30 Day Fed Fund Futures

Trading Unit: $5 million

Price Basis: 100 minus the monthly average overnight fed funds rate for the delivery month; for example, a 7.25 percent rate equals 92.75

Tick Size: Increments of 1/100 percent of $5 million on a 30-day basis ($41.67/basis point)

Daily Price Limit: 150 basis points (variable trading, limits of 225 basis points); no limit in the spot month

Contract Months: First 25 calendar months (and the next two months iii clic Mar, July, Sep), Drc cycle thereafter)

Settlement: The contract will be cash settled against the simple average overnight fed funds rate for the delivery month. The overnight fed funds rate is calculated and reported daily by the Federal Reserve Bank of New York.

Last Trading Day: Last business day of the delivery month

Trading Hours: 7:20 a.m. - 2;00 p.m. Chicago (line, Mon - Fri. Trading in expiring contracts closes at 2:00 p.m. on the last trading day.

Tickcr Symbol: FF

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