Effective with the start of trading for trade date Monday, September 19, 2011, ICE Futures US (IFUS) will list six new currency pair futures contracts for trading on the ICE electronic trading platform. The new contracts will trade alongside the existing currency pair futures contracts. The new contracts are shown below, along with their contract symbol and contract size:
New Zealand dollar/US dollar (KZX) - 100,000 NZ dollars
Canadian dollar/US dollar (KSV) - 100,000 C. dollars
Swiss franc/US dollar (KMF) - 125,000 S. francs
Japanese yen/US dollar (KSN) -12,500,000 yen
Mexican peso/US dollar (KMP) - 500,000 pesos
Colombian peso/US dollar (KCU) – 100,000,000 pesos
At the start of trading on September 19, the December 2011 and March and June 2012 expiration months will be listed for trading, pending regulatory approval, and new contract months will be listed following the same listing cycle as the exiting currency pair contracts.
KZX, KSV, KMF and KSN Contracts:
For each of the first four contracts, most of the key terms of the new contract trading hours, listed months, first and last trading days, for example will match those of existing IFUS futures contracts on the currency pair. The new KSV, KMF and KSN contracts reverse the quote convention of the existing contract to better align the quote convention with currency market practice; the new KZX contract changes the size of the existing contract in response to requests from market participants for whom the current 200,000 NZ dollar sized contract is too large.
The Mexican peso/US dollar contract introduces a new currency pair to the IFUS currency contract listing. At launch the contract will match the key common terms of the existing IFUS currency pair futures contracts: quarterly contract months, trading hours, first and last trading days, and physical delivery at expiration.
The Colombian peso/US dollar contract also introduces a new currency pair to the IFUS currency contract listing. Terms of this contract differ from the common terms of the other IFUS currency pair contracts in several ways, including: Cash settlement at expiration; Last trading day is the Wednesday immediately prior to the second Thursday of the contract month; Quote convention is in terms of US dollars per 10,000,000 pesos; Minimum tick is $0.10 US dollars per 10,000,000 pesos, or $1.00 per contract.