About CME E-mini Japanese Yen Futures

CME® E-mini® Japanese yen futures are designed to reflect changes in the U.S. dollar value of the yen. Sized at just half of the CME Japanese yen futures contract—6,250,000 Japanese yen—the contract trades exclusively on CME Globex®. CME Globex allows traders to participate in the fast-paced $1.5 trillion 24-hour-a-day foreign exchange market online.

Yen is the currency used in Japan and is pronounced “en.” It was introduced by the Meiji government’s New Currency Act of 1871 as a system resembling those of Europe. As part of the act,a decimal accounting system of yen was adoptedwith the coins being round and cast as in the West. As of July 2004 there were about 110 ($.009090/yen) to the U.S. dollar.

CME E-mini Japanese yen futures provide financial institutions, investment managers, corporations and private investors 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.

CME E-mini Japanese yen futures began trading in 1999 exclusively on CME Globex. The contract’s size is 6,250,000 Japanese yen per contract. Trading occurs in $.000001 per Japanese yen increments, or $6.25 per contract. Calendar spreads may trade in $.0000005 per Japanese yen increments, equaling $3.125 per contract.

CME E-mini Japanese yen futures contracts trade two months in the March quarterly cycle, March, June, September and December.