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BRL/USD Options
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Type
 
BRL/USD Options
Contract Size One futures contract for 100,000 Brazilian reals
Contract Month Listings Twelve consecutive contract months, 4 weekly
Daily Settlement Procedure To reduce basis risk between the CME Brazilian real/U.S. dollar futures & options and the BM&FBOVESPA U.S. dollar/Brazilian real futures & options contracts, CME Settlements Team will determine the daily settlement prices at 4:00 PM Sao Paulo time each day.2
Final Settlement Procedure Option on cash-settled futures contract
Position Limits 24,000 futures-equivalent contracts in a single month; 40,000 futures-equivalent contracts in all months combined**
Ticker Symbol Monthly options: BR
Weekly options: 1R-5R
AON Code: LZK

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Minimum Price Fluctuation (Tick) $.00005 per Brazilian real increments ($5.00/contract).
Trading Hours OPEN OUTCRY (RTH) 7:20 a.m.-2:00 p.m.
GLOBEX (ETH) Sundays: 5:00 p.m. – 4:00 p.m. Central Time (CT) next day. Monday – Friday: 5:00 p.m. – 4:00 p.m. CT the next day, except on Friday - closes at 4:00 p.m. and reopens Sunday at 5:00 p.m. CT.
CME ClearPort Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45–minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Last Trade Date / Time

View calendar		 Monthly options: On the last business day of the month, at 9:15 a.m. CT, immediately preceding the contract month, on which the Central Bank of Brazil is scheduled to publish its final end-of-month (EOM), "Commercial exchange rate for Brazilian reals per U.S. dollar for cash delivery" (PTAX rate).

Weekly Options: Close of trading is on the four nearest Fridays that are not also terminations for monthly options. Same time as determination of daily settlement prices.2
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CME.
Block Trade Eligibility Yes. View more on Block Trade eligible contracts.
Block Trade Minimum 250 Contracts
EFRP Eligibility Yes. View more on EFRPs.
**Position Limits: Size of position may not exceed the indicated numbers of contract, i.e., a finite limit.

2 Please note that daily settlement prices will be determined at 4:00 PM Sao Paulo time, which is either 2:00 PM or 1:00 PM or 12:00 noon Central Time depending upon relative implementation dates of Daylight Saving Time in both the U.S. and Brazil. CME publishes an annual schedule of the times for daily CME Brazilian real/U.S. dollar futures settlement prices. View times for daily BRL/USD futures settlement prices.