What are Eurodollar Futures?

Hi im trying to get more information on what Eurodollar Futures are and how they work if anyone has some information about them that would be helpful...

note: not to be confused with the (Euro Spot Currency) as I know they are 2 separate instruments.

Thank you.


Cliff

http://www.cme.com/trading/prd/ir/eurodollar.html

Eurodollars are U.S. dollars on deposit in commercial banks located outside of the United States. Eurodollar deposits play a major role in the international capital market, and they have long served as a benchmark interest rate for corporate funding.

hth

ok now do Eurodollar Futures move with Bond Futures?

anotherwords if bonds go up should Eurodollar futures also go up?

CLiff

remeber, Eurodollars are just U.S. dollars in foreign banks. so if the bonds go up and so does the USD, than so will Eurodollars.