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The Eurodollar futures contract was launched in 1981. It was the first cash-settled futures contract. [13] It traded on the Chicago Mercantile Exchange. [14] Eurodollar futures were an instrument used to wager on Federal Reserve policy or to hedge the direction of short-term interest rates.
A short-term interest rate (STIR) future is a futures contract that derives its value from the interest rate at maturation. Common short-term interest rate futures are Eurodollar, Euribor, Euroyen, Short Sterling and Euroswiss, which are calculated on LIBOR at settlement, with the exception of Euribor which is based on Euribor and Euroyen which is based on TIBOR.
The International Monetary Market (IMM), a related exchange created within the old Chicago Mercantile Exchange and largely the creation of Leo Melamed, was one of four divisions of the CME Group (CME), the largest futures exchange in the United States, for the trading of futures contracts and options on futures.
Futures exchange operator CME Group Inc said on Tuesday it has decided to permanently close the physical trading pits it shut last March due to the COVID-19 pandemic. The company said the ...
Eurodollar futures contracts expiring by December 2022 showed an implied yield of 43 basis points in the afternoon session, equivalent to an 80% chance of a hike, analysts said. Meanwhile ...
The IMM dates are the four quarterly dates of each year which certain money market and Foreign Exchange futures contracts and option contracts use as their scheduled maturity date or termination date. The dates are the third Wednesday of March, June, September and December (i.e., between the 15th and 21st, whichever such day is a Wednesday).
This is a list of notable futures exchanges. ... Chicago Mercantile Exchange (CME / GLOBEX) (Since 2007 a Designated Contract Market owned by the CME Group)
Markets are pricing in a near-100% chance the Fed will pause its rate-cutting cycle at its January policy meeting, and a 61% chance it will pause rates in February as well, according to the CME ...