International money market (IMM) is the earliest tangible money futures market, which was established in May 1972. It is a branch of the Chicago Mercantile Exchange. At first, the main trading varieties were futures contracts of six international currencies, namely, US dollar, British pound, Canadian dollar, German mark, Japanese yen and Swiss franc. Later, options trading in the above currencies was added.

Chicago Mercantile Exchange formally established the international money market branch, and launched seven kinds of foreign exchange futures contracts, which opened the prelude to the innovation and development of the futures market. Since 1976, the forward foreign exchange market has developed rapidly, and the trading volume has increased dozens of times. 1978 the New York Mercantile Exchange has also increased its foreign exchange futures business. 1979 new york stock exchange also announced the establishment of a new exchange, specializing in foreign currency and financial futures. 1981February, the Chicago Mercantile Exchange opened the euro-dollar futures trading for the first time. Subsequently, Australia, Canada, the Netherlands, Singapore and other countries and regions also opened the forex futures trading market. Since then, the forward foreign exchange market has flourished.

London International Financial Futures Options Exchange is another important currency exchange, which was established in Ding 1982. Its main trading varieties are futures contracts and options of British pound, Swiss franc, German mark, Japanese yen and US dollar. Since then, Australia, Canada, the Netherlands, Singapore and other countries have set up a number of currency futures exchanges. Currency futures trading, but Chicago and London still have the largest trading volume.