• ≡ İ
  • ≡ CHCAM
  • Ѷ
  • Shuzheng Health
  • Homepage
  • »
  • Chinese yuan futures debut on CME
  • Back
  • WHAT OUR CLIENTS SAY
  • "Shuzheng surpassed my expectations and took a genuine " --Tongrentang
  • "We sincerely apprec-iate the professional and courteous manner " --Jameison
  • Chinese yuan futures debut on CME
  • Futures and options on the Chinese yuan made their debut on the Chicago Mercantile Exchange (CME) this week. These are the first Asian currency derivatives to be listed on the CME, apart from Japanese yen contracts. The CME said that yuan futures and options against the dollar, yen and euro would be traded 24 hours...
  • 2006-09-05
  • Futures and options on the Chinese yuan made their debut on the Chicago Mercantile Exchange (CME) this week. These are the first Asian currency derivatives to be listed on the CME, apart from Japanese yen contracts.

    The CME said that yuan futures and options against the dollar, yen and euro would be traded 24 hours a day from Sunday afternoon in the United States to Friday afternoon on its Globex electronic trading platform.

    HSBC and Standard Chartered Bank are listed as market makers for the futures contracts.

    The size of each futures contract will be one million yuan ($125,400), the CME said. Daily settlement will be in dollars, yen or euros.

    The yuan is not fully convertible on the capital account.

    China revalued the currency and moved it from a virtually pegged rate to the dollar to managing it in a tight band against a basket of currencies in July last year.

    Gerrard Katz, regional head of currency trading for North Asia at Standard Chartered felt all types of investors could be attracted to the futures.

    The contract size is small so it could appeal to proprietary-style small traders.

    Source: Xinhua News

  • Ѷ
  • Shuzheng Health
  • HomePrivacy PolicyTerm of UsesLinks© 2017 Shuzheng Health (Beijing) Commercial Consultation Co., Ltd.