What are the characteristics of foreign exchange futures contracts?
Foreign exchange futures contracts are traded in the commodity exchange, and both parties trade on a certain date in the future through open bidding. What are the characteristics of foreign exchange futures contracts? Quickly follow the pace of small make-up to understand and understand it~
First, the trading unit of foreign exchange futures contracts. Each foreign exchange futures contract is regulated by the exchange. For example, the trading unit of Deutsche Mark futures contract is 125000 mark per contract;
Second, delivery month. The delivery months of all foreign exchange futures contracts in the international money market are the same, namely March, June, September and December of each year. The third Wednesday of the delivery month is the delivery date of that month;
Third, general code. In operation, the exchange, the futures commission merchants and the futures market tables all use codes to indicate foreign exchange futures. The common codes of foreign exchange futures of eight major currencies are British pound BP, Canadian dollar CD, Dutch guilder DG, German mark DM, Japanese yen JY, Mexican Peso MP, Swiss Franc SF and French franc fr;
Fourth, the minimum price fluctuation range. The international money market stipulates the minimum fluctuation range of each foreign exchange futures quotation. In a trading floor, a broker's bid or bid can only be a multiple of the minimum volatility. The minimum volatility of eight major foreign exchange futures contracts is as follows: pound 0.0005, Canadian dollar 0.0001, Dutch guilder 0.0001, German mark 0.0001, Japanese yen 0.0000001, Mexican Peso 0.00001, Swiss Franc 0.0001 and French franc 0.00005;
Fifth, daily limit. The daily limit is the maximum fluctuation of a futures contract over or below the settlement price of the previous trading day within a day. The price limits of eight kinds of foreign exchange futures contracts are as follows: Mark 1250, Japanese yen 1250, Swiss Franc 1875, Mexican Peso 1500, Dutch guilder 1250 and French franc 1250. Once the quotation exceeds the limit, the transaction is invalid.
The above is about the characteristics of foreign exchange futures contracts, I believe you have a certain understanding.
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