ICE Dollar Based Currency Pairs Brazilian Real/US Dollar

The Brazilian real is one of the most actively traded of the emerging market currencies. The ICE Futures U.S. cash-settled Brazilian real futures contract offers customers the ease of doing business in a regulated futures environment for execution and clearing. Exchange rules governing the trading of Brazilian real futures can be found in the ICE Futures U.S. Rulebook.
Dollar Based Currency Pairs Brazilian Real/US Dollar Futures	Dollar Based Currency Pairs Brazilian Real/US Dollar Futures 	Dollar Based Currency Pairs Brazilian Real/US Dollar Futures 	Dollar Based Currency Pairs Brazilian Real/US Dollar Futures
Trading Screen Product Name 	BRL/USD 	BRL/USD 	BRL/USD
Trading Screen Hub Name 	NYCC 	NYCC 	NYCC
Contract Series 	Monthly for all twelve calendar months for sixty calendar months (maturity range out five years) A new contract month is listed for trading on the business day following the last trading day of the expiring month contract. (On the launch date of Jan 28, 2013, listed contract months will be from the March 2013 to the February 2018 expiration.)	Monthly for all twelve calendar months for sixty calendar months (maturity range out five years) A new contract month is listed for trading on the business day following the last trading day of the expiring month contract. (On the launch date of Jan 28, 2013, listed contract months will be from the March 2013 to the February 2018 expiration.)	Monthly for all twelve calendar months for sixty calendar months (maturity range out five years) A new contract month is listed for trading on the business day following the last trading day of the expiring month contract. (On the launch date of Jan 28, 2013, listed contract months will be from the March 2013 to the February 2018 expiration.)
Trading Hours 	Electronic trading on Sunday from 6:00 PM to 5:00 PM ET on Monday; Monday - Friday: 8:00 PM to 5:00 PM ET, except on Friday, when trading closes at 5:00 PM ET and reopens at 6:00 PM ET Sunday 	Electronic trading on Sunday from 6:00 PM to 5:00 PM ET on Monday; Monday - Friday: 8:00 PM to 5:00 PM ET, except on Friday, when trading closes at 5:00 PM ET and reopens at 6:00 PM ET Sunday 	Electronic trading on Sunday from 6:00 PM to 5:00 PM ET on Monday; Monday - Friday: 8:00 PM to 5:00 PM ET, except on Friday, when trading closes at 5:00 PM ET and reopens at 6:00 PM ET Sunday
Contract Symbol 	KBX 	KBX 	KBX
Contract Size 	100,000 Brazilian Reais 	100,000 Brazilian Reais 	100,000 Brazilian Reais
Price Quotation 	U.S. dollars per real to five decimal places 	U.S. dollars per real to five decimal places 	U.S. dollars per real to five decimal places
Minimum Price Fluctuation 	$.00005 per real/$5.00 per contract 	$.00005 per real/$5.00 per contract 	$.00005 per real/$5.00 per contract
Last Trading Day 	The last trading day is the last business day of the prior calendar month. Trading in the expiring contract month ends at 10:15 AM ET on last trading day. 	The last trading day is the last business day of the prior calendar month. Trading in the expiring contract month ends at 10:15 AM ET on last trading day. 	The last trading day is the last business day of the prior calendar month. Trading in the expiring contract month ends at 10:15 AM ET on last trading day.
Final Settlement 	The final settlement value is the final, end-of-month "commercial exchange rate for the Brazilian real per U.S. dollar for cash delivery" (PTAX rate) published by the Central Bank of Brazil on the last trading day for the expiring contract. 	The final settlement value is the final, end-of-month "commercial exchange rate for the Brazilian real per U.S. dollar for cash delivery" (PTAX rate) published by the Central Bank of Brazil on the last trading day for the expiring contract. 	The final settlement value is the final, end-of-month "commercial exchange rate for the Brazilian real per U.S. dollar for cash delivery" (PTAX rate) published by the Central Bank of Brazil on the last trading day for the expiring contract.
Settlement Method 	Cash-settled 	Cash-settled 	Cash-settled
Block Trade Minimum 	Information about Block Trades, including the Minimum Quantity, can be found here. 	Information about Block Trades, including the Minimum Quantity, can be found here. 	Information about Block Trades, including the Minimum Quantity, can be found here.
Position Limit 	Spot month: 24,000 contracts (in effect for the last 5 trading days); all other months, a position accountability level of 40,000 futures contracts across all contract months 	Spot month: 24,000 contracts (in effect for the last 5 trading days); all other months, a position accountability level of 40,000 futures contracts across all contract months 	Spot month: 24,000 contracts (in effect for the last 5 trading days); all other months, a position accountability level of 40,000 futures contracts across all contract months
z-Available Field 	Real futures are eligible for TAS trading (For more information on TAS trading, see the ICE Futures U.S. TAS FAQ. 	Real futures are eligible for TAS trading (For more information on TAS trading, see the ICE Futures U.S. TAS FAQ. 	Real futures are eligible for TAS trading (For more information on TAS trading, see the ICE Futures U.S. TAS FAQ.
MIC Code 	IFUS 	IFUS 	IFUS
Clearing Venues 	ICUS 	ICUS 	ICUS
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	8:00 PM - 5:00 PM*
20:00 - 17:00 	7:30 PM
19:30
Trading Hours 	LONDON 	1:00 AM - 10:00 PM*
01:00 - 22:00 	12:30 AM
00:30
Trading Hours 	SINGAPORE 	9:00 AM - 6:00 AM*
09:00 - 06:00 	8:30 AM
08:30
Trading Hours 	*Next Day
**Sunday evening trading opens at 6:00 pm Eastern 	*Next Day
**Sunday evening trading opens at 6:00 pm Eastern 	*Next Day
**Sunday evening trading opens at 6:00 pm Eastern
Codes 	Clearing Admin Name 	FOREX 	FOREX
Codes 	Physical 	KBX 	KBX
Codes 	Logical 	KBX 	KBX
Codes 	GMI (FC) 	BD 	BD
Codes 	ION A.C.N. 	None 	None
== Notes ==
==References==
==Resources==
ICE Dollar Based Currency Pairs Brazilian Real/US Dollar Product Spec
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