About CME Australian Dollar/New Zealand Dollar Futures

Cross-rate futures provide a way for banks, corporations, money managers and individuals with the tools to manage the risks associated with currency rate fluctuation and to take advantage of profit opportunities stemming from changes in currency rates.

Cross-rate futures reflect the value of one currency in relation to another. CME® cross rate futures contracts are quoted as the minimum fluctuation currency per the trading unit currency, for example: Euro/Yen is quoted as yen per Euro, where the futures contract calls for delivery of 125,000 Euro (trading unit) and daily settlement variation is in yen (minimum fluctuation currency).

Currency cross-rate futures are physically delivered at expiration. Exercised options contracts are settled by the delivery of futures contracts.

CME Australian dollar/New Zealand dollar futures began trading 2002. The futures contract’s size is 200,000 Australian dollars per contract. Trading can occur in .0001 New Zealand dollars per Australian dollar increments (20 New Zealand dollars). Also, trades can occur in .00005 New Zealand dollars per Australian dollar increments (10 New Zealand dollars) for CME Australian dollar/New Zealand dollar futures intra-day currency spreads executed electronically or on the trading floor, and for All-or-None transactions.