Turkish Lira Futures

CME Group now offers TRY futures contracts, denominated in U.S. dollars (USD/TRY) as well as euros (EUR/TRY). With the addition of these two new products, CME Group FX is now a marketplace that offers trading on 20 currencies, 43 currency pairs and 33 options pairs. The USD/TRY futures contract expands our emerging market currency pair offering for customers and increase access to the Eurasia region.

Turkish lira pricing is typically not as tightly arbitraged as other currencies, and as such can present opportunities for profit. Since the introduction of the New Turkish Lira in 2004, the lira has seen unprecedented growth, even rising against the U.S. dollar and euro in recent years. With a growing industrial sector, Turkey has been repeatedly cited as a country with an emerging market for upcoming years.

Located between Europe and Asia, Turkey has historically been a gateway from east to west. While Turkey has been a European Union associate member since 1963, in 2005 the country began its accession into the European Union. In recent years, Turkey’s economy has made great strides, placing it in the same league with other prominent nations in the midst of industrialization, including Russia, China and Brazil.

About USD/TRY and EUR/TRY Futures

USD/TRY and EUR/TRY futures:

• Are distinct contracts designed to serve global customers by expanding liquidity in this growing currency.
• Will have different market makers providing quotes for each of the currency pairs.
• Will be listed exclusively on the CME Globex electronic trading platform.
• Will trade Monday through Friday, 5:00 p.m. to 4:00 p.m. the next day, Central Time; and Sunday, 3:00 p.m. to 4:00 p.m. the next day, Central Time on the CME Globex electronic trading platform.
• Will cease trading at 12:30 a.m. Central Time on the business day immediately preceding the third Wednesday of the contract month.
• Are valued, respectively, at 200,000 USD for USD/TRY contracts and 125,000 euros for EUR/TRY contracts.
• Have tick sizes of TRY 0.0001 per U.S. dollar and TRY .0001 per euro.
• Are physically delivered on the third Wednesday of the contract month, in the country of issuance at a bank designated by CME Clearing.

Turkish Lira fact card and Contract Specifications (PDF)
New Trading Opportunities from Emerging Markets (PDF)