CME Group has announced that it is expanding its overall suite of Chinese Renminbi products to include Physically Deliverable Offshore Renminbi (CNH) futures. These products will be launched in the coming months and will be allocated to the IMM (International Monetary Market) Division. CNH futures will be listed on and subject to the rules and regulations of CME.
“The Renminbi market has grown significantly during the past two years, and is highly active both during as well as outside of Asian trading hours. As the Renminbi continues to internationalize, it will become increasingly important to provide global access to these products,” said Derek Sammann, CME Group Senior Managing Director, Interest Rates and FX Products.
CNH Futures will expand CME Group’s overall Chinese Renminbi product suite that currently includes both cash-settled CNY futures as well as clearing for OTC Non-Deliverable Forward (NDF) products in USD/CNY.