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Cleared OTC USD/CLP NDF 
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Cleared OTC USD/CLP NDF (Chilean Peso)
Product Symbol USDCLP
Venue CME ClearPort
Trading Hours CME Clearport Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Contract Unit Units of 1 U.S. Dollar in any amount down to a precision of 0.01 U.S. Dollar.
Price Quotation

Spot: 508.3000 Chilean pesos (CLP) per U.S. dollar (USD) for buy or sell

Forward: Spot =508.3000 + Forward Points= -1.0852 = 507.2148 CLP per USD for buy or sell

Swap: Spot =508.3000 CLP per USD for buy (sell)
Frwd =507.2148 CLP per USD for sell (buy)
Minimum Fluctuation 0.0001 Chilean peso per U.S. dollar, equivalent to 0.0001 Chilean peso for spot, forward and swap FX OTC cleared transactions.
Floating Price N/A
Valid Value Dates for Cash Settlement Cleared only USD/CLP spot, forwards, and swaps contracts shall be cash settled for any valid value date(s) mutually agreed to by buyer and seller, and accepted by the Exchange for the applicable currency pair as a valid value date(s) for cash settlement and clearing. In general, for any currency pair, a valid value date shall be any business day that is a banking business day in the countries of issue for both currencies. “Cleared only” spot, forward and swap transactions may be submitted for clearing on any Exchange business day.
Listed Contracts Any good cash settlement date starting with the next business day for spot and extending outward into the future two years initially for forwards.
Settlement Type (Final vs. Daily) Final settlement is by cash settlement (non-deliverable forward or NDF-style). Final settlement for USD/CLP spot transactions are concluded based on the difference between (1) the spot exchange rate of Chilean peso per U.S. dollar,”CLP DÓLAR OBS (CLP10),” as reported for the valid value date for cash settlement by Banco Central de Chile for the formal exchange market, and (2) the original trade price for each transaction, and the result divided by the CLP per USD spot exchange rate (CLP10) to convert notional CLPs to USDs. Cash settlement of cleared only transactions occurs on a net basis at the customer account level. Daily valuation of open positions by CME Clearing is by a collateralization process.
Position Accountability & Spot Position Limits For purposes of cleared only positions, the applicable position accountability level shall be in notional terms of 600 million U.S. dollars. Also, for purposes of spot limits, cleared only positions for expirations may not exceed 2 billion U.S. dollars on or after the fifth business day prior to the third Wednesday of any March, June, September or December contract month. Hedge exemptions from spot limits are available for bona fide hedgers.
Rulebook Chapter 274H
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CME.