CME names market makers for CME Renminbi futures
CME has announced the selection of HSBC and Standard Chartered Bank, as the first market makers for the new CME Chinese Renminbi futures contracts.
First Published by e-Forex News: October, 2006
CME has announced the selection of HSBC and Standard Chartered Bank, as the first market makers for the new CME Chinese Renminbi futures contracts. As market makers, the two banks will provide transparent and competitive markets for these contracts.<br>
HSBC and Standard Chartered Bank have a long-standing presence in China and play unique and important roles in Asian financial markets, said CF Wong, CME Managing Director for Products & Services, Asia. We believe that their role as market makers will help make these contracts attractive to market participants and build liquidity in this market. As Asia is an important region for growth for CME, this year we have already launched two contracts with major significance for Asian market participants, CME E-mini MSCI EAFE futures and CME S&P Asia 50 futures. Next month we will further broaden our FX product line when we launch CME Korean Won futures.<br><br>CME Chinese Renminbi futures contract, CME Chinese Renminbi/Euro futures contract and CME Chinese Renminbi/Japanese Yen futures contract, as well as options on these futures, will trade exclusively on the CME Globex electronic trading platform. CME will continue to solicit additional market makers for this contract.