CME launches CME$Index futures contract

The contract is based on the major currency index published by the US Federal Reserve, and includes euro, Japanese yen, British pound, Swiss franc, Australian dollar, Canadian dollar and Swedish krona.

The weighting assigned to each currency in the index is estimated to reflect the competitiveness of US goods versus that specific country’s goods in world markets. For example, the weight given to Canada should represent the competitiveness of US goods against Canadian goods in markets outside