About CME Norwegian Krone Futures

CME® Norwegian krone futures provide financial institutions, investment managers, corporations and private investors with a way manage the risks associated with currency rate fluctuation and to take advantage of profit opportunities stemming from changes in currency rates.

Krone is the name of the currency used in Norway. The plural form is kroner and one krone is divided in to 100 øre, singular and plural. The krone, which in English means “crown,” became the legal tender in Norway in 1875 when the country was part of the Scandinavian Monetary Union. When the Union dissolved around the time of the World War I, Denmark, Norway, Sweden and Denmark decided to all keep the name of their respective and now separate currencies.

CME Norwegian krone futures contracts were offered in 2002. Currently CME offers markets for trading CME Norwegian krone futures on CME Globex® as well as on its trading floor. CME Norwegian krone futures are designed to reflect changes in the U.S. dollar value of the Norwegian krone.

Futures contracts are quoted in U.S. dollars per krone, and call for physical delivery at expiration. Physical delivery takes place on the third Wednesday of the contract month, in the country of issuance at a bank designated by the CME Clearing House.

The contract’s size is 2,000,000 Norwegian kronor per contract. Trading occurs in $.00001 per Norwegian krone increments, or $20.00 per contract. CME Norwegian krone futures trading may also occur in $.000005 per Norwegian krone increments, equaling $10.00 per contract for futures intra-day currency spreads executed on the trading floor and electronically, and for All-or-None transactions.

CME Norwegian krone futures trade six months in the March quarterly cycle, Mar, Jun, Sep, Dec.; and also trade contracts in CME Euro FX/Norwegian krone as part of cross rate currency futures. CME does not trade Norwegian krone options on futures at this time.