/CHF 33 EUR/GBP 35 EUR/JPY 37 EUR/NOK 39 EUR/SEK 40 GBP/JPY 41 GBP/CHF 42 1

7 cmegroup.com/fx EMERGING MARKETS FX FUTURES AND OPTIONS CONTRACTS BRL/USD 44 CNY/EUR 46 CNY/USD 48 USD/CNY 50 CZK/USD 51 CZK/EUR 53 EUR/TRY 55 HUF/USD 56 HUF/EUR 58 ILS/USD 60 INR/USD 62 KRW/USD 63 MXN/USD 65 PLN/USD 67 PLN/EUR 69 RUB/USD 71 USD/CLP 73 USD/CNH 74 USD/TRY 75 USD/ZAR 76 ZAR/USD 77 E-MICROS & E-MINIS FX FUTURES CONTRACTS E-MICRO AUD/USD 80 E-MICRO CAD/USD 81 E-MICRO USD/CAD 82 E-MINI EUR/USD 83 E-MICRO EUR/USD 84 E-MICRO GBP/USD 85 E-MICRO INR/USD 86 E-MINI JPY/USD 87 E-MICRO JPY/USD 88 E-MICRO USD/JPY 89 E-MICRO USD/CHF 90 E-MICRO CHF/USD 91 2

8 2015 FX Product Guide and Calendar E-MICRO USD/CNH 92 E-MICRO USD/CNY 93 INDEXES FX FUTURES CONTRACTS DOW JONES CME FX$INDEX 96 VOLATILITY-BASED CONTRACTS FX FUTURES CONTRACTS AUD/USD QUARTERLY VARIANCE 98 AUD/USD SEMI-ANNUAL VARIANCE 99 AUD/USD ANNUAL VARIANCE 100 EUR/USD QUARTERLY VARIANCE 101 EUR/USD SEMI-ANNUAL VARIANCE 102 EUR/USD ANNUAL VARIANCE 103 GBP/USD QUARTERLY VARIANCE 104 GBP/USD SEMI-ANNUAL VARIANCE 105 GBP/USD ANNUAL VARIANCE 106 JPY/USD QUARTERLY VARIANCE 107 JPY/USD SEMI-ANNUAL VARIANCE 108 JPY/USD ANNUAL VARIANCE 109 3

9 cmegroup.com/fx TRADING HOURS CME Globex: Chicago (Central Time): Sunday Opens at 5:00 p.m. (for the next trade date) 4:00 p.m. the following day. Monday through Friday Opens at 5:00 p.m. (for the next trade date) 4:00 p.m. the next day. Except on Friday Closes at 4:00 p.m. and reopens Sundays at 5:00 p.m. London (GMT): Sunday Opens at 11:00 p.m. (for the next trade date) 10:00 p.m. the following day. Monday through Friday Opens at 11:00 p.m. (for the next trade date) 10:00 p.m. the next day. Except on Friday Closes at 10:00 p.m. and reopens Sundays at 11:00 p.m. Singapore (UTC/GMT+8): Monday Opens at 7:00 a.m. 6:00 a.m. the following day. Tuesday through Saturday Opens at 7:00 a.m. 6:00 a.m. the next day. Except on Saturday Closes at 6:00 a.m. and reopens Monday at 7:00 a.m. Tokyo (UTC/GMT+9): Monday Opens at 8:00 a.m. 7:00 a.m. the following day. Tuesday through Saturday Opens at 8:00 a.m. 7:00 a.m. the next day. Except on Saturday Closes at 7:00 a.m. and reopens Monday at 8:00 a.m. 4

10 2015 FX Product Guide and Calendar Open Outcry: Chicago (Central Time): Monday through Friday: 7:20 a.m. 2:00 p.m. Central Time London (GMT): Monday through Friday: 1:20 p.m. 8:00 p.m. Singapore (UTC/GMT+8): Monday through Friday: 9:20 p.m. 4:00 a.m. Tokyo (UTC/GMT+9): Monday through Friday: 10:20 p.m. 5:00 a.m. CME ClearPort: Chicago (Central Time): Sunday through Friday 5:00 p.m. 4:15 p.m. with a 45-minute break each day beginning at 4:15 p.m. London (GMT): Sunday through Friday 11:00 p.m. 10:15 p.m. the following day with a 45-minute break each day beginning at 10:15 p.m. Singapore (UTC/GMT+8): Monday through Saturday 7:00 a.m. 6:15 a.m. the following day with a 45-minute break each day beginning at 6:15 a.m. Tokyo (UTC/GMT+9): Monday through Saturday 8:00 a.m. 7:15 a.m. the following day with a 45-minute break each day beginning at 7:15 a.m. Note: Times listed are when daylight saving time is not in effect. 5

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12 2015 FX Product Guide and Calendar MAJORS FX FUTURES AND OPTIONS CONTRACTS AUD/USD 8 CAD/USD 10 CHF/USD 12 EUR/USD 14 GBP/USD 16 JPY/USD 18 NOK/USD 20 NZD/USD 21 SEK/USD 23 7

13 cmegroup.com/fx MAJORS FX FUTURES AND OPTIONS CONTRACTS AUD/USD 100,000 Australian dollars Physical delivery Position Accountability 6,000 contracts CME Globex Electronic Markets: 6A Open Outcry: AD Trading can occur in $.0001 per Australian dollar increments ($10.00/contract). Also, trades can occur in $ per Australian dollar increments ($5.00/contract) for AUD/USD futures intra-currency spreads executed on the trading floor and electronically. Twenty months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 8

14 2015 FX Product Guide and Calendar AUD/USD Options Quarterly and serial options: Open Outcry Calls: KA Puts: JA; Globex: 6A Weekly options: Open Outcry: 1A-5A; Globex: 6A1-6A5 European-style options: Open Outcry: XA; Globex: XAD European-style weekly options: Open Outcry: AD1-AD5; Globex: XA1-XA5 Pricing Conventions and Calculating Cash Premiums An Australian dollar option price quoted as 1.58 is equivalent to 1.58 x 0.01 = when the price is quoted in full. The cash price of the option is x 100,000 (contract size) = $1, $.0001 per Australian dollar = $10.00/contract; also, trades may occur at $ ($5.00), $ ($15.00), $ ($25.00), $ ($35.00) and $ ($45.00), which are less than five ticks of premium. Contract Listings Quarterly options: The first four months in the March quarterly cycle. Serial options: Two serial options are listed at any time. Their expirations precede that of the underlying futures contract by one and two months. For example, following the expiration of the March futures and options cycle, April and May serial options on the front June futures contract are still available for trading. Consequently, the serial option expirations fall in Jan, Feb, Apr, May, Jul, Aug, Oct and Nov. Weekly options: Four weekly options are listed at any time. Expiration/ Quarterly and serial options: Close of trading is on the second Friday immediately preceding the third Wednesday of the contract month. Weekly options: Close of trading is on the four nearest Fridays that are not also terminations for quarterly and serial options. 9

15 cmegroup.com/fx CAD/USD 100,000 Canadian dollars Physical delivery Position Accountability 6,000 contracts CME Globex Electronic Markets: 6C Open Outcry: CD Trading can occur in $.0001 per Canadian dollar increments ($10.00/ contract). Also, trades can occur in $ per Canadian dollar increments ($5.00/contract) for CAD/USD futures intra-currency spreads executed on the trading floor and electronically. Twenty months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the business day immediately preceding the third Wednesday of the contract month (usually Tuesday). 10

16 2015 FX Product Guide and Calendar CAD/USD Options Quarterly and serial options: Open Outcry Calls: CV; Puts: PV; Globex: 6C Weekly options: Open Outcry: 1C-5C; Globex: 6C1-6C5 European-style options: Open Outcry: YD; Globex: XD European-style weekly options: Open Outcry: 1D-5D; Globex: XD1-XD5 Pricing Conventions and Calculating Cash Premiums A Canadian dollar option price quoted as 1.58 is equivalent to 1.58 x 0.01 = when the price is quoted in full. The cash price of the option is x 100,000 (contract size) = $1, $.0001 per Canadian dollar = $10.00/contract; also, trades may occur at $ ($5.00), $ ($15.00), $ ($25.00), $ ($35.00) and $ ($45.00), which are less than five ticks of premium. Contract Listings Quarterly options: The first four months in the March quarterly cycle. Serial options: Two serial options are listed at any time. Their expirations precede that of the underlying futures contract by one and two months. For example, following the expiration of the March futures and options cycle, April and May serial options on the front June futures contract are still available for trading. Consequently, the serial option expirations fall in Jan, Feb, Apr, May, Jul, Aug, Oct and Nov. Weekly options: Four weekly options are listed at any time. Expiration/ Quarterly and serial options: Close of trading is on the second Friday immediately preceding the third Wednesday of the contract month. Weekly options: Close of trading is on the four nearest Fridays that are not also terminations for quarterly and serial options. 11

17 cmegroup.com/fx CHF/USD 125,000 Swiss francs Physical delivery Position Accountability 10,000 contracts CME Globex Electronic Markets: 6S Open Outcry: SF Trading can occur in $.0001 per Swiss franc increments ($12.50/contract). Also, trades can occur in $ per Swiss franc increments ($6.25/ contract) for CHF/USD futures intra-currency spreads executed on the trading floor and electronically. Twenty months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 12

18 2015 FX Product Guide and Calendar CHF/USD Options Quarterly and serial options: Open Outcry Calls: CF; Puts: PF; Globex: 6S Weekly options: Open Outcry: 1S-5S; Globex: 6S1-6S5 European-style options: Open Outcry: YS; Globex: XS European-style weekly options: Open Outcry: 1W-5W; Globex XS1-XS5 Pricing Conventions and Calculating Cash Premiums A Swiss franc option price of 2.93 is equivalent to 2.93 x 0.01 = when the price is quoted in full. The cash price of the option is x 125,000 (contract size) = $3, $.0001 per Swiss franc = $12.50/contract; also, trades may occur at $ ($6.25), $ ($18.75), $ ($31.25), $ ($43.75) and $ ($56.25), which are less than five ticks of premium. Contract Listings Quarterly options: The first four months in the March quarterly cycle. Serial options: Two serial options are listed at any time. Their expirations precede that of the underlying futures contract by one and two months. For example, following the expiration of the March futures and options cycle, April and May serial options on the front June futures contract are still available for trading. Consequently, the serial option expirations fall in Jan, Feb, Apr, May, Jul, Aug, Oct and Nov. Weekly options: Four weekly options are listed at any time. Expiration/ Quarterly and serial options: Close of trading is on the second Friday immediately preceding the third Wednesday of the contract month. Weekly options: Close of trading is on the four nearest Fridays that are not also terminations for quarterly and serial options. 13

19 cmegroup.com/fx EUR/USD 125,000 euros Physical delivery Position Accountability 10,000 contracts CME Globex Electronic Markets: 6E Open Outcry: EC Trading can occur in $.0001 per euro increments ($12.50/contract). Also, trades can occur in $ per euro increments ($6.25/contract) for EUR/USD futures intra-currency spreads executed on the trading floor and electronically. Twenty months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 14

20 2015 FX Product Guide and Calendar EUR/USD Options Quarterly and serial options: Open Outcry: EC; Globex: 6E Weekly options: Open Outcry: 1X-5X; Globex: 6E1-6E5 European-style options: Open Outcry: YT; Globex: XT European-style weekly options: Open Outcry: 1T-5T; Globex: 1Q-5Q Pricing Conventions and Calculating Cash Premiums A FX option price quoted as is equivalent to x = when the price is quoted in full. Similarly, a EUR/USD option price quoted as is already quoted in full. The cash price of the option is x 125,000 (contract size) = $2, $.0001 per euro = $12.50/contract; also, trades may occur at $ ($6.25), $ ($18.75), $ ($31.25), $ ($43.75) and $ ($56.25), which are less than five ticks of premium. Contract Listings Quarterly options: The first four months in the March quarterly cycle. Serial options: Two serial options are listed at any time. Their expirations precede that of the underlying futures contract by one and two months. For example, following the expiration of the March futures and options cycle, April and May serial options on the front June futures contract are still available for trading. Consequently, the serial option expirations fall in Jan, Feb, Apr, May, Jul, Aug, Oct and Nov. Weekly options: Four weekly options are listed at any time. Expiration/ Quarterly and serial options: Close of trading is on the second Friday immediately preceding the third Wednesday of the contract month. Weekly options: Close of trading is on the four nearest Fridays that are not also terminations for quarterly and serial options. 15

21 cmegroup.com/fx GBP/USD 62,500 British pounds Physical delivery Position Accountability 10,000 contracts CME Globex Electronic Markets: 6B Open Outcry: BP Trading can occur in $.0001 per British pound increments ($6.25/contract). Twenty months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 16

22 2015 FX Product Guide and Calendar GBP/USD Options Quarterly and serial options: Open Outcry Calls: CP; Puts: PP; Globex: 6B Weekly options: Open Outcry: 1B-5B; Globex: 6B1-6B5 European-style options: Open Outcry: YB; Globex: XB European-style weekly options: Open Outcry: 1P-5P; Globex: XB1-XB5 Pricing Conventions and Calculating Cash Premiums A British pound option price quoted as is equivalent to x 0.01 = when the price is quoted in full. The cash price of the option is x 62,500 (contract size) = $1, $.0001 per British pound = $6.25/contract. Contract Listings Quarterly options: The first four months in the March quarterly cycle. Serial options: Two serial options are listed at any time. Their expirations precede that of the underlying futures contract by one and two months. For example, following the expiration of the March futures and options cycle, April and May serial options on the front June futures contract are still available for trading. Consequently, the serial option expirations fall in Jan, Feb, Apr, May, Jul, Aug, Oct and Nov. Weekly options: Four weekly options are listed at any time. Expiration/ Quarterly and serial options: Close of trading is on the second Friday immediately preceding the third Wednesday of the contract month. Weekly options: Close of trading is on the four nearest Fridays that are not also terminations for quarterly and serial options. 17

23 cmegroup.com/fx JPY/USD 12,500,000 Japanese yen Physical delivery Position Accountability 10,000 contracts CME Globex Electronic Markets: 6J Open Outcry: JY Trading can occur in $ per Japanese yen increments ($12.50/ contract). Also, trades can occur in $ per Japanese yen increments ($6.25/contract) for JPY/USD futures intra-currency spreads executed on the trading floor and electronically. Twenty months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 18

24 2015 FX Product Guide and Calendar JPY/USD Options Quarterly and serial options: Open Outcry Calls: CJ Puts: PJ; Globex: 6J Weekly options: Open Outcry: 1J 5J; Globex: 6J1-6J5 European-style options: Open Outcry: YJ; Globex: XJ European-style weekly options: Open Outcry: 1Y-5Y; Globex: 1O-5O Pricing Conventions and Calculating Cash Premiums A Japanese yen option price quoted as 1.53 is equivalent to 1.53 x = when the price is quoted in full. The cash price of the option is x 12,500,000 (contract size) = $1, $ per Japanese yen = $12.50/contract; also, trades may occur at $ ($6.25), $ ($18.75), $ ($31.25), $ ($43.75) and $ ($56.25), which are less than five ticks of premium. Contract Listings Quarterly options: The first four months in the March quarterly cycle. Serial options: Two serial options are listed at any time. Their expirations precede that of the underlying futures contract by one and two months. For example, following the expiration of the March futures and options cycle, April and May serial options on the front June futures contract are still available for trading. Consequently, the serial option expirations fall in Jan, Feb, Apr, May, Jul, Aug, Oct and Nov. Weekly options: Four weekly options are listed at any time. Expiration/ Quarterly and serial options: Close of trading is on the second Friday immediately preceding the third Wednesday of the contract month. Weekly options: Close of trading is on the four nearest Fridays that are not also terminations for quarterly and serial options. 19

25 cmegroup.com/fx NOK/USD 2,000,000 Norwegian kroner Physical delivery Position Accountability 6,000 contracts CME Globex Electronic Markets: NOK Open Outcry: UNK Trading can occur in $ per Norwegian krone increments ($20.00 contract). Also, trades can occur in $ per Norwegian krone increments ($10.00/contract) for NOK/USD futures intra-currency spreads executed on the trading floor and electronically. Six months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 20

26 2015 FX Product Guide and Calendar NZD/USD 100,000 New Zealand dollars Physical delivery Position Accountability 6,000 contracts CME Globex Electronic Markets: 6N Open Outcry: NE Trading can occur in $.0001 per New Zealand dollar increments ($10.00/ contract). Also, trades can occur in $ per New Zealand dollar increments ($5.00/contract) for NZD/USD futures intra-currency spreads executed on the trading floor and electronically. Six months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 21

27 cmegroup.com/fx NZD/USD Options Quarterly and serial options: Open Outcry: NE; Globex: 6N Weekly options: 1Z-5Z Pricing Conventions and Calculating Cash Premiums A New Zealand dollar option price quoted as 0.60 is equivalent to 0.60 x 0.01 = when the price is quoted in full. The cash price of the option is x 100,000 (contract size) = $ $.0001 per New Zealand dollar = $10.00/contract; also, trades may occur at $ ($5.00), $ ($15.00), $ ($25.00), $ ($35.00) and $ ($45.00), which are less than five ticks of premium. Contract Listings Quarterly options: The first four months in the March quarterly cycle. Serial options: Two serial options are listed at any time. Their expirations precede that of the underlying futures contract by one and two months. For example, following the expiration of the March futures and options cycle, April and May serial options on the front June futures contract are still available for trading. Consequently, the serial option expirations fall in Jan, Feb, Apr, May, Jul, Aug, Oct and Nov. Weekly options: Four weekly options are listed at any time. Expiration/ Quarterly and serial options: Close of trading is on the second Friday immediately preceding the third Wednesday of the contract month. Weekly options: Close of trading is on the four nearest Fridays that are not also terminations for quarterly and serial options. 22

28 2015 FX Product Guide and Calendar SEK/USD 2,000,000 Swedish kronor Physical delivery Position Accountability 6,000 contracts CME Globex Electronic Markets: SEK Open Outcry: USK Trading can occur in $ per Swedish krona increments ($20.00/contract). Also, trades can occur in $ per Swedish krona increments ($10.00/contract) for SEK/USD futures intra-currency spreads executed on the trading floor and electronically. Six months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 23

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30 2015 FX Product Guide and Calendar CROSS RATES FX FUTURES AND OPTIONS CONTRACTS AUD/CAD 26 AUD/JPY 27 AUD/NZD 28 CAD/JPY 29 CHF/JPY 30 EUR/AUD 31 EUR/CAD 32 EUR/CHF 33 EUR/GBP 35 EUR/JPY 37 EUR/NOK 39 EUR/SEK 40 GBP/JPY 41 GBP/CHF 42 25

31 cmegroup.com/fx CROSS RATES FX FUTURES AND OPTIONS CONTRACTS AUD/CAD 200,000 Australian dollars Physical delivery Position Accountability 6,000 contracts CME Globex Electronic Markets: ACD Open Outcry: UAC Trading can occur in.0001 Canadian dollars per Australian dollar increments (20 Canadian dollars). Also, trades can occur in Canadian dollars per Australian dollar increments (10 Canadian dollars) for AUD/CAD futures intra-currency spreads executed on the trading floor and electronically. Six months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 26

32 2015 FX Product Guide and Calendar AUD/JPY 200,000 Australian dollars Physical delivery Position Accountability 6,000 contracts CME Globex Electronic Markets: AJY Open Outcry: UAY Trading can occur in.01 Japanese yen per Australian dollar increments (2,000 Japanese yen). Also, trades can occur in.005 Japanese yen per Australian dollar increments (1,000 Japanese yen) for AUD/JPY futures intra-currency spreads executed on the trading floor and electronically. Six months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 27

33 cmegroup.com/fx AUD/NZD 200,000 Australian dollars Physical delivery Position Accountability 6,000 contracts CME Globex Electronic Markets: ANE Open Outcry: UAN Trading can occur in.0001 New Zealand dollars per Australian dollar increments (20 New Zealand dollars). Also, trades can occur in New Zealand dollars per Australian dollar increments (10 New Zealand dollars) for AUD/NZD futures intra-currency spreads executed on the trading floor. Six months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 28

34 2015 FX Product Guide and Calendar CAD/JPY 200,000 Canadian dollars Physical delivery Position Accountability 6,000 contracts CME Globex Electronic Markets: CJY Open Outcry: UCY Trading can occur in.01 Japanese yen per Canadian dollar increments (2,000 Japanese yen). Also, trades can occur in.005 Japanese yen per Canadian dollar increments (1,000 Japanese yen) for CAD/JPY futures intra-currency spreads executed on the trading floor and electronically. Six months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 29

35 cmegroup.com/fx CHF/JPY 250,000 Swiss francs Physical delivery Position Accountability 6,000 contracts CME Globex Electronic Markets: SJY Open Outcry: USY Trading can occur in.005 Japanese yen per Swiss franc increments (1,250 Japanese yen). Also, trades can occur in.0025 Japanese yen per Swiss franc increments (625 Japanese yen) for CHF/JPY futures intra-currency spreads executed on the trading floor and electronically. Six months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 30

36 2015 FX Product Guide and Calendar EUR/AUD 125,000 euros Physical delivery Position Accountability 6,000 contracts CME Globex Electronic Markets: EAD Open Outcry: UEA Trading can occur in.0001 Australian dollars per euro increments (12.5 Australian dollars). Also, trades can occur in Australian dollars per euro increments (6.25 Australian dollars) for EUR/AUD futures intra-currency spreads executed on the trading floor and electronically. Six months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 31

37 cmegroup.com/fx EUR/CAD 125,000 euros Physical delivery Position Accountability 6,000 contracts CME Globex Electronic Markets: ECD Open Outcry: UEC Trading can occur in.0001 Canadian dollars per euro increments (12.5 Canadian dollars). Also, trades can occur in Canadian dollars per euro increments (6.25 Canadian dollars) for EUR/CAD futures intra-currency spreads executed on the trading floor and electronically. Six months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 32

38 2015 FX Product Guide and Calendar EUR/CHF 125,000 euros Physical delivery Position Accountability 6,000 contracts CME Globex Electronic Markets: RF Open Outcry: UA Trading can occur in.0001 Swiss francs per euro increments (12.5 Swiss francs). Also, trades can occur in Swiss francs per euro increments (6.25 Swiss francs) for EUR/CHF futures intra-currency spreads executed on the trading floor and electronically. Six months in the March quarterly cycle (Mar, Jun, Sep, Dec) Trading ceases at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month (usually Monday). 33

39 cmegroup.com/fx EUR/CHF Options Quarterly and serial options: RF Weekly options: 1I-5I Pricing Conventions and Calculating Cash Premiums A Euro FX/Swiss franc option price quoted as is already quoted in full. The cash price of the option is x 125,000 (contract size) = 3,062.5 Swiss francs Swiss francs per euro (12.5 Swiss francs); also, trades may occur at (6.25 Swiss francs), (18.75 Swiss francs), (31.25 Swiss francs), (43.75 Swiss francs) and (56.25 Swiss francs), which are less than five ticks of premium. Contract Listings Quarterly options: The first four months in the March quarterly cycle. Serial options: Two serial options are listed at any time. Their expirations precede that of the underlying futures contract by one and two months. For example, following the expiration of the March futures and options cycle, April and May serial options on the front June futures contract are still available for trading. Consequently, the serial option expirations fall in Jan, Feb, Apr, May, Jul, Aug, Oct and Nov. Weekly options: Four weekly options are listed at any time. Expiration/ Quarterly and serial options: Close of trading is on the second Friday immediately preceding the third Wednesday of the contract month. Weekly options: Close of trading is on the four nearest Fridays that are not also terminations for quarterly and serial options. 34

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