Eurodollar
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Eurodollars are financial instruments representing deposits of U.S. dollars held in banks outside of the United States. The Eurodollar futures contract, traded primarily at CME Group, is based on those deposits and is often used as a means to take a view on Federal Reserve interest rate policies.
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Background
Eurodollar Futures and Options Contracts
Eurodollar futures was the world's first cash-settled futures contract, developed by Chicago Mercantile Exchange in 1981. Eurodollar futures and options are the most actively traded futures contracts in the world, the bulk of which is transacted on CME Group.
They also are offered for trading at SGX and on NYSE Euronext's LIFFE exchange in London.
