CME adds second market maker for Russian Ruble futures

FX Connect complements our overall eFX strategy with its global distribution into the Asset Management community, said David Steiner global head of eFX at SEB.

First Published by e-Forex News: April, 2006

FX Connect complements our overall eFX strategy with its global distribution into the Asset Management community, said David Steiner global head of eFX at SEB. FX Connect is offered via State Streets proprietary Global Link network, which delivers unique fact-based research, decision support tools and trading technology for six asset classes to clients in 24 countries worldwide, who collectively manage approximately 75 percent of the world's total professionally managed assets.<br><br>
A single CME Russian Ruble futures contract represents 2.5 million rubles with a notional value of approximately $86,000. Unlike most CME FX futures, this contract is cash settled so that it complies with current Russian exchange control regulations. Last year CME Russian Ruble futures and options traded $4 billion in notional value.