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Home / Education / Markets / Currency Futures Overview / British Pound Futures

British Pound Futures

British Pound Futures The British Pound—or ‘pound sterling’—is the oldest currency still in use today, with its history stretching as far back as Anglo-Saxon England in the middle 8th century. Today, it is the fourth-most-traded currency in the foreign exchange market, and it is also the third most held reserve currency in all global reserves. As one of the highest-valued currencies in the world for many years, it is no wonder the British Pound has maintained its high popularity amongst foreign currency traders throughout history.

British Pound Contract Specifications
Contract Size 62,500 British pounds
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 $.0001 per British pound increments ($6.25/contract).
Product Code CME Globex: 6B
CME ClearPort: BP
Clearing: BP
Listed Contracts Twenty months in the March quarterly cycle (Mar, Jun, Sep, Dec)
Settlement Method Deliverable
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).
Settlement Procedures Physical Delivery – GBP/USD Futures Settlement Procedures
Position Accountability 10,000 contracts
Block Trade Eligibility Yes.
Block Minimum 100 Contracts
Exchange Rules These contracts are listed with, and subject to, the rules and regulations of CME.
Source: CME Group

British Pound Facts

British Pound 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.

Currency rates are determined by a one base currency quoted in relation to a different currency. Major currencies that are traded are floating. Central bank monetary policies can affect the value of currency. The Bank of England regulates monetary policy for the United Kingdom. For instance, low interest rates dictated as policy can be bearish for currency value because new money is being pumped into the market. This is unappealing to foreign investors because returns yield those low interest rates. In contrast, high interest rates set as policy are bullish and appealing to foreign investors because of high interest yields from the returns. Currency values can be also be affected by the nation’s current account balance. An excess or influx in the balance is considered to be bullish, while a deficit or drainage is considered to be bearish. Economic stability and investment in the country also help strengthen currency values because international investors are likely to buy into that country’s favorable markets.

Source: Barchart

Last updated September 2015

Additional Info

Recent Posts on the British Pound

  • Trade Spotlight: Futures – Weekly Summary: British Pound (3/19/2021) - Still long the British Pound futures contract.
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  • Beyond the Spotlight: March 8, 2021 (Pound, Platinum, Hogs) (3/8/2021) - Beyond the Spotlight is a weekly video released on Mondays that spotlights two or three markets that may become trading opportunities for the week ahead. This enables you as a subscriber of the Trade Spotlight advisory service to look ahead with us, while potentially creating additional trading opportunities for yourself. The week’s video linked below… Read more.

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THIS MATERIAL IS CONVEYED AS A SOLICITATION FOR ENTERING INTO A DERIVATIVES TRANSACTION.

THIS MATERIAL HAS BEEN PREPARED BY A DANIELS TRADING BROKER WHO PROVIDES RESEARCH MARKET COMMENTARY AND TRADE RECOMMENDATIONS AS PART OF HIS OR HER SOLICITATION FOR ACCOUNTS AND SOLICITATION FOR TRADES; HOWEVER, DANIELS TRADING DOES NOT MAINTAIN A RESEARCH DEPARTMENT AS DEFINED IN CFTC RULE 1.71. DANIELS TRADING, ITS PRINCIPALS, BROKERS AND EMPLOYEES MAY TRADE IN DERIVATIVES FOR THEIR OWN ACCOUNTS OR FOR THE ACCOUNTS OF OTHERS. DUE TO VARIOUS FACTORS (SUCH AS RISK TOLERANCE, MARGIN REQUIREMENTS, TRADING OBJECTIVES, SHORT TERM VS. LONG TERM STRATEGIES, TECHNICAL VS. FUNDAMENTAL MARKET ANALYSIS, AND OTHER FACTORS) SUCH TRADING MAY RESULT IN THE INITIATION OR LIQUIDATION OF POSITIONS THAT ARE DIFFERENT FROM OR CONTRARY TO THE OPINIONS AND RECOMMENDATIONS CONTAINED THEREIN.

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