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Currencies

The very first financial futures contracts were based on foreign currencies. It should be noted that the spot (or forward market) is much bigger than the futures. The forward market, also known as the Interbank market, is dominated by currency dealers at major global banks. Traded electronically and by telephone, the spot market's volume towers over the listed Exchange volume. However, this vehicle is not available to the average investor. The average unit is $1 million, and although currencies also can be traded at retail FOREX-type outlets, the only major leveraged Exchange listed contracts are traded in Chicago. This book is geared toward the average futures trader; it is the active futures contracts that will be discussed.

EuroContract size C=125,000
YenContract size ¥12,500,000
Swiss FrancContract size SF125,000
British PoundContract size £62,500
Dollar IndexContract size $1,000xindex (traded at the NYBOT)
Canadian DollarContract size C$100,000
Mexican PesoContract size MP500,000
Australian DollarContract size A$100,000



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