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Home / Education / Markets / Currency Futures Overview / Swiss Franc Futures

Swiss Franc Futures

Swiss Franc Futures The Swiss Franc, created in 1798 by Swiss cantons, was made the official monetary unit of Switzerland and Lichtenstein in 1859 after the issue of money was restricted to the federal government. Considered as one of the world’s strongest currencies, the Swiss Franc is popular for its low volatility and its low correlation with returns on foreign assets. Historically considered a ‘safe-haven currency’, the Swiss Franc has almost zero inflation. As the sixth most traded currency in the market, the Swiss banknotes have all four national languages printed on them including: German, French, Romansh, and Italian.

Swiss Franc Contract Specifications
Contract Size 125,000 Swiss francs
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 Swiss Franc increments ($12.50/contract). $.00005 per Swiss Franc increments ($6.25/contract) for CHF/USD futures intra-currency spreads executed electronically.
Product Code CME Globex: 6S
CME ClearPort: E1
Clearing: E1
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 – CHF/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

Swiss Franc Facts

Swiss franc 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 Swiss National Bank 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 Swiss Franc

  • Trade Spotlight: Futures – Weekly Summary: Swiss Franc (2/23/2020) - The Trade Spotlight is still short the Swiss Franc futures contract. The stop loss has been trialied to reduce risk.
  • Beyond the Spotlight: Swiss Franc, Bonds, Coffee – May 13, 2019 (5/13/2019) - Beyond the Spotlight for the week of May 13, 2019 covers the Swiss Franc, Thirty-Year Bonds, and Coffee markets. Watch now to look ahead with us, while potentially creating additional trading opportunities for yourself.
  • Beyond the Spotlight: Swiss Franc, Cocoa, & Sugar – April 15, 2019 (4/15/2019) - Beyond the Spotlight for the week of April 15, 2019 covers the Swiss Franc, Cocoa, and Sugar markets. Watch now to look ahead with us, while potentially creating additional trading opportunities for yourself.

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Risk Disclosure

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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