30 Day Federal Funds
Futures and Options
30 Day Federal Funds 6 Month Midcurve Options - Contract Specs
| Contract Unit | One 30-Day Federal Funds Futures contract |
|---|---|
| Minimum Price Fluctuation | 1/4 of one basis point (0.0025) = $10.4175 |
| Price Quotation | U.S. dollars and cents per basis point |
| 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: ZQ6 CME ClearPort: FF6 Clearing: FF6 |
| Listed Contracts | Monthly contrats listed for 3 consecutive months |
| Termination of Trading | Trading terminates on the last business day of the contract month. |
| Position Limits | |
| Exchange Rulebook | |
| Block Minimum | |
| Price Limit or Circuit | |
| Vendor Codes | |
| Strike Prices Strike Price Interval | Strike prices will be listed in increments of 6.25 basis points (0.0625) and 12.5 basis points (0.1250). The following strike prices in increments of 6.25 basis points will be listed: the at-the-money strike price closest to the current futures price plus the next ten consecutive higher and the next ten consecutive lower strike prices. Above and below this band, the following strike prices in increments of 12.5 basis points shall be listed: the next five (5) consecutive higher and the next five (5) consecutive lower strike prices. |
| Exercise Style | American-style. The buyer of an option may exercise the option on any business day prior to expiration by giving notice to CME Clearing by 5:30 p.m., CT. Following the termination of trading of an option, no contrary option exercise instructions are permitted. All in-the-money options shall be automatically exercised and all out-of-the-money options shall be abandoned by CME Clearing on the day of expiration for the option. At-the-money options will be considered out-of-the-money. |
| Settlement Method | Deliverable |
| Underlying | 30-Day Federal Fund Futures |
