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Driving Global Growth and Commerce. As the world’s leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. Through its exchanges, CME Group offers the widest range of global benchmark products across all major asset classes, including futures and options based on interest ratesequity indexesforeign exchangeenergyagricultural products and metals. CME Group provides electronic trading globally on its CME Globex platform. The company also offers clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives through its clearinghouse, CME Clearing. CME Group’s products and services ensure that businesses around the world can effectively manage risk and achieve growth.

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About Key Economic Events

Parent Course: Learn About Key Economic Events

Gross Domestic Product (GDP) is one of the most important and most talked-about data points in the trading month. MORE

Contributed by: CME Group

About the Retail Sales Report

Parent Course: Learn About Key Economic Events

The retail sales number is a crucial data point in the United States, and its release is one of the most market-moving events of the month. MORE

Contributed by: CME Group

FULL
COURSE

Building a Trade Plan

Traders who win consistently treat trading as a business. While there is no guarantee that you will make money, developing a trading plan is crucial if you want to become consistently successful and thrive in the trading game. Every trader—no matter your experience—needs a plan. MORE

Contributed by: CME Group

Building a Trade Plan

Parent Course: Building a Trade Plan

Traders who win consistently treat trading as a business. While there is no guarantee that you will make money, developing a trading plan is crucial if you want to become consistently successful and thrive in the trading game. Every trader—no matter your experience—needs a plan. MORE

Contributed by: CME Group

Calculating U.S. Treasury Pricing

Parent Course: Introduction to Treasuries

Pricing U.S. Treasury bonds, notes and futures can look at first glance to be much different than the pricing of other investment products. MORE

Contributed by: CME Group

Chart Types: Candlestick, Line and Bar

Parent Course: Intermediate Technical Analysis

Trading charts are essential to technical analysis in the futures markets as they provide the foundation of the entire study. They are the means to view price moves in a visual way and form the backdrop on which you can place various indicators to help you make decisions. MORE

Contributed by: CME Group

CME Contract Codes and Specs

Parent Course: Introduction to Futures

The Main Goals: Understand the design of a product and how to identify it; Learn how exchanges deal with expiring contracts; Definition of a Futures Contract; Learn About Contract Specifications; Understanding Contract Trading Codes; and Get to Know Expiration and Settlement. IMPORTANT: Video is a playlist with 4 videos. They will play one after... MORE

Contributed by: CME Group

CME Expiration and Contract Roll

Parent Course: Introduction to Futures

The Main Goals: Understand your trading options as a contract nears expiration; and Understanding Futures Expiration and Contract Roll MORE

Contributed by: CME Group

CME Margin

Parent Course: Introduction to Futures

Learn about the deposit required be by the clearing house before you can trade. MORE

Contributed by: CME Group

CME Price Discovery, Hedgers and Speculators

Parent Course: Introduction to Futures

Learn about the interaction of buyers and sellers and understand how to calculate gains and losses as prices change; and understand the role of different types of market participants in the same market. IMPORTANT: Video is a playlist with 4 videos. They will play one after another. MORE

Contributed by: CME Group

CME Tick and Price Movement

Parent Course: Introduction to Futures

See the impact of price movement on the value of a position and how much exchanges permit prices to fluctuate during the day. How much risk is your position controlling? IMPORTANT: Video is a playlist with 4 videos. They will play one after another. MORE

Contributed by: CME Group

Eurodollar Intramarket Spreads

Parent Course: Introduction to Eurodollars

This module will cover the basic spread strategies used in Eurodollar futures including calendar or yield curve spreads. MORE

Contributed by: CME Group

Fibonacci Retracements and Extensions

Parent Course: Intermediate Technical Analysis

Fibonacci numbers have a foundation in ancient mathematics and have found their way in to trading indicators as well, included in most charting platforms. MORE

Contributed by: CME Group

Fundamental Analysis – Futures Supply and Demand

Parent Course: Futures Fundamental Analysis

Supply and demand is a key economic concept that attempts to explain what the market is willing to pay for a given product, where the quantity produced is equal to the quantity demanded. This interaction is key to the analysis of the price of a futures contract. MORE

Contributed by: CME Group

Fundamental Analysis versus Technical Analysis – Intermediate

Parent Course: Intermediate Technical Analysis

There are many factors that traders look at and analyze when choosing a futures contract to trade. Some traders might look for trends on a chart while other traders might look to see if demand might be increasing for a commodity. MORE

Contributed by: CME Group

Fundamental Analysis vs Technical Analysis

Parent Course: Futures Fundamental Analysis

There are many factors that traders look at and analyze when choosing a futures contract to trade. Some traders might look for trends on a chart while other traders might look to see if demand might be increasing for a commodity. MORE

Contributed by: CME Group

Fundamental Trading Methods

Parent Course: Trading and Analysis

Fundamental traders do well when they can recognize the potential for a significant price move toward or away from equilibrium caused by a change in the underlying supply or demand. MORE

Contributed by: CME Group

Fundamentals and Agricultural Futures

Parent Course: Futures Fundamental Analysis

Traders can use Agricultural futures to represent commodities, such as cattle, grains, corn or soy. The fundamental analyst will look at certain factors to help determine where the price of these commodities might move in the future. MORE

Contributed by: CME Group

Fundamentals and Energy Futures

Parent Course: Futures Fundamental Analysis

Energy products are varied and have many end-uses. Crude oil, for example, can be used to make gasoline or as a raw material in the manufacturing of plastics. Natural gas can be used for heating applications as well as a feedstock for plastics, chemicals and other applications. MORE

Contributed by: CME Group

Fundamentals and Equity Index Futures

Parent Course: Futures Fundamental Analysis

Fundamentals are important in the analysis of a futures contract price. Each futures market will have unique fundamental factors that will affect price. MORE

Contributed by: CME Group

Fundamentals and FX Futures

Parent Course: Futures Fundamental Analysis

Market participants can trade futures contracts that represent the relationship between two currencies, also known as the foreign exchange (Forex, FX) market. MORE

Contributed by: CME Group

Fundamentals and Interest Rate Futures

Parent Course: Futures Fundamental Analysis

When it comes to trading Interest Rate futures, traders have a variety of products to choose from. Short-term products, like Eurodollar and Fed Fund futures, and extending along the yield curve to longer maturity products like 5-year and 10-year Treasury Notes as well as 30-year Treasury Bonds. MORE

Contributed by: CME Group

Fundamentals and Metal Futures

Parent Course: Futures Fundamental Analysis

The fundamental analyst will look at certain factors to determine where the price of metals like gold and silver might move in the future. MORE

Contributed by: CME Group

FULL
COURSE

Futures Fundamental Analysis

Fundamental analysis is the process of determining the model price of a futures contract, now and in the future, using factors like micro economic data, macro-economic data, and industry financial conditions. MORE

Contributed by: CME Group

Get to know Treasuries CTD

Parent Course: Introduction to Treasuries

Now that you have a deeper understanding of the U.S. Treasury basis, we need to delve a little deeper into what is known as the cheapest-to-deliver (CTD) security. While each U.S. Treasury futures contract has its own basket of eligible securities for delivery, generally one, or sometimes two, price out to be most efficient... MORE

Contributed by: CME Group

How Can You Measure Risk in Treasuries?

Parent Course: Introduction to Treasuries

When it comes to measuring risk for fixed income (rates) traders and portfolio managers, they tend to use one or two yardsticks, value of a basis point and modified duration. MORE

Contributed by: CME Group

FULL
COURSE

Intermediate Technical Analysis

There are two types of analysis used by traders to inform their trading decisions. Technical analysis and fundamental analysis. In this course, you will learn about the various patterns, indicators, and analysis techniques traders use when studying the price of a commodity. We will start at the beginning by learning how to read price... MORE

Contributed by: CME Group

FULL
COURSE

Introduction to Eurodollars

Short Term Interest Rate (STIR) markets remain a critical product within the fixed income asset class and are closely watched by investors keen to track central bankers’ policy moves. By far the largest of them all is the CME-traded Eurodollar futures market for 90-day liabilities. MORE

Contributed by: CME Group

FULL
COURSE

Introduction to Futures

This course provides content to suit investors with different levels of knowledge about the futures market. Investors new to the world of futures trading can use this introductory course to learn key industry concepts and how to find information using the trading tools within TWS. MORE

Contributed by: CME Group

FULL
COURSE

Introduction to Treasuries

Broaden your understanding of futures and Treasury markets with this course. MORE

Contributed by: CME Group

FULL
COURSE

Learn About Key Economic Events

As a trader, you will come across many factors that you must consider before entering or exiting the markets. Some of the most important aspects to look for are economic events that can move the markets drastically one way or another. MORE

Contributed by: CME Group

Learn about the Treasuries Delivery Process

Parent Course: Introduction to Treasuries

At the expiration of a futures contract, the contract is usually settled one of two ways, through a physical settlement involving a delivery of the underlying product or by means of a financial, or cash, settlement to an index or widely accepted price benchmark. MORE

Contributed by: CME Group

Liquidity and Immediacy

Parent Course: Trading and Analysis

There are three key features traders will look for when considering entering a new market. Does the market offer a tight bid/offer spread? Is it liquid? What are the trading hours? MORE

Contributed by: CME Group

Market Makers vs. Market Takers

Parent Course: Learn About Key Economic Events

Any thriving marketplace has two types of traders: market makers and market takers. MORE

Contributed by: CME Group

Oscillators: MACD, RSI, Stochastics

Parent Course: Intermediate Technical Analysis

Oscillators are a group of technical indicators that attempt to indicate the strength of a trend and if a market is over-bought or over-sold. MORE

Contributed by: CME Group

Step 1. Your Trade Plan Objective

Parent Course: Building a Trade Plan

Setting your trading objective is one of the most important steps in developing a trade plan, yet is the one step that most new traders neglect. Purposefully thinking about your objective helps you clarify what you plan to achieve, how you plan to do it, and by when. MORE

Contributed by: CME Group

Step 2. Methodology Behind Your Trade Plan

Parent Course: Building a Trade Plan

There’s a method to your madness, right? Now that you have your objective in mind and know where you’re going with your trading, it is important to describe how you intend to conduct your trading business in general terms, i.e., your methodology. MORE

Contributed by: CME Group

Step 3. Risk Management and Your Trade Plan

Parent Course: Building a Trade Plan

Risk management is absolutely essential in successful trading. At the outset, all you need to do is simply define your risk management approach and any specific rules you intend to use. MORE

Contributed by: CME Group

Step 4. Trading Strategies in Your Trade Plan

Parent Course: Building a Trade Plan

Now it is time to focus on putting together your trading strategies, which at this point mostly concern how you establish your entry and exit points. In many (if not most) cases, the timing of your position entries and exits will be the most stressful and thought-over parts of the entire trade. MORE

Contributed by: CME Group

Step 5. Keep a Trade Log

Parent Course: Building a Trade Plan

A trade log is an excellent tool for viewing the bigger picture. In one snapshot you can get an overview of your trading history and identify successes and mistakes made along the way. MORE

Contributed by: CME Group

Support and Resistance

Parent Course: Intermediate Technical Analysis

Support and Resistance are common terms that traders use to describe levels where price is more likely to stop moving in one direction or change direction. MORE

Contributed by: CME Group

Support and Resistance

Parent Course: Trading and Analysis

Original study notes from CME Group Education MORE

Contributed by: CME Group

Technical Patterns: Reversals

Parent Course: Intermediate Technical Analysis

Technical analysts may look at patterns in price to determine whether a trend will continue or if a reversal in trend is possible. MORE

Contributed by: CME Group

Term Mid-Curve Eurodollar Options

Parent Course: Introduction to Eurodollars

Eurodollar Term Mid-Curves, the newest addition to options on Eurodollar futures, offer short-dated options on the deferred white quarterly contracts. Eurodollar, Mid-Curve and Term Mid-Curve are options on Eurodollar futures. MORE

Contributed by: CME Group

The Basics of Treasuries Basis

Parent Course: Introduction to Treasuries

In U.S. Treasury futures, the basis is the price spread, usually quoted in units of 1/32, between the futures contract and one of its eligible delivery securities. MORE

Contributed by: CME Group

The Importance of Basis Point Value (BPV)

Parent Course: Introduction to Eurodollars

A basis point is a unit of measure used in finance to describe the percentage change in the value or rate of a financial instrument. MORE

Contributed by: CME Group

The Importance of Consumer Confidence Surveys

Parent Course: Learn About Key Economic Events

Consumer confidence surveys are key indicators into the overall health of the economy. When people feel confident about the stability of their incomes, it influences their spending and saving activities. MORE

Contributed by: CME Group

The Link Between Eurodollar Futures Pricing And The Forward Rate Market

Parent Course: Introduction to Eurodollars

A Forward Rate Agreement (FRA) is a forward contract on interest rates. While FRAs exist in most major currencies, the market is dominated by U.S. dollar contracts and is used mostly by money center banks. MORE

Contributed by: CME Group

Trader Tips

Parent Course: Building a Trade Plan

Before you open your first trade, there's potential to make a couple of common mistakes. And as these are easily controllable, there's no reason to be caught out. MORE

Contributed by: CME Group

FULL
COURSE

Trading and Analysis

In this section, you’ll explore the differences between fundamental analysis and technical analysis. Then, you’ll learn an important concept that traders need to understand—the difference between trending and anti-trending markets. MORE

Contributed by: CME Group

Trading and Analysis – Fundamental Analysis

Parent Course: Trading and Analysis

Market fundamentals are the backbone factors influencing the price of the underlying asset upon which a futures contract is based. A fundamental analyst looks at two issues—supply and demand. MORE

Contributed by: CME Group

Treasuries Hedging and Risk Management

Parent Course: Introduction to Treasuries

Hedging interest rate risk with CME Group U.S. Treasury futures begins with identifying the futures contract’s cheapest to deliver (CTD) security. Once identified, we can determine the implied basis point value (BVP). BPV is also known as value of a basis point (VBP) or dollar-value of an .01 (DV01). They all refer the same... MORE

Contributed by: CME Group

Treasury Intermarket Spreads – The Yield Curve

Parent Course: Introduction to Treasuries

Original study notes from CME Group Education MORE

Contributed by: CME Group

Trend and Continuation Patterns

Parent Course: Intermediate Technical Analysis

Technical analysts look for certain types of patterns that generally indicate that a market will reverse or continue moving in a certain direction. MORE

Contributed by: CME Group

Trend vs. Anti-Trend

Parent Course: Trading and Analysis

Original study notes from CME Group Education MORE

Contributed by: CME Group

Understand Treasuries Contract Specifications

Parent Course: Introduction to Treasuries

Futures markets trade standardized futures contracts, which means futures that share an underlying asset are interchangeable. They have certain terms that are clearly defined by the futures contract and are usually summed up the contract specifications. MORE

Contributed by: CME Group

Understanding Consumer Price Index and Producer Price Index

Parent Course: Learn About Key Economic Events

There are two inflationary measures in our economy, the Consumer Price Index (CPI) and the Producer Price Index (PPI). MORE

Contributed by: CME Group

Understanding Convexity Bias

Parent Course: Introduction to Eurodollars

To understand the convexity bias, you must understand the parallels between the Eurodollar futures market and the forward rate agreement (FRA) market. Both of these markets are large, liquid and have a vast influence on short-term interest rate pricing. MORE

Contributed by: CME Group

Understanding Eurodollar Strips

Parent Course: Introduction to Eurodollars

One of the key reasons the Eurodollar contract has become so liquid and successful is because of hedgers using the market to hedge against adverse interest rate fluctuations. MORE

Contributed by: CME Group

Understanding IMM Price and Date

Parent Course: Introduction to Eurodollars

IMM stands for the International Monetary Market. Interest Rate products that have an original maturity of less than 366 days, trade in what is commonly referred to as the “Money Market”. MORE

Contributed by: CME Group

Understanding Moving Averages

Parent Course: Intermediate Technical Analysis

Moving averages are a common way for technical traders to begin the process of price analysis. It is often one of the first indicators that traders will add to their charts and will serve as a measure on its own or in comparison with other indicators. MORE

Contributed by: CME Group

Understanding Packs and Bundles

Parent Course: Introduction to Eurodollars

Previously, we discussed how market participants can use Eurodollars to hedge floating rate loans by using strips of Eurodollar futures. You might choose to hedge a one-year loan (hedge against higher interest rates) with quarterly reset dates by selling four quarterly Eurodollar futures contracts in what is known as a strip hedge. The... MORE

Contributed by: CME Group

Understanding the FOMC Report

Parent Course: Learn About Key Economic Events

The Federal Reserve, also referred to as the Fed, is the central banking system of the United States and is responsible for guiding U.S. monetary policy. Economic policy announcements and public statements by the Federal Reserve are among the most highly anticipated trading events of the year, since implications for financial markets are so... MORE

Contributed by: CME Group

Understanding the Oil Data Report

Parent Course: Learn About Key Economic Events

There is no overestimating the importance of oil prices on the underlying health of the economy. As oil prices move up or down, inflation follows in the same direction. MORE

Contributed by: CME Group

Understanding U.S. Housing Data

Parent Course: Learn About Key Economic Events

The U.S. housing market is one of the most talked about sectors of the economy, and for good reason. MORE

Contributed by: CME Group

What is Fundamental Analysis?

Parent Course: Futures Fundamental Analysis

Many traders are familiar with fundamental analysis when trading stocks, but fundamental analysis can also be applied to the pricing of futures contracts. MORE

Contributed by: CME Group

What is LIBOR/What is Eurodollar

Parent Course: Introduction to Eurodollars

The Eurodollar futures contract is one of the largest and most successful interest rate-based contracts. MORE

Contributed by: CME Group

What is the Eurodollar Settlement Process (cash settled)?

Parent Course: Introduction to Eurodollars

Some futures contracts are cash-settled, others are settled via physical delivery. MORE

Contributed by: CME Group

What is the European Central Bank?

Parent Course: Learn About Key Economic Events

The European Central Bank (ECB) is the central bank of the Eurozone, a collective of European countries that use the euro as their sole official currency. The ECB is responsible for administering monetary policy and safeguarding the value of the euro. Given the relative size of the Eurosystem economy, actions undertaken by the ECB... MORE

Contributed by: CME Group

What is the Non-Farm Payroll Report?

Parent Course: Learn About Key Economic Events

One of the most important monthly economic data points in a trader’s diary is the release of the U.S. Non-Farm Payrolls Report. MORE

Contributed by: CME Group

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