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A Block Trade is a privately negotiated futures transaction executed apart from the
public auction market, either on or off the Exchange trading floor. There are minimum order size
requirements that vary according to product and order type, and eligibility for engaging in such
trades is strictly regulated. Block Trades can only be negotiated with futures or options on
futures trades; they can not include basis trades.
Block Trades are not the same as All-or-None (AON) or Exchange for Physical (EFP)
trades. Interest rate, foreign exchange (FX), index (except for E-mini(TM) stock index and E-mini
FX products) and weather futures contracts are eligible for block transactions. Further
information about Block Trading can be found in
Block Trading Step by Step
(PDF). To download a Block Trade Reporting form and to view guidelines for reporting Block
Trades, see
Block Trade Reporting. For
answers to the most frequently asked questions, please see the
Block Trade FAQ (PDF).
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Products
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Futures
|
Options
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Flex Options
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| Eurodollars executed between the hours of 7:00
a.m. to 4:00 p.m. Mondays - Fridays on Regular Business Days |
4,000 contracts - or 1,000 contracts provided that a
minimum of 1,000 contracts are transacted in yrs 6-10 |
4,000 contracts in outright trade; or 4,000 of at
least one leg in a combination trade |
Not available |
| Eurodollars executed during all hours outside of
7:00 a.m. to 4:00 p.m. Mondays - Fridays on Regular Business Days |
500 contracts |
500 contracts |
Not available |
| Eurodollar 5-Year E-Mini Bundles executed
between the hours of 7:00 a.m. to 4:00 p.m. Mondays - Fridays on Regular Business Days |
2,000 contracts |
Not available |
Not available |
| Eurodollar 5-Year E-Mini Bundles executed
during all hours outside of 7:00 a.m. to 4:00 p.m. Mondays - Fridays on Regular Business Days |
250 contracts |
Not available |
Not available |
| Eurodollar E-Mini Futures executed between
the hours of 7:00 a.m. to 4:00 p.m. Mondays - Fridays on Regular Business Days |
40,000 contracts |
Not available |
Not available |
| Eurodollar E-Mini Futures executed during
all hours outside of 7:00 a.m. to 4:00 p.m. Mondays - Fridays on Regular Business Days |
5,000 contracts |
Not available |
Not available |
| 2-, 5- and 10-year Swap Rates executed between
the hours of 6:00 a.m. - 4:00 p.m. Monday - Friday on Regular Business Days |
500 contracts |
Not available |
Not available |
| 2-, 5- and 10-year Swap Rates executed outside
6:00 a.m. - 4:00 p.m. Monday - Friday on Regular Business Days |
100 contracts |
Not available |
Not available |
| T-Bills |
100 contracts |
100 contracts |
Not available |
| Euroyen |
200 contracts |
200 contracts |
Not available |
| One-Month Libor |
400 contracts |
400 contracts |
Not available |
| Credit Index Event |
10 contracts |
10 contracts |
10 contracts |
| Lehman Brothers U.S. Aggregate Index |
50 contracts |
Not available |
Not available |
| Consumer Price Index (CPI) and Eurozone
Harmonized Index of Consumer Prices (HICP) |
50 contracts |
Not available |
Not available |
| S&P 500
®* |
Not available |
250 contracts |
250 contracts |
| NASDAQ-100
®* |
200 contracts - outrights only |
100 contracts |
100 contracts |
| E-mini Russell 1000
®, E-mini NASDAQ Composite Index
®, S&P SmallCap 600, E-mini S&P Asia 50
®, E-mini MSCI EAFE
® |
50 contracts |
Not available |
Not available |
| TRAKRS
® Indexes |
100,000
contracts |
Not available |
Not available |
| S&P
® Technology SPCTR
®, S&P Financial SPCTR |
200 contracts |
Not available |
Not available |
| S&P MidCap 400
TM
*, Russell 2000
®*,
S&P 500/Citigroup Growth, S&P 500/Citigroup Value, Nikkei
® 225 |
50 contracts |
250 contracts |
250 contracts |
| Goldman Sachs Commodity Index (GSCI
®), GSCI Excess Return Index |
50 contracts outright - 300 contracts for each leg
of a spread transaction |
Not available |
Not available |
| Currencies including Euro FX*, Japanese Yen*,
Swiss Franc, British Pound, Canadian Dollar, Mexican Peso, Australian Dollar, Brazilian Real, New
Zealand Dollar, Russian Ruble, South African Rand, Euro FX/British pound, Euro FX/Japanese yen,
Euro FX/Swiss franc, CME$INDEX
TM, Israeli shekel, Chinese renminbi, Chinese renminbi/Euro, Chinese renminbi/Japanese
yen and Korean won |
25 contracts - must be executed as a combination
trade with foreign exchange options |
250 contracts |
Not available |
| Weather |
20 contracts |
20 contracts |
Not available |
| Wood Pulp |
25 contracts |
25 contracts |
Not available |
| Housing, S&P/GRA Commercial Real Estate
Indices |
20 contracts |
20 contracts |
Not available |
*NOT applicable to E-mini equity indexes except the E-mini NASDAQ Composite
Index or E-mini FX.
Benefits
- Ease of a privately negotiated trade.
- Convenience of negotiating a trade with a designated and appropriate counter
party.
- Offers greatest possible latitude in executing a Eurodollar future or option
transaction.
- Security of a trade cleared by the CME® Clearing House.
- Designed to assist institutional trading needs.
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