• OTC FX Production Advisory – Cleared USD/PHP Non-Deliverable FX Forward

      • To
      • Clearing Member Firms; Back Office Managers
      • From
      • CME Clearing
      • #
      • 20-115
      • Notice Date
      • 18 March 2020
      • Effective Date
      • 18 March 2020

    • Please be advised that on March 17, 2020, the Bankers Association of the Philippines (BAP) suspended the calculation and publication of its Philippine Peso/USD exchange rate (PHP BAPPESO (PHP06)) following Philippine government actions taken in response to the current COVID-19 pandemic. Today, March 18, 2020, the BAP PHP/USD exchange rate has been published. As the situation in the Philippines may continue to evolve, CME Clearing Members are reminded that CME defines the procedures, terms and conditions of each cleared FX Contract within Chapters 600 and 601 of the CME Rulebook. This includes reference to the Relevant EMTA Template Terms that are in effect on the Acceptance (Cleared) Date of such FX Contract.

      Click here for the full text of the advisory

      20-115

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