New Zealand Futures
New Zealand Dollar Basics
Prior to switching to the New Zealand Dollar in 1967, the currency used in New Zealand was the pound, which was similar to, but not the same as the British Pound. The present-day New Zealand Dollar is notable for its endearing nickname, the ‘Kiwi’, for its $1 depiction of the famous flightless bird. Today, the New Zealand Dollar is one of the 10 most-traded currencies in the world and accounts for around 1.6% of the global foreign exchange market daily turnover.
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New Zealand Dollar Contract Specifications
|Contract Size||100,000 New Zealand dollars|
|Contract Month Listings||Six months in the March quarterly cycle (Mar, Jun, Sep, Dec)|
|Settlement Procedure||Physical Delivery
Daily FX Settlement Procedure
Final FX Settlement Procedure
|Position Accountability||6,000 contracts|
|Ticker Symbol||CME Globex Electronic Markets: 6N
Open Outcry: NE
AON Code: UK
|Minimum Price Increment||$.0001 per New Zealand dollar increments ($10.00/contract). $.00005 per New Zealand dollar ($5.00/contract) for NZD/USD futures intra-currency spreads executed on the trading floor and electronically, and for AON transactions.|
|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||9:16 a.m. Central Time (CT) on the second business day immediately preceding the third Wednesday of the contract month (usually Monday).|
|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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