Help on Euroyen (EY)

Euroyen Futures are traded on the Chicago Mercantile Exchange. The price of the Euroyen is quoted in basis points. The standard contract size is 1,000,000 yen. The minimum trading increment is 0.005 basis points

Euroyen prices are read as follows:

A price of 99.245 would be read as 99.245 basis points

A move from 99.245 to 99.345 would be a difference of 250.00 yen excluding commissions and fees. The minimum change is 0.005 point or $12.50

Formula: 95.345 - 95.245 = 0.100 basis points *1,000,000 yen = 1,000.00 yen /4 = 250 yen

Formula: 95.345 - 95.245 = 0.0010 * 1,000,000 = 1,000 / 4 = 250.00

Please note that since Euroyens are a yield based instrument with a duration of 90 days, we divide by 4 because one only receives 1/4 of a years worth of interest (90/360 = 1/4, using the standard 360 day year for interest calculations).

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