What Are Australian Dollar Futures? 6A Explained
Learn what 6A Australian Dollar futures are: 100,000-dollar contracts quoted in U.S. dollars per dollar, their $5.00 outright tick, and physical delivery.
Direct answer
Australian Dollar futures, commonly identified as 6A, are CME AUD/USD contracts with a 100,000-dollar trading unit. They are quoted in U.S. dollars per Australian dollar. On CME Globex, an ordinary outright minimum movement of 0.00005 USD per dollar equals $5.00 per contract. Consecutive-month Rule 542 spreads use 0.00001, other Rule 542 spreads use 0.00002, and ClearPort submissions use 0.00001. Standard 6A futures use physical delivery rather than cash settlement.
6A names a dated AUD/USD futures agreement, not a spot Aussie quote
6A is the product root for CME Australian Dollar futures. A complete agreement also has a contract month and year, so a value displayed beside 6A is not automatically a current spot quote for the Aussie or a perpetual currency holding. It is a labelled observation of a futures contract, and the label determines which rules and delivery process apply.
How to read Australian Dollar futures quotes shows which fields make an observation usable. Australian Dollar futures expiration and delivery explains why the named month matters when a contract approaches its exchange process.
The 100,000-dollar 6A unit converts a quoted rate into contract dollars
Chapter 255 sets one standard 6A trading unit at 100,000 Australian dollars. Because its quotation convention is U.S. dollars per Australian dollar, a change in the quoted rate changes the U.S.-dollar amount for that stated dollar unit. The contract unit describes the standardized quantity; it is not a claim about an account balance, an amount of collateral, or an appropriate order size.
Futures tick value and contract multipliers derives the 6A $5.00 outright tick from the 100,000-dollar unit. Futures position sizing treats that contract unit, the number of contracts, and an account's own limits as three separate inputs.
6A outright, spread tiers, and ClearPort each occupy their own increment
For an ordinary 6A outright trade on CME Globex, the minimum fluctuation is 0.00005 U.S. dollar per Australian dollar, or $5.00 per contract. Rule 542 then splits spreads into two tiers: consecutive calendar-month spreads may use 0.00001, or $1.00, while all other intra-currency spreads may use 0.00002, or $2.00. A transaction submitted through CME ClearPort uses a 0.00001 minimum fluctuation, or $1.00 per contract.
That three-way split mirrors the Canadian Dollar structure amended alongside 6A in 2020, so readers familiar with 6C will recognize the pattern while keeping the products distinct. Record the market path before calculating a movement or comparing two displayed prices.
Physical delivery gives the named 6A month its operational weight
Australian Dollar futures are physically delivered under the contract's procedures rather than cash settled to a single index value. The delivery design does not mean an individual account will follow one universal instruction: Chapter 255 also points to Chapter 7, and clearing and broker arrangements matter for an actual open position.
Cash-settled versus physically delivered futures draws the general settlement-design line for currency contracts, but it does not replace the 6A rulebook or account instructions for a named contract.
A workable 6A record separates quotation facts from account facts
Before relying on a 6A number, preserve the root, month-year, U.S.-dollars-per- Australian-dollar convention, trade or quote type, price field, source, timestamp, session, and data status. Futures contract month codes helps turn a compact 6A symbol into the agreement whose exchange calendar applies.
Margin is collateral, not a substitute for the 100,000-dollar contract unit or a recommendation to open a position. Futures margin versus leverage explains that distinction without inferring an account-specific requirement.
This guide explains standard Australian Dollar futures mechanics. It does not provide a live AUD/USD price, a foreign-exchange forecast, margin requirement, trade recommendation, or broker delivery instruction. Current CME rules, data terms, clearing procedures, and account documents govern a particular contract.
Common questions
What does 6A mean in futures?
6A is the CME product root for Australian Dollar, or AUD/USD, futures. Add a contract month and year to identify the particular standardized agreement.
Is 6A quoted in Australian or U.S. dollars?
6A is quoted in U.S. dollars per Australian dollar. Its standard trading unit is 100,000 Australian dollars, so both the unit and quotation convention are needed to interpret a rate.
What is the ordinary 6A tick value?
The ordinary CME Globex outright minimum movement is 0.00005 U.S. dollar per Australian dollar, equal to $5.00 per standard 6A contract.
Why can a 6A spread show a smaller increment?
Consecutive calendar-month Rule 542 spreads may use 0.00001, about $1.00, and all other Rule 542 spreads may use 0.00002, about $2.00. Neither exception replaces the ordinary outright increment.
Are Australian Dollar futures cash settled?
No. Standard Australian Dollar futures use physical delivery under their contract and delivery procedures. Current clearing and broker documents determine the handling of a particular open position.