30 DAY FEDERAL FUNDS - OVERVIEW

30-Day Fed Funds futures are one of the most widely used tools for hedging short-term interest rate risk. Fed Fund futures are a direct reflection of collective marketplace insight regarding the future course of the Federal Reserve’s monetary policy.

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Contract Unit

$4,167 x Contract IMM Index

Price Quotation

Contract IMM Index = 100 minus R

Product Code

CME Globex: ZQ
CME ClearPort: 41
Clearing: 41

Trading Hours

CME Globex:
5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT

Products

SOFR futures

As the leading source of liquidity on the Secured Overnight Financing Rate (SOFR), CME SOFR futures are increasingly relied upon for managing exposure to short-term funding markets. SOFR futures trade alongside Eurodollars and Fed Funds to offer seamless spread trading and margin offsets of up to 70%.

View the latest insights on trends in the Interest Rate futures and options market.

Courses

Take self-guided courses on Federal Fund futures and options products.

If you're new to futures, the courses below can help you quickly understand the Federal Fund market and start trading.

Contact an Interest Rate expert

Connect with a member of our expert Interest Rate team for more information about our products.

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