|Contract Unit||One futures contract for 500,000 South African rand|
|Minimum Price Fluctuation||.00001 per South African rand increments = $5.00 per contract.|
|Price Quotation||U.S. dollars and cents per South African rand increment|
|Trading Hours||CME Globex:||Sunday 5:00 p.m. - Friday - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT||Default:||7:20 a.m. – 2:00 p.m. CT||CME ClearPort:||Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT|
|Product Code||CME Globex: 1N,2N,3N,4N,5NCME ClearPort: 1N,2N,3N,4N,5NOpen Outcry: 1N,2N,3N,4N,5NClearing: 1N,2N,3N,4N,5N|
|Listed Contracts||Weekly contracts listed for 4 consecutive weeks. No weekly contract listed the week of the monthly option expiration.|
|Settlement Procedures||Option on physical delivery futures contracts|
|Termination Of Trading||Trading terminates at 9:00 a.m. CT on Friday of the contracct week.|
|Position Limits||5,000 futures-equivalent contracts for Spot month
6,000 futures-equivalent contract
|Block Minimum||Block Minimum Thresholds|
|Price Limit Or Circuit||Price Limits|
|Vendor Codes||Quote Vendor Symbols Listing|
|Exercise Style||European style. Auto-exercised against CME Group FX Fixing Price; no contrary instructions allowed.
In-the-money (ITM) strikes exercised. Out-of-the-money (OTM) strikes abandoned.
An option is ITM if the CME Group FX Fixing Price for the underlying futures contract is equal to or above the strike price in the case of a call or below the strike price in the case of a put.
|Underlying||South African Rand/U.S. Dollar (ZAR/USD) Futures|