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Access and filter an archive of recent and historical notices for every aspect of trading at CME Group, including Clearing advisories.

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Now available: Excell with Options Report

Get actionable insights on how to trade the latest opportunities using options on futures, provided by a veteran institutional trader who successfully managed multi-billion-dollar portfolios.

New to Futures?

Learn why traders use futures, how to trade futures, and what steps you should take to get started.

30-Day Fed Funds futures and options are one of the most widely used tools for hedging short-term interest rate risk. Fed Fund futures are a direct reflection of collective marketplace insight regarding the future course of the Federal Reserve’s monetary policy.

Latest Interest Rates news

Features and benefits

Highly liquid

Gain access to deep liquidity and manage risk or express a view on changes in Fed monetary policy.

Market indicator

Fed Fund futures provide a gauge of market expectations about the Fed’s action at future FOMC meetings.

Efficient markets

Trade in transparent markets with low transaction costs, daily mark-to-markets and virtual elimination of counterparty credit risk.

Spread opportunities

Create spreads against other short-term interest rate contracts in the CME Group suite of interest rate products, including Eurodollar and SOFR futures.

Explore this product in depth

Products

Efficient hedging for euro overnight rates

Now trading: Euro Short-Term Rate (€STR) futures can provide a liquid, capital efficient, and off-balance sheet tool for hedging European overnight money markets.

Learn more

T-BILL FUTURES PRECISE EXPOSURE AT THE SHORT END OF THE CURVE, COMING OCTOBER 2*
*pending regulatory review

Fed Fund resources

A Practitioner's Guide to STIR Contract Amendments

Get an overview of the contract amendments made to Eurodollar futures and 30-Day Federal Funds futures effective, November 17, 2018

Read more

30-Day Fed Funds Settlement

View the latest final settlement price and implied average daily effective federal funds rate.

Read more

Introduction to CME FedWatch

Gain a better understanding of the CME FedWatch tool, which uses 30-Day Fed Fund futures prices to gauge the probability of an upcoming rate hike.

Learn more

Using the Fed Dot Plot to Inform Your Strategies

Paired with Fed Fund futures pricing, the Fed "Dot Plot" can offer valuable insights for trading.

Learn more

Related information

Short-Term Interest Rate Inter-Commodity Spreads (ICS)

CME Globex listed STIR ICS offer efficient execution of a common trading strategy, reduced leg risk on executions and formation of spread liquidity.

STIR Analytics Tool

Analyze the spread between Eurodollar futures and Fed Fund futures over time - from one week to one year.

Market Commentary

View the latest insights on trends in the Interest Rate futures and options market.

Courses

Take self-guided courses on Federal Fund futures and options products.

If you're new to futures, the courses below can help you quickly understand the Federal Fund market and start trading.

Explore more courses

Contact an Interest Rate expert

Connect with a member of our expert Interest Rate team for more information about our products.

FedWatch

Explore probabilities for FOMC rate moves, compare target ranges or view historical rate data.

Treasury Analytics

Analyze deliverable baskets, CTD/OTR securities, futures/cash yield curves, inter-commodity spreads, and more.

TreasuryWatch

Gain an in-depth view into the US Treasury market, including yields, volatility, auctions, coupon issuance projections, and more.

STIR Analytics

View historical fixings for EFFR and SOFR, and analyze basis spreads between Eurodollar, Fed Fund, and SOFR futures.

Total Cost Analysis

Analyze the all-in costs of managing interest rate exposure using listed futures versus over-the-counter (OTC) instruments like swaps.

SOFRWatch

Visualize the potential impacts of FOMC decisions on SOFR expectations.

Looking for more? Explore our additional resources

Resources
Margins
Daily Settlements
Final Settlements
Rulebooks
Expiration calendar
Bloomberg codes
Globex Reference Sheet
Block rules & minimums
Liquidity providers
Rates Recap

T-BILL FUTURES
PRECISE EXPOSURE AT THE SHORT END OF THE CURVE

FedWatch

Explore probabilities for FOMC rate moves, compare target ranges or view historical rate data.

Treasury Analytics

Analyze deliverable baskets, CTD/OTR securities, futures/cash yield curves, inter-commodity spreads, and more.

TreasuryWatch

Gain an in-depth view into the US Treasury market, including yields, volatility, auctions, coupon issuance projections, and more.

STIR Analytics

View historical fixings for EFFR and SOFR, and analyze basis spreads between Eurodollar, Fed Fund, and SOFR futures.

Total Cost Analysis

Analyze the all-in costs of managing interest rate exposure using listed futures versus over-the-counter (OTC) instruments like swaps.

SOFRWatch

Visualize the potential impacts of FOMC decisions on SOFR expectations.

Looking for more? Explore our additional resources

Resources
Margins
Daily Settlements
Final Settlements
Rulebooks
Expiration calendar
Bloomberg codes
Globex Reference Sheet
Block rules & minimums
Liquidity providers
Rates Recap

T-BILL FUTURES
PRECISE EXPOSURE AT THE SHORT END OF THE CURVE

FedWatch

Explore probabilities for FOMC rate moves, compare target ranges or view historical rate data.

Treasury Analytics

Analyze deliverable baskets, CTD/OTR securities, futures/cash yield curves, inter-commodity spreads, and more.

TreasuryWatch

Gain an in-depth view into the US Treasury market, including yields, volatility, auctions, coupon issuance projections, and more.

STIR Analytics

View historical fixings for EFFR and SOFR, and analyze basis spreads between Eurodollar, Fed Fund, and SOFR futures.

Total Cost Analysis

Analyze the all-in costs of managing interest rate exposure using listed futures versus over-the-counter (OTC) instruments like swaps.

SOFRWatch

Visualize the potential impacts of FOMC decisions on SOFR expectations.

Looking for more? Explore our additional resources

Resources
Margins
Daily Settlements
Final Settlements
Rulebooks
Expiration calendar
Bloomberg codes
Globex Reference Sheet
Block rules & minimums
Liquidity providers
Rates Recap

T-BILL FUTURES
PRECISE EXPOSURE AT THE SHORT END OF THE CURVE

FedWatch

Explore probabilities for FOMC rate moves, compare target ranges or view historical rate data.

Treasury Analytics

Analyze deliverable baskets, CTD/OTR securities, futures/cash yield curves, inter-commodity spreads, and more.

TreasuryWatch

Gain an in-depth view into the US Treasury market, including yields, volatility, auctions, coupon issuance projections, and more.

STIR Analytics

View historical fixings for EFFR and SOFR, and analyze basis spreads between Eurodollar, Fed Fund, and SOFR futures.

Total Cost Analysis

Analyze the all-in costs of managing interest rate exposure using listed futures versus over-the-counter (OTC) instruments like swaps.

SOFRWatch

Visualize the potential impacts of FOMC decisions on SOFR expectations.

Looking for more? Explore our additional resources

Resources
Margins
Daily Settlements
Final Settlements
Rulebooks
Expiration calendar
Bloomberg codes
Globex Reference Sheet
Block rules & minimums
Liquidity providers
Rates Recap

T-BILL FUTURES
PRECISE EXPOSURE AT THE SHORT END OF THE CURVE

FedWatch

Explore probabilities for FOMC rate moves, compare target ranges or view historical rate data.

Treasury Analytics

Analyze deliverable baskets, CTD/OTR securities, futures/cash yield curves, inter-commodity spreads, and more.

TreasuryWatch

Gain an in-depth view into the US Treasury market, including yields, volatility, auctions, coupon issuance projections, and more.

STIR Analytics

View historical fixings for EFFR and SOFR, and analyze basis spreads between Eurodollar, Fed Fund, and SOFR futures.

Total Cost Analysis

Analyze the all-in costs of managing interest rate exposure using listed futures versus over-the-counter (OTC) instruments like swaps.

SOFRWatch

Visualize the potential impacts of FOMC decisions on SOFR expectations.

Looking for more? Explore our additional resources

Resources
Margins
Daily Settlements
Final Settlements
Rulebooks
Expiration calendar
Bloomberg codes
Globex Reference Sheet
Block rules & minimums
Liquidity providers
Rates Recap

T-BILL FUTURES
PRECISE EXPOSURE AT THE SHORT END OF THE CURVE

FedWatch

Explore probabilities for FOMC rate moves, compare target ranges or view historical rate data.

Treasury Analytics

Analyze deliverable baskets, CTD/OTR securities, futures/cash yield curves, inter-commodity spreads, and more.

TreasuryWatch

Gain an in-depth view into the US Treasury market, including yields, volatility, auctions, coupon issuance projections, and more.

STIR Analytics

View historical fixings for EFFR and SOFR, and analyze basis spreads between Eurodollar, Fed Fund, and SOFR futures.

Total Cost Analysis

Analyze the all-in costs of managing interest rate exposure using listed futures versus over-the-counter (OTC) instruments like swaps.

SOFRWatch

Visualize the potential impacts of FOMC decisions on SOFR expectations.

Looking for more? Explore our additional resources

Resources
Margins
Daily Settlements
Final Settlements
Rulebooks
Expiration calendar
Bloomberg codes
Globex Reference Sheet
Block rules & minimums
Liquidity providers
Rates Recap

T-BILL FUTURES
PRECISE EXPOSURE AT THE SHORT END OF THE CURVE

FedWatch

Explore probabilities for FOMC rate moves, compare target ranges or view historical rate data.

Treasury Analytics

Analyze deliverable baskets, CTD/OTR securities, futures/cash yield curves, inter-commodity spreads, and more.

TreasuryWatch

Gain an in-depth view into the US Treasury market, including yields, volatility, auctions, coupon issuance projections, and more.

STIR Analytics

View historical fixings for EFFR and SOFR, and analyze basis spreads between Eurodollar, Fed Fund, and SOFR futures.

Total Cost Analysis

Analyze the all-in costs of managing interest rate exposure using listed futures versus over-the-counter (OTC) instruments like swaps.

SOFRWatch

Visualize the potential impacts of FOMC decisions on SOFR expectations.

Looking for more? Explore our additional resources

Resources
Margins
Daily Settlements
Final Settlements
Rulebooks
Expiration calendar
Bloomberg codes
Globex Reference Sheet
Block rules & minimums
Liquidity providers
Rates Recap

T-BILL FUTURES
PRECISE EXPOSURE AT THE SHORT END OF THE CURVE

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