Euro FX Futures (6E) Contract Specifications
What you're trading
The Euro FX future (6E) gives you exposure to the EUR/USD exchange rate — quoted as U.S. dollars per one Euro, the opposite convention from interbank quoting. 6E is the most liquid CME FX contract and the primary futures-based vehicle for hedging or speculating on EUR/USD. Traders use 6E to take views on relative ECB vs. Fed policy, European economic data (PMIs, inflation, ECB announcements), and broader dollar strength/weakness. Because FX futures are physically deliverable but most traders close or roll before expiration, 6E effectively trades as a cash-settled exchange-rate derivative for speculative purposes.
Contract size
€125,000.
Tick value
Minimum price fluctuation is $0.00005 per Euro for outright trades (half a pip), and each tick is worth $6.25 per contract. Spread trades trade in smaller increments. A full 1-cent (100-pip) move in EUR/USD equals $1,250 per contract.
Trading hours
CME Globex: Sunday 5:00 p.m. CT through Friday 4:00 p.m. CT, with the 4:00–5:00 p.m. CT maintenance halt Monday through Thursday. FX futures are generally most liquid during the overlap of London and New York sessions.
Settlement type
Physically delivered (EUR for USD) via CLS Bank. Contract months are all 12 calendar months plus quarterly. Trading terminates at 9:16 a.m. CT on the second business day immediately preceding the third Wednesday of the contract month. Speculative traders close or roll positions before last trading day to avoid physical FX delivery obligations.
Margin snapshot
FX margin is relatively modest because daily moves in major pairs are typically less than 1% in percentage terms. Margin can spike around ECB meetings and U.S. NFP releases.
|
Initial margin (overnight) |
~$2,500–$3,500 per contract (approximate; varies with volatility) |
|
Maintenance margin |
~$2,270–$3,180 per contract |
|
Day-trade margin |
Broker-set; often a fraction of overnight margin |
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Notional value (reference) |
~$135,000 at 1.08 EUR/USD |
Margins change with market volatility and vary by broker. The figures above are approximate and for reference only — always confirm current requirements with MetroTrade support or on the CME margin page before trading.