In response to credit challenges in the forwards market, and the beneficial capital efficiencies available in the futures market, more and more market participants are choosing futures to manage their FX risk and capitalize on the certainty of our marketplace.
This trend is seen with the growth in our South African Rand futures (ZAR/USD) contract where open interest is now 10 times September 2016 levels at $1.2 billion.
There are several new participants joining our marketplace – notably members of the bank and buy-side communities. Strong liquidity is available on-screen or through a growing block market, which can be executed in trades greater than 50 lots.
Globex: 6Z Bloomberg: RAA Curncy Reuters: 0#RASS:
Bringing together market participants and their liquidity, from pension funds to banks, from hedge funds to corporates, from more than 150 countries nearly 24 hours a day, ready for market-impacting events
Choose a block or an EFP where you can still privately negotiate your trades, but submit them directly into our clearing systems to free up credit lines and mitigate bilateral exposure – whether you are trading in South Africa or anywhere else in the world.
Through position-netting and by utilizing the capital and margin efficiencies of cleared and listed FX:
91 futures, 24 options, 26 CSFs and 12 NDFs.
$85 billion of daily FX volume and the firm liquidity you need to manage FX risk, from rand to real.
|Contract Unit||500,000 South African rand|
|Minimum Price Fluctuation||$.000025 per South African rand increments ($12.50/contract).|
|Trading Hours||CME Globex:||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 5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT|
|Product Code||CME Globex: 6ZCME ClearPort: RAClearing: RA|
|Listed Contracts||Thirteen consecutive calendar months plus two-deferred March quarterly cycle months|
|Settlement Procedures||ZAR/USD Futures Settlement Procedures|
|Termination Of Trading||9:16 a.m. Central Time (CT) on the second business day immediately preceding the third Wednesday of the contract month (usually Monday).|
|Position Limits||CME Position Limits|
|Exchange Rulebook||CME 259|
|Block Minimum||Block Minimum Thresholds|
|Price Limit Or Circuit||Price Limits|
|Vendor Codes||Quote Vendor Symbols Listing|
|Strike Price Listing Procedures||-|