UPDATE #1: (updated August 19, 2011)
The launch of this product has been pushed back to Monday, October 17, 2011.
This change is at the request of clearing firms and customers, to provide additional time to prepare for handling the unique features of the product.
CME will also provide (a) a daily price history datafile and (b) a simple PC application, the “USDRMB Bookkeeping Calculator”. Together, these will allow firms to automatically generate the standard adjustments which will allow the products to be supported in existing bookkeeping systems without systems modifications.
This advisory describes CME’s new cash-settled FX futures on the exchange rate between the US Dollar (USD) and the Chinese Renminbi Yuan (CNY). These are referred to as USD Renminbi (CNY) Futures, and also as USD/RMB (CNY) Futures.
CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.