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GBP/USD Weekly Friday Volatility-Quoted Options - Contract Specs

Options
Contract Unit One futures contract for 62,500 British pounds
Minimum Price Fluctuation 0.01 per British pound increment
Price Quotation U.S. dollars and cents per British pound increment
Trading Hours 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)
Product Code CME Globex: VBA,VBB,VBC,VBD,VBE
Clearing: VBA,VBB,VBC,VBD,VBE
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 251A
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 British Pound Futures