The 2016 BIS Triannual survey indicates that volume in the U.S. dollar/Chilean peso cross grew by more than 200% over the last 10 years, reflecting the strong growth of the Chilean economy and its powerful commodity export business, as well as the growing importance of Latin America in global trade and investments.
During the same period, FX LatAm futures volume at CME Group (Mexican Peso and Brazilian Real) grew by 286%, and overall volumes by 78% as global participants took advantage of the safety, liquidity and capital efficiency of CME Group products.
For global participants looking for specific exposure to Chile, CME Group recently launched a Chilean Peso/U.S. Dollar futures contract. The contract is trading electronically on CME Globex and via blocks – with liquidity and open interest growing daily. Benefit from the on-shore liquidity provided by Chilean broker/dealer and CME Group market maker LarrainVial.
CME Globex: CHP Bloomberg: PLCA Reuters: 0#1PHC:
Bringing together market participants and their liquidity, from pension funds to banks, from hedge funds to corporates, from more than 150 countries nearly 24 hours a day, ready for market-impacting events.
Choose a block or an EFRP – where you can still privately negotiate your trades, but submit them directly into our clearing systems to free up credit lines and mitigate bilateral exposure – whether you are trading in Chile or anywhere else in the world.
Through position-netting and by utilizing the capital and margin efficiencies of cleared and listed FX:
91 Futures, 24 Options, 26 CSFs and 12 NDFs
$85 billion of daily FX volume and the firm liquidity you need to manage FX risk, from peso to pound.
|Contract Unit||50,000,000 Chilean Pesos|
|Minimum Price Fluctuation||$0.0000001 per Chilean Peso increments ($5.00/contract) also for CLP/USD futures intra-currency spreads executed electronically.|
|Price Quotation||Quoted in U.S. Dollars per one (1) Chilean Peso|
|Trading Hours||Sunday - Friday: 5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT|
|Product Code||CME Globex: CHPCME ClearPort: CHPClearing: CHP|
|Listed Contracts||Monthly contracts listed for 12 consecutive months and the next 4 March quarterly cycle months.|
|Settlement Procedures||The reciprocal of the spot exchange rate of Chilean peso per U.S. dollar, ”CLP DÓLAR OBS (CLP10),” as reported for that day by Banco Central de Chile for the formal exchange market which is available at approximately 10:30 AM Santiago time and rounded to SEVEN decimal places.|
|Termination Of Trading||Trading terminates at 09:15 Chicago time on the last Santiago, Chile business day of the month prior to the contract month.|
|Position Limits||CME Position Limits|
|Exchange Rulebook||CME 346|
|Block Minimum||Block Minimum Thresholds|
|Price Limit Or Circuit||Price Limits|
|Vendor Codes||Quote Vendor Symbols Listing|
|Settlement Method||Financially Settled|