On Jan. 13 the New York Board of Trade (NYBOT) began trading Euro Currency Index futures (E) contracts. Euro Currency Index options began trading on Jan. 16. The NYBOT also trades U.S. dollar Index futures and options (DX) and multiple currency cross-rate contracts. The Euro index contracts will trade on the exchange’s trading floors in both New York and Dublin.
The Euro Currency Index contract tracks the value of the euro against a basket of five major currencies: the U.S. dollar (USD), British pound (GBP), Japanese yen (JPY), Swiss franc (CHF), and Swedish krona (SEK).
The futures have a trading size of 1,000 euros times the index, and will be quoted to two decimal places (e.g., 104.06). Trading months are in the quarterly contract cycle — March, June, September, and December. In the first days of trading, daily volume peaked at 414 in the March 2006 contract on Jan. 19. For more information visit the FINEX Euro Index section on the NYBOT Web site (www.nybot.com).
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