|E-micro USD/RMB Futures|
|Contract Size||10,000 USD (≈ RMB 64,830)|
|Contract Month Listings||Twelve consecutive calendar months (Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sep, Oct, Nov, Dec)|
|Settlement Procedure||Daily E-micro USD/RMB Settlement Procedure (PDF)|
|Position Accountability Trigger Level & Spot Month Limit||USD/RMB futures converted to notional equivalents of 6,000 CME full-sized RMB/USD futures contracts (=6 billion RMB) for Position Accountability trigger level; and no more than 2,000 full-sized RMB/USD futures contracts (=2 billion RMB) for Position Limit in the spot month on or after the day one week prior to the termination of trading day.*
Positions for the same account holder will be aggregated across standard-sized and E-micros futures with 10 E-micros equaling 1 standard-sized contract.
*For example, if the appropriate RMB per USD rate is 6.4830 RMB per USD ("prior day's Regular Trading Hours settlement") , then one 100,000 USD standard futures contract would count as 648,300 RMB against the PA trigger level of 6 billion RMB. Similarly, one 10,000 USD E-micro futures contract would count as 64,830 RMB against the 2 billion RMB Spot Position Limit.
|Ticker Symbol||CME Globex Electronic Markets: MNY
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|Minimum Price Fluctuation (Tick)||Outrights quoted in 0.0001 onshore Chinese renminbi per USD = 1 CNY (≈ USD $0.16) per contract; calendar spreads quoted in 0.00005 onshore Chinese renminbi per USD = 0.50 CNY (≈ USD $0.08) per contract.|
|RMB-Denominated||Daily pays and collects calculated in RMB but translated into USD by reference to daily PBC fixing rate, and banked in USD**|
|Trading Hours||CME Globex (ETH)||Sundays: 5:00 p.m. – 4:00 p.m. Central Time (CT) next day. Monday – Friday: 5:00 p.m. – 4:00 p.m. CT the next day, except on Friday - closes at 4:00 p.m. and reopens Sunday at 5:00 p.m. (CT)|
|CME ClearPort||Sunday – Friday 5:00 p.m. – 4:15 p.m. Central Time (CT) with a 45–minute break each day beginning at 4:15 p.m. (CT)|
|Last Trade Date / Time
|Trading ceases at 9:00 a.m. Beijing time on 2nd Beijing business day immediately preceding 3rd Wednesday of the contract month (i.e., In Chicago, 7:00 p.m. CT on Sunday night during the winter and 8:00 p.m. CT on Sunday night during the summer).|
|Exchange Rule||These contracts are listed with, and subject to, the rules and regulations of CME.|
|Block Trade Eligibility||Not applicable|
|Block Trade Minimum||Not applicable|
|EFRP Eligibility||Yes. View more on EFRPs.|
|**Note that this process implies the possibility that the cumulative USD denominated pays and collects may not sum to zero even where trade is "scratched." I.e., a customer may buy (sell) and subsequently sell (buy) a contract at the same price quoted in terms of RMB per USD. However, contingent upon the path taken by exchange rates while the trade is open, these USD denominated cash flows, in total, may diverge somewhat from zero.
***Beijing time is either 14 or 13 hours ahead of Chicago (Central Time) depending on whether it is Standard or Daylight Saving Time in Chicago.