The Chicago Mercantile Exchange will begin trading European-style options on three of its foreign exchange futures beginning July 31. The European-style options, which can only be exercised at expiration (American-style options can be exercised at any time), will be listed on the British pound, Canadian dollar, and Swiss franc futures.
The European-style options will trade electronically on Globex and also in the pits. The CME also lists American-style options on these futures contracts, but they are traded mostly via open outcry and are available for only a limited time each day on Globex.
European-style options have been offered on the euro and Japanese yen futures since April 2005.
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