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Foreign Exchange

ICE launches eight new euro-denominated futures

InterContinental Exchange is to launch 10 new FX futures on ICE Futures US. The contracts, chiefly newly sized euro pairings, will begin trading on Monday June 6.

Eight of the contracts will add to the bourse's in euro suite, with €125,000 ($180,000) contract sizes. These are: euro/dollar; euro/Swiss franc; euro/Australian dollar; euro/Sterling; euro/Canadian dollar; euro/yen; euro/Norwegian krone; and euro/Swedish krona.


The other two new listings will be on the Swiss franc/yen pairing, with a face value of SFr250,000 ($294,000), and the Aussie dollar/US dollar, worth A$100,000 (US$107,000).


The contracts will be available for electronic trading on ICE, as well as exchange-for-physical transactions and block trading.

Cross-margining for the contracts will be available, including spread margining with the ICE US Dollar Index, as well as inter-exchange spread credit, the exchange said.


The bourse has also expanded its exchange-member firm-fee programme for the dollar index to include all FX futures and options contracts, featuring a rate of $0.30 per side.


ICE lists a range of FX futures; the US dollar index measures that currency against a basket of the euro, yen, pound, Canadian dollar, Swedish krona and Swiss franc.


“FX traders in the institutional, retail, bank and corporate segments have expressed strong interest in trading additional futures pairs alongside the benchmark ICE US Dollar Index futures contract,” said ICE’s Ray McKenzie.


“With the addition of these 10 currency pairs at ICE Futures US, market participants now have the choice of another regulated futures exchange venue for trading currency futures in popular contract sizes.”

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