GBP/USD MONTHLY OPTIONS - CONTRACT SPECS

Options
Contract Unit One futures contract for 62,500 British pounds
Minimum Price Fluctuation 0.0001 per British pound increment = $6.25
Price Quotation U.S. dollars and cents per British pound 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: GBU
CME ClearPort: GBU
Open Outcry: GBU
Clearing: GBU
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 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 251A
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures For front month (Quarterly, Serial and VQO options):
+/- 8 strikes at 0.0025 interval plus an additional +/-15 strikes at 0.0050 interval
For all other Quarterlies, Serials and VQO options):
+/- 10 strikes at 0.0050 interval plus an additional +/-15 strikes at 0.0100 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 British Pound Futures