About CME Euro FX/Swiss Franc Options

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 Euro FX/Swiss franc cross-rate futures and options on futures trading began in 1999. The futures contract size is 125,000 euro per contract. Trading can occur is .0001 Swiss francs per euro increments (12.5 Swiss francs). Also, trades can occur in 0.00005 Swiss francs per euro increments (6.25 Swiss francs) for CME Euro FX/ Swiss franc futures intra-currency spreads executed electronically or on the trading floor, and for All-or-None transactions.

Minimum price fluctuations in options on futures trading occur in .0001 Swiss francs per euro (12.5 Swiss francs); trades may also occur at .00005 increments (6.25 Swiss francs), .00015 (18.75 Swiss francs), .00025 (31.25 Swiss francs). Please see contract specifications for additional tick increments.