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Contract History 

If you are interested in trading Euro futures it is helpful to become familiar with the history of the Euro market. CME Euro FX futures and options on futures offer financial institutions, investment managers, corporations and private investors ways manage the risks associated with currency rate fluctuation and to take advantage of profit opportunities stemming from changes in currency rates.

The CME Euro FX contract is based on the euro, the European currency traded by the world's largest governments, banks and currency traders. CME offers trading markets for Euro FX futures and options on futures on CME Globex as well as on its trading floor. CME Euro FX cross-rate futures and options on futures contracts reflect the value of the euro in relation to the Australian dollar, British pound, Canadian dollar, the Japanese yen, Norwegian krone, Swedish krona and the Swiss franc.

CME Euro FX cross-rate futures contracts are quoted as the counter-currency, such as the British pound, per euro and are physically delivered at expiration. Physical delivery takes place on the third Wednesday of the contract month in the country of issuance by a bank that is designated by the Clearing House. Exercised options contracts are settled by the delivery of futures contracts.

The CME Euro FX contract size is 125,000 Euro. CME Euro FX moves in 1 point or $.0001 per Euro increments, which equals $12.50 per contract. Trading may also occur in $.00005 per Euro increments, or $6.25 per contract, for CME Euro FX futures intra-currency spreads executed on the trading floor and electronically, and for All-or-None transactions.

CME Euro FX futures contracts trade six months in the March quarterly cycle, Mar, Jun, Sep, Dec; Options on futures contacts trade four months in the March cycle, Mar, Jun, Sep, Dec and two months not in the March cycle (serial months), plus 4 weekly expirations.

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