Philadelphia Stock Exchange (PHLX) and The Philadelphia Board of Trade (PBOT) announced today the launching of World Currency Futures (WCF) on the Euro (EU9) and British Pound (BP9).
World Currency Options (WCO) on the Japanese Yen (XDN), Swiss Franc (XDS), Canadian Dollar (XDC) and Australian Dollar (XDA) will also be launched pending regulatory approval.
Both WCO and WCF contract specifications have the same underlying currency units creating “mirror” contracts to allow traders the choice to place currency strategies in either securities or futures accounts.
“PHLX and PBOT have introduced foreign exchange “mirror” or sister securities options and futures contracts. These products are right-sized for retail traders -10,000 currency units for the Euro and the Pound,” said PHLX Vice President of New Products, Daniel Carrigan. “The decision to place foreign exchange trades in either a securities or futures account now rests in the hands of the customer,” he said.
PHLX U.S. dollar-settled World Currency Options are quoted in terms of U.S. currency per unit of the underlying currency and the premium is paid and received in U.S. dollars.
PBOT U.S. dollar-settled World Currency Futures are quoted in terms of U.S. dollars per unit of the underlying currency and profit / loss is settled in U.S. dollars.
Timber Hill, Inc., an affiliate of Interactive Brokers Group will be the specialist for the XDA and the XDC.
Susquehanna Investment Group will be the specialist for the XDN and the XDS.
The Philadelphia Stock Exchange was founded in 1790. The PHLX trades 7,000 stocks, 2,454 equity options, 17 sectors index options, and currency options and futures. For more information about the PHLX and its products, visit www.phlx.com.
Contract Specifications
