More than $250Bn of goods and services are exchanged between the US and Japan each year, providing a natural and liquid market for Japanese Yen futures. CME listed FX futures offer more precise risk management of JPY/USD exposure through firm pricing, convenient monthly and quarterly futures and weekly, monthly, and quarterly options, and flexibility to trade via a central limit order book, direct with blocks, or EFRPs.
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Features and benefits
Flexible and transparent market
See the same prices, quotes, trades as everyone else in the marketplace and make trades how you need to: central limit order book, blocks or Exchange for Physicals.
Nearly 24-hour access
Act as market-moving world news and events unfold.
Easily roll OTC Positions into futures
CME FX Link connects OTC FX and FX futures with one Globex spread, so you can add efficiency and better manage FX exposures.
$100B in daily notional FX liquidity, 3M in OI, and tight bid/ask spreads can help lower trading costs.
Capital, credit efficiencies of futures
Free up capital via lower margin requirements, futures leverage, shorter margin period of risk, margin offsets with other FX contracts.
Mitigate counterparty risk
All trades are backed by CME Clearing to mitigated counterparty credit risk, so you can trade with confidence.
Explore this product in depth
CME FX Link, the only central limit order book for FX swaps, is now available with committed cross functionality, helping you achieve greater capital and credit efficiencies.
Key economic reports and factors that move markets
The Japanese yen is often regarded as a “safe-haven” currency, providing stability when adverse risk events strike markets. Therefore, its price often fluctuates with the macroeconomic landscape – a factor made more complex with the US dollar’s role as the global reserve currency.
One of the most active central banks in the world, the Bank of Japan announcements concerning interest rates, quantitative easing, or – in the rare occurrence – direct currency intervention play a large role in its price relative to the US dollar.
Meets eight times a year on U.S. monetary policy and the key interest rate. Any change will impact the global macroeconomic landscape, including relative attractiveness of other countries’ currencies.
As the US’s fourth largest trading partner, a lot of capital flows naturally between the US and Japan. These flows can create a natural supply and demand for one currency over another.
Take self-guided courses on Japanese Yen futures and options products.
If you're new to futures, the courses below can help you quickly understand the Japanese Yen market and start trading.
Contact an FX expert
Connect with a member of our expert FX team for more information about our products.