The FED30D's underlying instrument is the CME 30 Day Federal Funds Futures. The term federal funds rate refers to the target interest rate set by the Federal Open Market Committee (FOMC). 30-Day Fed Funds Futures are one of the most widely used tools for hedging short-term interest rate risk.
Margin Requirement's may differ depending on account type and can be viewed in the dealing rates and create order windows on the trading station or by clicking here.
Trading Hours, Expiration and Reference Month
Please click here for trading hours. Please note, however, that hours are subject to change based on Daylight Savings Time. Any holiday hours will be posted here. FXCM expiration dates and current reference month for FED30 are located in the FXCM CFD Expiration PDF.
If you have an open position, the reference month you are trading will not be changed, although expiration dates may be amended. Upcoming reference months may be changed with no prior notice. Please ensure you are aware of which reference month is currently being priced, prior to opening a trade.
Clients that hold an open position on the ‘FXCM Expiration’ will be closed at our bid/offer at 17:00 New York time for FED30, which means the client will realise any floating P/L at the time it is closed. When FED30 expires, all pending Entry orders and Stop/Limit orders that are associated with the expiring contract will be cancelled. Clients will need to re-establish another position if desired after the expiration and reinsert Stop and Limit orders to the new open position.
The FED30 has a target spread of 2.0 pips/points.
Max Contract Size
The maximum number of contracts per click (trade) for FED30 is 500.
Minimum Pip Cost (Value)
The FED30 has a minimum value of 0.10 USD per point (Your per point value may be different if your account is denominated in a different currency. Please refer to the Simple Dealing Rates Window in Trading Station for this value).
The pip/point location is shown below. Each 0.01 price movement on the FED30 is 1 pip/point. FXCM’s pricing displays an additional decimal place - ideal for scalpers in a fast-moving market.
Number of FXCM Contracts to Equal 1 Future
417 FXCM FED30 Contracts are currently equivalent to one 30 Day Fed Funds Future
The FED30 has no financing cost (Rollover).