Brazilian Real Futures
Brazilian Real Basics
Brazil has the largest economy in South America, but in 1994, Brazil was quaking under rampant inflation. The economic solution that was subsequently developed — the Plano Real (Real Plan) — involved a monetary reform package that introduced the modern-day Brazilian Real.
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Brazilian Real Contract Specifications
|Contract Size||100,000 Brazilian reals|
|Contract Month Listings||Consecutive contract month listings (Jan., Feb., Mar., Apr., May, etc.) for a total maturity range out 10 years|
|Daily Settlement Procedure||To reduce basis risk between the CME Brazilian real/U.S. dollar futures and the BM&FBOVESPA U.S. dollar/Brazilian real futures contract, CME Settlements Team will determine the daily settlement prices at 4:00 PM Sao Paulo time each day.|
|Final Settlement Procedure||Cash-settled|
|Position Limits||24,000 futures-equivalent contracts in a single month; 40,000 futures-equivalent contracts in all months combined**|
|Ticker Symbol||CME Globex Electronic Markets: 6L
Open Outcry: BR
AON Code: LZ
|Minimum Price Increment||$.00005 per Brazilian real increments ($5.00/contract).|
|Trading Hours||Open Outcry (RTH): 7:20 a.m.-2:00 p.m.
Globex (ETH): 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 – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45–minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
|Last Trade Date||On the last business day of the month, at 9:15 a.m. CT, immediately preceding the contract month, on which the Central Bank of Brazil is scheduled to publish its final end-of-month (EOM), "Commercial exchange rate for Brazilian reals per U.S. dollar for cash delivery" (PTAX rate).|
|Block Trade Eligibility||Yes.|
|Block Minimum||50 Contracts|
|Exchange Rules||These contracts are listed with, and subject to, the rules and regulations of CME.|
Source: CME Group
Currency Futures Market News
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- Strong jobs data pushes up greenback against euro, yen: [May 09 06:58 AM] Strong U.S. job market data pushed up the greenback on Thursday against the Japanese yen and the common currency of the European Union, providing a brighter outlook for prospects fo the world's largest economy, according to Bloomberg. Read more
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Brazilian Real Market Commentary, Analysis and Trade Recs
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