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Home / Education / Markets / Currency Futures Overview / Canadian Dollar Futures

Canadian Dollar Futures

canadian-dollar Before the Canadian Parliament established the Canadian Dollar in 1871, practically every province was conducting transactions in local currencies. Today, the Canadian Dollar value has floated ever since 1970, and is the 7th most traded currency in the world. Just as in the U.S., slang for a dollar is a “buck”, which dates back to the same term used to describe the value of a beaver pelt in the 17th century.

Canadian Dollar Contract Specifications
Contract Size 100,000 Canadian dollars
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 Canadian dollar increments ($10.00/contract). $.00005 per Canadian dollar increments ($5.00/contract) for CAD/USD futures intra-currency spreads executed electronically.
Product Code CME Globex: 6C
CME ClearPort: C1
Clearing: C1
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 business day immediately preceding the third Wednesday of the contract month (usually Tuesday).
Settlement Procedures Physical Delivery – Canadian Dollar Settlement Procedures
Position Accountability 6,000 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

Canadian Dollar Facts

Canadian dollar 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 Canada regulates monetary policy for its currency. 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 Canadian Dollar

  • Trade Spotlight: Futures – Weekly Summary: Canadian Dollar (4/8/2022) - Shorted the Canadian Dollar futures contract and trailed the stop loss lower this week once to reduce the risk.
  • Trade Spotlight: Futures – Weekly Summary: OJ, Canadian Dollar, Corn (11/12/2021) - Trailed the stop loss to lock in gains Purchased the OJ futures contract and trailed the stop loss to lock in gains. Stopped out of the Corn and Canadian Dollar contracts for profit. the Canadian Dollar position. Sold the Corn contract and already lowered the stop loss to reduce the initial risk.
  • Trade Spotlight: Futures – Weekly Summary: Canadian Dollar, Corn (11/5/2021) - Trailed the stop loss to lock in gains on the Canadian Dollar position. Sold the Corn contract and already lowered the stop loss to reduce the initial risk.

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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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