Fed funds futures
E17374
Fed funds futures are exchange-traded derivatives that allow market participants to hedge or speculate on the future level of the U.S. federal funds interest rate.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Fed funds futures canonical | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T144943 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: Fed funds futures Context triple: [Chicago Mercantile Exchange, notableProduct, Fed funds futures]
-
A.
Eurodollar futures
Eurodollar futures are interest rate futures contracts based on U.S. dollar deposits held outside the United States, widely used to hedge or speculate on short-term dollar interest rates.
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B.
FED
FED is the commonly used abbreviation for the Fluids Engineering Division, a professional group focused on research and advancements in fluid mechanics and related technologies.
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C.
Federal Open Market Committee
The Federal Open Market Committee is the Federal Reserve body that sets U.S. monetary policy, primarily by directing open market operations to influence interest rates and money supply.
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D.
Federal Reserve System
The Federal Reserve System is the United States’ central banking system, responsible for conducting monetary policy, regulating banks, maintaining financial stability, and providing financial services to the government and financial institutions.
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E.
Federal Reserve Board of Governors
The Federal Reserve Board of Governors is the central governing body of the U.S. Federal Reserve System, responsible for setting national monetary policy and overseeing the country’s banking system.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: Fed funds futures Target entity description: Fed funds futures are exchange-traded derivatives that allow market participants to hedge or speculate on the future level of the U.S. federal funds interest rate.
-
A.
Eurodollar futures
Eurodollar futures are interest rate futures contracts based on U.S. dollar deposits held outside the United States, widely used to hedge or speculate on short-term dollar interest rates.
-
B.
FED
FED is the commonly used abbreviation for the Fluids Engineering Division, a professional group focused on research and advancements in fluid mechanics and related technologies.
-
C.
Federal Open Market Committee
The Federal Open Market Committee is the Federal Reserve body that sets U.S. monetary policy, primarily by directing open market operations to influence interest rates and money supply.
-
D.
Federal Reserve System
The Federal Reserve System is the United States’ central banking system, responsible for conducting monetary policy, regulating banks, maintaining financial stability, and providing financial services to the government and financial institutions.
-
E.
Federal Reserve Board of Governors
The Federal Reserve Board of Governors is the central governing body of the U.S. Federal Reserve System, responsible for setting national monetary policy and overseeing the country’s banking system.
- F. None of above. chosen
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
financial derivative
ⓘ
interest rate futures contract ⓘ |
| category | short-term interest rate futures ⓘ |
| clearing | central counterparty clearing ⓘ |
| clearingHouse |
CME Group
ⓘ
surface form:
CME Clearing
|
| contractUnit | one-month average of daily effective federal funds rate ⓘ |
| countryOfOrigin |
United States of America
ⓘ
surface form:
United States
|
| denominationCurrency |
US dollar
ⓘ
surface form:
United States dollar
|
| introducedFor | managing short-term U.S. interest rate exposure ⓘ |
| marginRequirement | exchange-determined performance bond ⓘ |
| market | CME Group ⓘ |
| maturityRange |
monthly contracts
ⓘ
multiple years ahead on the short end of the yield curve ⓘ |
| minimumPriceFluctuation |
0.005 percentage points
ⓘ
0.25 basis points ⓘ |
| participant |
asset managers
ⓘ
banks ⓘ corporate treasurers ⓘ hedge funds ⓘ proprietary trading firms ⓘ |
| priceDeterminedBy | expectations of Federal Open Market Committee decisions ⓘ |
| priceInfluencedBy |
Federal Reserve communications
ⓘ
U.S. macroeconomic data releases ⓘ inflation expectations ⓘ |
| pricingConvention | 100 minus implied average federal funds rate ⓘ |
| quotationUnit | interest rate in percent ⓘ |
| regulates | Federal Reserve monetary policy expectations ⓘ |
| regulatoryOversight | U.S. Commodity Futures Trading Commission ⓘ |
| relatedTo |
Eurodollar futures
ⓘ
SOFR futures ⓘ U.S. Treasury bill futures ⓘ |
| risk |
basis risk versus actual effective federal funds rate
ⓘ
liquidity risk ⓘ market risk ⓘ |
| riskFactor | short-term U.S. money market rates ⓘ |
| settlementMonth | calendar month ⓘ |
| settlementReference | average effective federal funds rate for contract month ⓘ |
| settlementType | cash settled ⓘ |
| tradedOn | Chicago Mercantile Exchange ⓘ |
| tradingHours | nearly 24-hour electronic trading ⓘ |
| tradingPlatform |
CME Group
ⓘ
surface form:
CME Globex
|
| typicalContractSize | $5,000,000 notional per contract ⓘ |
| underlyingInstrument |
U.S. federal funds target rate
ⓘ
effective federal funds rate ⓘ |
| usedBy |
economists to extract implied probabilities of rate hikes
ⓘ
traders to position around FOMC meetings ⓘ |
| usedFor |
hedging interest rate risk
ⓘ
inferring market-implied path of policy rates ⓘ speculating on future Federal Reserve policy ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: Fed funds futures Description of subject: Fed funds futures are exchange-traded derivatives that allow market participants to hedge or speculate on the future level of the U.S. federal funds interest rate.
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.