CME Group expands renminbi offering

Derivatives marketplace CME Group has expanded its suite of Chinese renminbi products to include Deliverable renminbi (CNH) futures.

These products will be launched in the coming months and will be allocated to the International monetary market division. CNH futures will be listed on and subject to the rules and regulations of CME.

“The renminbi market has grown significantly during the past two years, and is highly active both during as well as outside of Asian trading hours. As the Renminbi continues to internationalize, it will become increasingly important to provide global access to these products,” said Derek Sammann, CME group senior managing director for interest rates and FX products.

CNH Futures will expand CME Group’s overall Chinese Renminbi product suite that currently includes both cash-settled CNY futures as well as clearing for OTC non-deliverable forward products in USD/CNY.

CME Group offers a full product suite of 56 futures and 31 options contracts reflecting an average daily notional value of US$110 billion in 2012.

In addition, the company provides OTC clearing services for 12 OTC non-deliverable forward currency pairs as well as 26 cash settled forwards.

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