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.
$4,167 x Contract IMM Index
Contract IMM Index = 100 minus R
CME Globex: ZQ
CME ClearPort: 41
5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT
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%.
If you're new to futures, the courses below can help you quickly understand the Federal Fund market and start trading.
Connect with a member of our expert Interest Rate team for more information about our products.