CME Group South African Rand

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South African Rand Futures
Contract Unit 500,000 South African rand
Trading Hours CME Globex: Sundays: 5:00 p.m. – 4:00 p.m. Central Time (CT) next day. Monday – Friday: 5:00 p.m. – 4:00 p.m. CT the next day, except on Friday – closes at 4:00 p.m. and reopens Sunday at 5:00 p.m. CT.
CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday 5:45 p.m. – 6:00 p.m. CT
Minimum Price Fluctuation $.000025 per South African rand increments ($12.50/contract).
Product Code CME Globex: 6Z

CME ClearPort: RA

Clearing: RA

Listed Contracts Thirteen consecutive calendar months plus two-deferred March quarterly cycle months
Settlement Method Deliverable
Termination of Trading 9:16 a.m. Central Time (CT) on the second business day immediately preceding the third Wednesday of the contract month (usually Monday).
Settlement Method ZAR/USD Futures Settlement Procedures
Positon Limits CME Position Limits
Exchange Rulebook CME 259
BLock Minimum Block Minimum Thresholds
Price Limit or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
South African Rand Options
Contract Unit One futures contract for 500,000 South African rand
Minimum Price Fluctuation .00001 per South African rand increments = $5.00 per contract.
Price Quotation U.S. dollars and cents per South African rand increment
Trading Hours CME Globex: Sunday 5:00 p.m. - Friday - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 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
Open Outcry: 7:20 a.m. – 2:00 p.m. CT
Product Code CME Globex: RO

CME ClearPort: RA

Open Outcry: RO

Clearing: RA

Listed Contracts Monthly contracts listed for 12 consecutive months
Settlement Procedures Option on physical delivery futures contract
Termination of Trading Trading terminates at 9:00 a.m. CT on the second Friday prior to the third Wednesday of the contract month.
Position Limits CME Position Limits
Exchange Rulebook CME 259
Block Minimum Block Minimum Thresholds
Price Limit or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Exercise Procedures European style. Auto-exercised against CME Group FX Fixing Price; no contrary instructions allowed.

In-the-money (ITM) strikes exercised. Out-of-the-money (OTM) strikes abandoned. An option is ITM if the CME Group FX Fixing Price for the underlying futures contract is equal to or above the strike price in the case of a call or below the strike price in the case of a put.

Settlement Method Deliverable
Underlying South African Rand Futures

Notes[edit]

CME Group also offers weekly option for South African Rand futures. For more information about the contract specifications, please refer to South African Rand Options Contract Specs

Resources[edit]