Question on Futures Options types

When I use IB to select a futures option on the British Pound, for instance Globex British Pound Puts, I get two classes of options: “XB” and “6B” . Can someone explain the difference between these option types?

Thanks,
Manny

 

You want the 6B since thats the one for the Pound Futures contract. For EUR its 6E, AUD its 6A.

 

The XB class are European style options on the British Pound. European style options can only be exercised at the end of its life. The 6E class are American style options. American style options can be exercised anytime before it expires. You can get a description of these two options at the CME website.

 

Thank-you for all replies. I sure appreciate the help.