The January 2015 BRL/USD futures and options termination of trading day is Tuesday, December 30, 2014 at 9:15 AM CT. The Central Bank of Brazil (Banco Central do Brasil) has confirmed that the end-of month spot “PTAX Rate” that it will publish on Tuesday, December 30, 2014, will be the same rate as determined and published on Wednesday, December 31, 2014. CME Group uses the reciprocal of the end-of-month “PTAX Rate” to cash settle expiring BRL/USD futures and options contracts.
The January 2015 BRL/USD contracts termination date enables the futures last trading date to coincide with the date of determination of the spot market rate used for final settlement. The final “PTAX Rate” for the month will be calculated based on trading activity for Tuesday, December 30 and since the Central Bank of Brazil will simply repeat publication of the same rate on Wednesday, December 31, according to our prior practice and current rules, termination of the expiring January 2015 BRL/USD contracts will be on Tuesday, December 30, 2014 at 9:15 AM CST.
If you have any questions, please contact Daniel Grombacher, Senior Director, Financial Research and Product Development, at (312) 634-1583, or Craig LeVeille, Executive Director, FX Products, at (312) 454-5301.