South African Rand/U.S. Dollar Futures

In response to credit challenges in the forwards market, and the beneficial capital efficiencies available in the futures market, more and more market participants are choosing futures to manage their FX risk and capitalize on the certainty of our marketplace.

This trend is seen with the growth in our South African Rand futures (ZAR/USD) contract where open interest is now 10 times September 2016 levels at $1.2 billion.

There are several new participants joining our marketplace – notably members of the bank and buy-side communities. Strong liquidity is available on-screen or through a growing block market, which can be executed in trades greater than 50 lots.

Be Part of the Trend and Trade Cash-Settled South African Rand Futures at CME Group

Available Now on the Platform You Want

Globex: 6Z Bloomberg: RAA Curncy Reuters: 0#RASS:

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Bringing together market participants and their liquidity, from pension funds to banks, from hedge funds to corporates, from more than 150 countries nearly 24 hours a day, ready for market-impacting events

Transact with Flexibility

Choose a block or an EFP where you can still privately negotiate your trades, but submit them directly into our clearing systems to free up credit lines and mitigate bilateral exposure – whether you are trading in South Africa or anywhere else in the world.

Reduce Risk and Manage Uncleared Margin Rule Changes

Through position-netting and by utilizing the capital and margin efficiencies of cleared and listed FX:
91 futures, 24 options, 26 CSFs and 12 NDFs.

Get Connected to the World’s Largest Regulated FX Marketplace

$85 billion of daily FX volume and the firm liquidity you need to manage FX risk, from rand to real.

CME Group ZAR/USD FX Futures

Contract Specs

Contract Unit 500,000 South African rand
Minimum Price Fluctuation $.000025 per South African rand increments ($12.50/contract).
Trading Hours CME Globex: Sundays: 5:00 p.m. – 4:00 p.m. Central Time (CT) next day. Monday – Friday: 5:00 p.m. – 4:00 p.m. CT the next day, except on Friday – closes at 4:00 p.m. and reopens Sunday at 5:00 p.m. CT.
CME ClearPort: Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT
Product Code CME Globex: 6Z
CME ClearPort: RA
Clearing: RA
Listed Contracts Thirteen consecutive calendar months plus two-deferred March quarterly cycle months
Settlement Procedures ZAR/USD Futures Settlement Procedures
Termination Of Trading 9:16 a.m. Central Time (CT) on the second business day immediately preceding the third Wednesday of the contract month (usually Monday).
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
Settlement Method Deliverable