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Swiss franc futures and options

Swiss francs are an attractive instrument that can add to portfolio diversification for both lenders and borrowers. When the new European currency the euro-currency fx was introduced, the Swiss franc appreciated significantly against the euro in April to September 2000, and remains one of the world's strongest currencies, worth today around two-thirds of a euro. The return on Swiss franc and capital market instruments exhibit both a low volatility and a low correlation with the return on foreign assets. One Swiss franc is typically divided into 100 centimes.

Trading in Swiss franc futures contract at CME began in 1972, while options on futures trading became available in 1985. CME currently offers markets for trading Swiss francs futures and options on futures on its GLOBEX electronic trading platform as well as on its trading floor.

The Swiss franc contract is designed to reflect changes in the U.S. dollar value of the franc. Futures contracts are quoted in U.S. dollars per franc, and call for physical delivery at expiration. Physical delivery takes place on the third Wednesday of the contract month, in the country of issuance at a bank designated by the CME Clearing House. Exercised options on futures contracts are settled by the delivery of futures contracts.

The contract size is 125,000 Swiss francs per contract. Trading occurs in $.0001 per Swiss franc, or $12.50 per contract. Swiss franc futures trading may also occur in $.00005 per Swiss franc contract, equaling $6.25 per contract.

Swiss franc futures and options on futures contracts traded at CME are designed to reflect changes in the U.S. dollar value of the franc. Futures contracts are quoted in U.S. dollars per franc, and call for physical delivery at expiration. Exercised options contracts are settled by the delivery of futures contracts. Financial institutions, investment managers, corporations and private investors can use Swiss franc futures and options to manage the risks associated with currency rate fluctuation and to take advantage  of profit opportunities stemming from changes in currency rates.

Swiss Franc Contract Specifications

Contract Size 125,000 Swiss francs

Contract Month Listings Twenty months in the March quarterly cycle (Mar, Jun, Sep, Dec)

Settlement Procedure Physical Delivery

Daily FX Settlement Procedures (PDF)

Final FX Settlement Procedures (PDF)

Position Accountability 10,000 contracts

Ticker Symbol CME Globex Electronic Markets: 6S
Open Outcry: SF
AON Code: LS

Minimum Price Increment $.0001 per Swiss Franc increments ($12.50/contract). $.00005 per Swiss Franc increments ($6.25/contract) for CHF/USD futures intra-currency spreads executed on the trading floor and electronically, and for AON transactions.

Trading Hours CME Globex (ETH) Sundays: 5:00 p.m. – 4:00 p.m. Central Time (CT) next day. Monday – Friday: 5:00 p.m. – 4:00 p.m. CT the next day, except on Friday - closes at 4:00 p.m. and reopens Sunday at 5:00 p.m. CT.
CME ClearPort Sunday – Friday 5:00 p.m. – 4:15 p.m. Chicago Time (CT) with a 45–minute break each day beginning at 4:15 p.m.
Open Outcry (RTH) 7:20 a.m. – 2:00 p.m. Central Time (CT)

Last Trade Date / Time
View calendar 9:16 a.m. Central Time (CT) on the second business day immediately preceding the third Wednesday of the contract month (usually Monday).

Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CME.

Block Trade Eligibility Yes. View more on Block Trade eligible contracts.

Block Trade Minimum 100 Contracts

EFP Eligibility Yes. View more on EFPs.

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