FTSE 100 Futures
ICEEUR:Z1!
Key Statistics
About FTSE 100 Futures
By Liveworldmarket Editorial Team · Last reviewed 27 July 2026
FTSE 100 Futures — A Practical Guide
FTSE 100 futures, traded on the ICE Futures Europe exchange under the ticker Z, track the 100 largest companies on the London Stock Exchange by free-float market capitalisation. The contract is sized at £10 × FTSE 100 index. Although the contract is GBP-denominated, the underlying index has a peculiarity: roughly 75% of FTSE 100 constituents' revenue is earned outside the UK in non-sterling currencies. That makes the FTSE 100 effectively a global revenue index priced in pounds.
Because of this currency mismatch, the FTSE 100 often moves inversely to GBP/USD. A weak pound mechanically boosts FTSE 100 in GBP terms (overseas earnings translate into more sterling); a strong pound caps the index. Traders who watch FTSE futures alongside cable (GBP/USD) and Brent crude (ICE's other flagship contract) get a complete picture of UK risk pricing.
History & contract origins
The FTSE 100 index began publication on 3 January 1984 with a base level of 1,000. FTSE futures launched at LIFFE (now part of ICE Futures Europe) on 3 May 1984 — making them one of the earliest equity-index futures in Europe. The contract has been continuously traded since.
Trading hours & session layout
ICE Futures Europe FTSE session times (IST):
| Pre-market | 12:30 IST |
| UK cash open (LSE) | 13:30 IST (winter) / 12:30 IST (BST) |
| UK cash close | 22:00 IST (winter) / 21:00 IST (BST) |
| Extended close | 01:30 IST next day |
How to read this tape
FTSE futures are most active in the 13:30 – 22:00 IST window, with a secondary tick of liquidity around US cash open (when global risk allocators rebalance). Watch the FTSE / DAX ratio: a falling ratio usually signals a stronger euro vs. sterling outlook or relative weakness in UK domestics like banks and consumer goods.
Frequently asked questions
Is FTSE 100 a UK-economy index?
Only loosely. The FTSE 100 is dominated by globally diversified names (Shell, BP, AstraZeneca, HSBC, Unilever) whose fortunes depend more on global commodity prices and EM growth than on UK domestic GDP. For UK-economy exposure, traders use the FTSE 250 instead.
Why does the FTSE 100 sometimes rise on bad UK news?
When UK news weakens GBP, the GBP-translated value of FTSE 100 constituents' overseas earnings rises, pushing the index higher. This is the so-called 'weak-pound paradox'.
Related markets
Editorial article. Information only — not investment advice. Read our Risk Disclaimer before acting on any market data shown here.
