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Description

Will the FOMC lower the Federal Funds target rate at its next scheduled meeting?

Market Specifications

Trading Screen Product Name

Federal Open Market Committee (FOMC) Rate Decision - Lower Rates

Trading Screen Hub Name

ICUS

Underlying Index

Federal Funds Target Rate - Upper Bound

Contract

Federal Open Market Committee (FOMC) Rate Decision - Lower Rates

Question

Will the FOMC lower the Federal Funds target rate at its next scheduled meeting?

Contract Symbol

OID

Index Calculation Agent

Federal Reserve System

Currency

USD$

Period Types Available

FOMC meeting dates

Contract Size

$100

Unit of Trading

One futures contract

Price Quotation

USD per contract, quoted in $0.01 increments between $0.01 and $0.99

Minimum Tick

$0.01 (one cent) per contract

Minimum Price Fluctuation

$1.00 per contract

Minimum price movement (tick size and value)

$0.01 (one cent) per contract.

Price Limits

$0.01 floor / $0.99 cap

Minimum EDSP Price Increment

$0.01

Last Trading Day

FOMC meeting date – per iteration.

Block Trade Eligible

YES – 2,500 contracts

Final Settlement

Equal to the Last trading Day

Final Payment Date

T+1 (one business day following the Last Trading Day of the relevant Delivery Period)

EDSP / Settlement Methodology

$1.00: FOMC statement confirms a cut to the FFTR – Upper Bound.

$0.00: FOMC statement announces a hold or hike to the FFTR – Upper Bound.

The value of the Underlying as documented by the Federal Reserve System on the Expiration Date at the Expiration Time.

Instructions / Data Access

https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm

MIC Code

IFUS

Clearing Venues

ICUS

Related Products

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• Federal Open Market Committee (FOMC) Rate Decision – Raise Rates Future

Trading Hours

Codes