AUD/USD MONTHLY OPTIONS - CONTRACT SPECS

Contract Unit	One futures contract for 100,000 Australian dollars
Minimum Price Fluctuation	0.0001 per Australian dollar increment = $10.00 0.00005 per Australian dollar increment = $5.00 for premium below 0.0005.
Price Quotation	U.S. dollars and cents per Australian dollar 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
	Open Outcry:	Monday - Friday 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: 1AD,2AD,3AD,4AD,5AD CME ClearPort: 1AD,2AD,3AD,4AD,5AD Open Outcry: 1AD,2AD,3AD,4AD,5AD Clearing: 1AD,2AD,3AD,4AD,5AD
Listed Contracts	Weekly contracts listed for 4 consecutive weeks. No weekly contract listed the week of the quarterly or serial option expiration.
Settlement Procedures	Physical-Exercise into Futures
Termination Of Trading	Trading terminates at 9:00 a.m. CT on Friday of the contract week.
Position Limits	CME Position Limits
Exchange Rulebook	CME 255A
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	Australian Dollar Futures

Contract Unit	One futures contract for 100,000 Australian dollars
Minimum Price Fluctuation	0.0001 per Australian dollar increment = $10.00 0.00005 per Australian dollar increment = $5.00 for premium below 0.0005
Price Quotation	U.S dollars and cents per Austalian dollar 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
	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
	Open Outcry:	Monday - Friday 7:20 a.m. – 2:00 p.m. CT
Product Code	CME Globex: ADU CME ClearPort: ADU Open Outcry: ADU Clearing: ADU
Listed Contracts	Quarterly contracts (Mar, Jun, Sep, Dec) listed for 4 consecutive quarters and serial contracts listed for 8 months
Settlement Procedures	Physical-Exercise into Futures
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 255A
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	Australian Dollar Futures

Contract Unit	One futures contract for 100,000 Australian dollars
Minimum Price Fluctuation	0.0001 per Australian dollar increment = $10.00
Price Quotation	U.S. dollars and cents per Australian dollar increment
Trading Hours	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
Product Code	CME Globex: VAA,VAB,VAC,VAD,VAE Clearing: VAA,VAB,VAC,VAD,VAE
Listed Contracts	Weekly contracts listed for 4 consecutive weeks
Settlement Procedures	Physical-Exercise into Futures
Termination Of Trading	Trading terminates at 4:00 p.m. CT on Thursday of the contract week.
Position Limits	CME Position Limits
Exchange Rulebook	CME 255A
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	Australian Dollar Futures

Contract Unit	One futures contract for 100,000 Australian dollars
Minimum Price Fluctuation	0.01 per Australian dollar increment
Price Quotation	U.S. dollars and cents per Australian dollar increment
Trading Hours	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
Product Code	CME Globex: VXA Clearing: VXA
Listed Contracts	Four (4) months in the March quarterly cycle (Mar, Jun, Sep, Dec) plus eight (8) serial months.
Settlement Procedures	Physical-Exercise into Futures
Termination Of Trading	Trading terminates at 4:00 p.m. CT on the business day before the second Fridayprior to the third Wednesday of the contract month.
Position Limits	CME Position Limits
Exchange Rulebook	CME 255A
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	Australian Dollar Futures

Contract Unit	One futures contract for 100,000 Australian dollars
Minimum Price Fluctuation	0.0001 per Australian dollar increment = $10.00
Price Quotation	U.S. dollars and cents per Australian dollar increment
Trading Hours	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
Product Code	CME Globex: VA1,VA2,VA3,VA4,VA5 Clearing: VA1,VA2,VA3,VA4,VA5
Listed Contracts	Weekly contracts listed for 4 consecutive weeks
Settlement Procedures	Physical-Exercise into Futures
Termination Of Trading	Trading terminates at 4:00 p.m. CT on Tuesday of the contract week.
Position Limits	CME Position Limits
Exchange Rulebook	CME 255A
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	Australian Dollar Futures

Contract Unit	One futures contract for 100,000 Australian dollars
Minimum Price Fluctuation	0.0001 per Australian dollar increment = $10.00 0.00005 per Australian dollar increment = $5.00 for premium below 0.0005.
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
	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
	Open Outcry:	Monday - Friday 7:20 a.m. – 2:00 p.m. CT
Product Code	CME Globex: WA1,WA2,WA3,WA4,WA5 CME ClearPort: WA1,WA2,WA3,WA4,WA5 Open Outcry: WA1,WA2,WA3,WA4,WA5 Clearing: WA1,WA2,WA3,WA4,WA5
Listed Contracts	Weekly contracts listed for 4 consecutive weeks
Settlement Procedures	Physical-Exercise into Futures
Termination Of Trading	Trading terminates at 9:00 a.m. CT Wednesday of the contract week.
Position Limits	CME Position Limits
Exchange Rulebook	CME 255A
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	Australian Dollar Futures

Contract Unit	One futures contract for 100,000 Australian dollars
Minimum Price Fluctuation	0.0001 per Australian dollar increment = $10.00 0.00005 per Australian dollar increment = $5.00 for premium below 0.0005
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
	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
	Open Outcry:	Monday - Friday 7:20 a.m. - 02:00 p.m. (8:20 a.m. - 03:00 p.m. ET)
Product Code	CME Globex: MA1,MA2,MA3,MA4,MA5 CME ClearPort: MA1,MA2,MA3,MA4,MA5 Open Outcry: MA1,MA2,MA3,MA4,MA5 Clearing: MA1,MA2,MA3,MA4,MA5
Listed Contracts	Weekly contracts listed for 4 consecutive weeks
Settlement Procedures	Physical - exercise into futures
Termination Of Trading	Trading terminates at 9:00 a.m. CT on Monday of the contract week.
Position Limits	CME Position Limits
Exchange Rulebook	CME 255A
Block Minimum	Block Minimum Thresholds
Price Limit Or Circuit	Price Limits
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	+/- 8 strikes at 0.0025 interval plus an additional +/-8 strikes at 0.0050 interval
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	Australian Dollar Futures

Quick Links

Tools

Daily Reports and Settlements

Final Settlements

Product Related

CME ClearPort

FAQ: FX EFRP & Block Trades

Resources

CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs).
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

Markets Home

Market Data Home

Services Home

Education Home