CHICAGO and HONG
KONG and LONDON,
March 6,
2023 /PRNewswire/ -- CME Group, the world's leading
derivatives marketplace, today announced that it will launch
options on its existing U.S. Dollar / Offshore Chinese Renminbi
(USD/CNH) futures on April 3, pending
regulatory review.
"Offshore Renminbi has become a core part of global FX trading
and we're delighted to offer these options contracts to help
clients manage currency risk as China resets its economy during this period of
reopening." said Paul Houston,
Global Head of FX Products, CME Group. "Our options contracts will
offer an attractive complement to the OTC market, with price
discovery and anonymous trading on our all-to-all order book, as
well as block trading for clients who might prefer the OTC-style of
trading but stand to benefit from the efficiencies of a centrally
cleared product."
"This is an exciting and timely addition to the CME Group FX
option product portfolio as USD/CNH options have become one of the
most traded pairs in the OTC market," said Adrian Averre, Head of G10 FX Flow Options at
BNP Paribas. "We look forward to being an active liquidity provider
in the CME Group market."
"USD/CNH options provide market participants with a
powerful tool for implementing sophisticated hedging and trading
strategies around the world's second largest economy," said
Tim Brooks, Head of FX Options
Trading at Optiver. "As a result of the Uncleared Margin Rules
(UMR), more and more investors are exploring the listed options
markets. By providing liquidity in USD/CNH products from launch, we
look forward to enhancing the ability of market participants to
seize opportunities and manage their risk with confidence."
These new contracts will be listed on and subject to the rules
of CME.
About CME Group
As the world's leading derivatives
marketplace, CME Group (www.cmegroup.com) enables clients to trade
futures, options, cash and OTC markets, optimize portfolios, and
analyze data – empowering market participants worldwide to
efficiently manage risk and capture opportunities. CME Group
exchanges offer the widest range of global benchmark products
across all major asset classes based on interest
rates, equity indexes, foreign exchange, energy,
agricultural products and metals. The company offers
futures and options on futures trading through the CME Globex®
platform, fixed income trading via BrokerTec and foreign exchange
trading on the EBS platform. In addition, it operates one of
the world's leading central counterparty clearing providers, CME
Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago Board
of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are trademarks of New York
Mercantile Exchange, Inc. COMEX is a trademark of Commodity
Exchange, Inc. BrokerTec and EBS are trademarks of BrokerTec Europe
LTD and EBS Group LTD, respectively. The S&P 500 Index is a
product of S&P Dow Jones Indices LLC ("S&P DJI").
"S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are
trademarks of Standard & Poor's Financial Services LLC; Dow
Jones®, DJIA® and Dow Jones Industrial Average are service and/or
trademarks of Dow Jones Trademark Holdings LLC. These trademarks
have been licensed for use by Chicago Mercantile Exchange Inc.
Futures contracts based on the S&P 500 Index are not sponsored,
endorsed, marketed, or promoted by S&P DJI, and S&P DJI
makes no representation regarding the advisability of investing in
such products. All other trademarks are the property of their
respective owners.
CME-G
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SOURCE CME Group