Chicago Mercantile Exchange Group announced the launch of a brand-new RMB-denominated foreign exchange futures contract yesterday. CME said that in order to meet the growing demand of global customers for RMB-denominated products, these innovative futures contracts will be quoted on interbank (European) terms, reflecting the amount of US$ 65,438+0 converted into RMB. These futures products conform to the norms of non-deliverable forward contracts in the OTC market, and at the same time can reduce the counterparty risk of exchange derivatives trading. These new currency products, which will be listed in CME and subject to its rules and regulations, will be listed and traded in CME International Money Market (IMM) on Monday, August 22nd, 20 1 1 and delivered in September, 201.

RogerRutherford, managing director of foreign exchange products of Chicago Mercantile Exchange Group, pointed out: "In view of the development of RMB in the direction of free convertibility and the increasing offshore trading volume of RMB in Hong Kong, Chicago Mercantile Exchange Group has developed these innovative new RMB futures contracts. The new RMB contract products we launched this time are closely related to mature markets and emerging markets, which reflects the consistent commitment of Chicago Mercantile Exchange Group to global customers. We believe that this new contract product will continue the success of similar products in other emerging markets. For example, our Russian ruble and Brazilian real related products have increased by 350% and 450% respectively so far this year. The significant increase in trading volume and open contracts reflects the increasing demand of our customers to reduce the credit risk of emerging market products. We believe that these new RMB futures products provide the same benefits to customers who want to control the RMB exchange rate risk. "

In order to serve the institutional and retail markets, the Chicago Mercantile Exchange Group will launch a complete USD/RMB contract and an E-micro version. These new contracts will become part of the existing RMB/USD futures contracts launched by the Chicago Mercantile Exchange Group in June 2006, which can be traded on CMEGlobex, or through CMEClearPort for bulk trading and futures spot conversion.

The Chicago Mercantile Exchange Group provides a series of global innovative products, including 54 futures and 365,438+0 option contracts. In 20 10, the daily average foreign exchange trading volume of CME was 930,000 lots, which was 49% higher than that of 2009, equivalent to the daily average nominal value of $654.38+20 billion. E Wei 20 1 1 The average daily foreign exchange trading volume in the first quarter was more than 6,900 lots, up nearly 109% compared with the same period last year.