CME Restriction Of E$ EFP Trading Sheds Light On Currency Practices


The Chicago Mercantile Exchange (CME) is proposing restrictions on exchanges of futures for physicals (EFP) transactions in Eurodollar futures beyond the second contract month in the March quarterly cycle. According to a memo sent to exchange members this is part of a two-phased effort to "address the needs of our customers while preserving liquidity and insuring the continued viability of price discovery through an open-outcry process."

The CME is acting to combat what it describes as "recent

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: