ZAR/USD Monthly Options - Contract Specs

Contract Unit
One futures contract for 500,000 South African rand
Minimum Price Fluctuation
.00001 per South African rand increments = $5.00 per contract.
Price Quotation
U.S. dollars and cents per South African rand increment
Trading Hours
CME Globex:
Sunday 5:00 p.m. - Friday - 4:00 p.m. CT with a daily maintenance period from 4:00 p.m. - 5:00 p.m. CT
CME ClearPort:
Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. - 6:00 p.m. CT
Product Code
CME Globex: RO
CME ClearPort: RA
Clearing: RA
Listed Contracts
Monthly contracts listed for 12 consecutive months
Settlement Procedures
Option on physical delivery futures contract
Termination of Trading
Trading terminates at 9:00 a.m. CT on the second Friday prior to the third Wednesday of the contract month.
Position Limits
Exchange Rulebook
Block Minimum
Price Limit or Circuit
Vendor Codes
Strike Prices Strike Price Interval
Exercise Procedure
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
South African Rand/U.S. Dollar (ZAR/USD) Futures

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