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Home / Education / Markets / Currency Futures Overview / Brazilian Real Futures

Brazilian Real Futures

Brazilian Real Futures Brazil has a long history of ever-changing currency forms that began in the 16th century with Spanish coins first making an appearance. From then on, gold, copper and paper were also introduced. 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.

Brazilian Real Contract Specifications
Contract Size 100,000 Brazilian reais
Trading Hours CME Globex: Sundays: 5:00pm – 4:00pm CT next day.
Monday – Friday: 5:00pm – 4:00pm CT the next day, except on Friday – closes at 4:00pm and reopens Sunday at 5:00pm CT.
CME ClearPort: Sunday – Friday 5:00pm – 4:15pm CT with a 45–minute break each day beginning at 4:15pm
Minimum Price Fluctuation $.00005 per Brazilian real increments ($5.00/contract).
Product Code CME Globex: 6L
CME ClearPort: BR
Clearing: BR
Listed Contracts Consecutive contract month listings (Jan., Feb., Mar., Apr., May, etc.) for a total maturity range out 10 years
Settlement Method Financially Settled
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 reais per U.S. dollar for cash delivery” (PTAX rate).
Settlement Procedures BRL/USD Futures Settlement Procedures
Position Accountability 30,000 for a single month; 60,000 in all months
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

Brazilian Real Facts

Brazilian Real futures allow traders to assess value against the U.S. dollar, as well as the opportunity to address risk from currency fluctuations in other foreign trade markets.

The Central Bank of Brazil is responsible for setting monetary policy as it pertains to its currency. This includes, but is not limited to the setting of interest rates. Interest rates are fundamental in determining currency values as money is pumped in or out of the marketplace, and overall can have an effect on the value of the Brazilian Real.

Source: Central Bank of Brazil

Last updated September 2015

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The StoneX Group Inc. group of companies provides financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided. References to over-the-counter (“OTC”) products or swaps are made on behalf of StoneX Markets LLC (“SXM”), a member of the National Futures Association (“NFA”) and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer. SXM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of SXM. StoneX Financial Inc. (“SFI”) is a member of FINRA/NFA/SIPC and registered with the MSRB. SFI does business as Daniels Trading/Top Third/Futures Online. SFI is registered with the U.S. Securities and Exchange Commission (“SEC”) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Adviser. References to securities trading are made on behalf of the BD Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures and options are made on behalf of the FCM Division of SFI.

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