BFX EURUSD Futures
The global currency market (commonly referred to as the Foreign Exchange markets or the FX markets) is the largest asset class in the world in terms of value of transactions. The average daily turnover across all FX markets worldwide increased to USD 4.15 trillion in 2010, as compared to USD 3.40 trillion in 2007. The spot market transactions (USD 1.49 trillion), outright forwards (USD 0.475 trillion) and FX swaps (USD 1.765 trillion) constitute over 93% (USD 3.73 trillion) of the global FX markets' average daily turnover(Source: BIS).
The Euro is the second most traded currency in the world after the US dollar and is the common currency of the Euro zone region. With the Euro zone countries contributing to one-fifth of the global GDP, the Euro currency has gained recognition in terms of acceptance for international trade. Increasing volatility in the EURUSD exchange rate has necessitated exporters, importers, corporates, financial institutions and investors to hedge against currency price risk using futures contracts.
The BFX Euro versus the US dollar (EUR-USD) currency futures (Symbol: BFXEUUS) has a lot size of EUR 25,000 and is quoted in US dollars and cents per one Euro. The final settlement price is based on the equivalent EURUSD futures contracts trading in Chicago, USA.
BFX EURUSD Futures product booklet, please click here
BFX EURUSD Futures contract specifications, please click here