Chadv11-240 - CME Group

IMPORTANT: Clearing Processing for USD Renminbi (CNY) Futures with USD Banking - Effective August 22, 2011
- - To
  - Clearing Member Firms, Back Office Managers
- - From
  - CME Clearing
- - #
  - 11-240
- - Notice Date
  - 13 July 2011
- - Effective Date
  - 22 August 2011
- UPDATE #1: (updated August 19, 2011)
  
  The launch of this product has been pushed back to Monday, October 17, 2011.
  
  This change is at the request of clearing firms and customers, to provide additional time to prepare for handling the unique features of the product.
  
  CME will also provide (a) a daily price history datafile and (b) a simple PC application, the “USDRMB Bookkeeping Calculator”. Together, these will allow firms to automatically generate the standard adjustments which will allow the products to be supported in existing bookkeeping systems without systems modifications.
  
  This advisory describes CME’s new cash-settled FX futures on the exchange rate between the US Dollar (USD) and the Chinese Renminbi Yuan (CNY). These are referred to as USD Renminbi (CNY) Futures, and also as USD/RMB (CNY) Futures.
  
  For the full text of the advisory, click here.

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