CME Group 30-Day Federal Funds

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30-Day Federal Fund futures
Exchange	CME Group
Settlement	Cash settled
Trade Unit	$5 million (Prices are quoted at 100 minus the average daily fed funds overnight rate for the delivery month (e.g. a 7.25 percent rate equals 92.75)
Point Value	Need point value!
Tick Value	$20.835 per 1/2 of one basis point (1/2 of 1/100 of one percent of $5 million on a 30-day basis rounded up to the nearest cent).
Contract Months	First 24 calendar months
Last Trading Day	Last business day of the delivery month. Trading in expiring contracts closes at 2:00 pm, Chicago time on the last trading day.(*)
	Open Outcry	Electronic
Trading Hours	7:20 am - 2:00 pm, Central Time, Monday - Friday	6:01 pm - 4:00 pm, Central Time, Sunday - Friday
Ticker Symbol	Open Auction: FF	ZQ
Price Limits	N/A	N/A

30-Day Federal Fund options
Trade Unit	One futures contract
Point Value	Need point value!
Tick Value	One-quarter of one basis point (0.0025 on a price basis of 100), or $10.4175 per contract
Option Months	First 24 calendar months
Strike Prices	Strike prices will be listed in integral multiples of 6.25 (.0625) basis points and 12.5 (.1250) basis points. At the commencement of trading, the following strikes in multiples of 6.25 basis points shall be listed: one with a strike price closest to the previous day's settlement price of the underlying CBOT® 30-Day Federal Funds futures contract (rounded to the nearest 12.5 basis points) and the next the next ten (10) consecutive higher and the next ten (10) consecutive lower strike prices closest to the previous day's settlement price. If a previous day's settlement price is midway between two strike prices, the closest price shall be the larger of the two. In addition, the following strike prices in multiples of 12.5 basis points shall be listed: the next five (5) consecutive higher and the next five (5) consecutive lower strike prices above and below the 6.25 basis point band.
Exercise Style	American exercise: The buyer of a futures option may exercise on any business day up to and including the day such option expires, by giving notice of exercise by 6:00 pm, Central Time, to CME Group clearing. All in-the-money options shall be automatically exercised after 6:00 pm on the business day following the last day of trading (*) unless notice to cancel automatic exercise is given to CME Group clearing.
Option Expiration Day	Unexercised options on 30-Day Fed Funds futures expire at 7:00 pm, Central Time, on the next business day following the last day of trading.
	Open Outcry	Electronic
Trading Hours	7:20 am - 2:00 pm, Chicago Time, Monday - Friday	6:02 pm - 4:00 pm, Chicago Time, Sunday - Friday
Ticker Symbol	FFC for calls / FFP for puts	OZQC for calls / OZQP for puts
Price Limits	N/A	N/A

Notes

(*)Last Trading Day: Options cease trading on the last business day of the underlying contract month. Options cease trading at the close of the regular daytime open auction trading session for the underlying 30-Day Fed futures contract.