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ZAR/USD Weekly Friday Options - Contract Specs

Options
Contract Unit One futures contract for 500,000 South African rand
Minimum Price Fluctuation 0.000025 per South African rand increment = $12.50
Price Quotation U.S. dollars and cents per South African rand increment
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Default: 7:20 a.m. – 2:00 p.m. CT
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Product Code CME Globex: 1N,2N,3N,4N,5N
CME ClearPort: 1N,2N,3N,4N,5N
Open Outcry: 1N,2N,3N,4N,5N
Clearing: 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.
Settlement Method Deliverable
Underlying South African Rand Futures