ZAR/USD Weekly Friday Options Contract Specs

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 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET)
	CME ClearPort:	Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET)
	Open Outcry:	7:20 a.m. – 2:00 p.m. Central Time (CT)
Product Code	CME Globex: RO CME ClearPort: RA Open Outcry: RO Clearing: RA
Listed Contracts	Monthly contracts listed for 12 consecutive months
Settlement Procedures	Option on physical delivery futures contract
Termination Of Trading	Trading terminates at 9:00 a.m. CT on the second Friday prior to the third Wednesday of the contract month.
Position Limits	CME Position Limits
Exchange Rulebook	CME 259
Block Minimum	Block Minimum Thresholds
Price Limit Or Circuit	Price Limits
Vendor Codes	Quote Vendor Symbols Listing
Exercise Procedure	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

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

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