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They are traded across a wide range of currencies, including the G12 Country currencies and many others.

Some representative financial futures contracts are:

''United States''


''Europe''


''Asia''

  • 3 mo Euroyen (TIF)

  • 90-day Bank Bill (SFE)


where


As an example, consider the definition of the International Money Market (IMM) eurodollar interest rate future, the most widely and deeply traded financial futures contract.

  • There are four contracts per year: March, June, September, December (plus Serial Month s)

  • They are listed on a 10 year cycle. Other markets only extend about 2-4 years.

  • Last Trading Day is the second London business day preceding the third Wednesday of the contract month

  • Delivery Day is cash Settlement on the third Wednesday.

  • The minimum fluctuation ( Commodity Tick size) is half a Basis Point or 0.005%.

  • Payment is the difference between the price paid for the contract (in ticks) multiplied by the "tick value" of the contract which is $12.50 per tick.

  • Before the Last Trading Day the contract trades at market prices. The Final Settlement Price is the price in that an increase in price corresponds to a decrease in yield).


Financial futures are extensively used in the Hedging of Interest Rate Swap s.


SEE ALSO