• IMPORTANT: Clearing and Bookkeeping Processing for USDCLP Cash-Settled FX Forwards – Effective May 16, 2011

      • To
      • Clearing Member Firms
      • From
      • CME Clearing
      • #
      • 11-157
      • Notice Date
      • 02 May 2011
      • Effective Date
      • 16 May 2011

    • On May 16, 2011, CME Clearing will begin clearing privately-negotiated deals in cash-settled (non-deliverable) spot, forward and swap transactions on the exchange rate between US Dollars (USD) and Chilean Pesos (CLP).  Deals will be submitted for clearing through CME Clearport. 

       

      Deals may be submitted for any valid value date for this currency pair, from the spot value date going out as far as two years forward.  A date is valid if it is a banking business day for both USD Dollars and Chilean Pesos.

       

      Final cash settlement will be to the spot exchange rate as determined by the Bank of Chile at 8:00 p.m. Santiago time, on the last Chilean banking business day on which transactions for the specified value date are deemed “spot”.

       

       

       

      Click here for a full text of the advisory

       

      11-157

       

       

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