South African Rand/U.S. Dollar Futures

Expanding liquidity pool with the certainty of our clearing house

Key Macro Facts

South Africa is the 2nd largest economy in Africa and heavily dependent on commodity prices due to its role as a major exporter of minerals. Weak investor sentiment and policy uncertainty have seen a cut in South Africa’s growth forecast to 0.8%. Predictions of a potential junk credit rating have also negatively impacted the rand.

Key Stats

  • ZAR ADV of 4,033 in September 2019, up 28% YoY
  • Average OI YTD September 2019 of 18,751 up 61.1% vs YTD September 2018

Key Features

  • Liquidity is available on-screen or through a growing block market, which can be executed in trades greater than 50 lots.
  • There are several new end-user participants joining our marketplace – attracted by the credit and capital efficiencies of futures.

Key capital efficiencies and margin offsets

  • 35% savings with Brazilian Real (BRL/USD)
  • 30% savings with Australian Dollar (AUD/USD), Mexican Peso (MXN/USD), New Zealand Dollar (NZD/USD)
  • 26% savings with Canadian Dollar (CAD/USD)
  • 25% savings with Indian Rupee (INR/USD)
  • 50% savings with Norwegian Krone (NOK/USD) and 45% with Swedish Krone (SEK/USD)

CME Group ZAR/USD FX Futures

Be Part of the Trend and Trade 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:

55 futures, 24 options, 26 CSFs and 12 NDFs.

Get Connected to the World’s Largest Regulated FX Marketplace

$100 billion of daily FX volume and the firm liquidity you need to manage FX risk, from rand to real.

Contract Specs

Contract Unit 500,000 South African rand
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
Minimum Price Fluctuation $.000025 per South African rand increments ($12.50/contract).
Product Code CME Globex: 6Z
CME ClearPort: RA
Clearing: RA
Listed Contracts Thirteen consecutive calendar months plus two-deferred March quarterly cycle months
Settlement Method Deliverable
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).
Settlement Procedures ZAR/USD Futures Settlement Procedures
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

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