Growth of RMB Brings Changes to FX Markets

LONDON, March 19, 2014 /PRNewswire/ -- A new research report – Offshore Chinese Renminbi Market (CNH) – from CME Group, the world's leading and most diverse derivatives marketplace, looks at recent developments and how they are changing the character of the RMB markets and of the FX markets in general.

The People's Republic of China (PRC) has been pursuing the internationalization of the Chinese yuan or renminbi (CNY or RMB) since the financial crisis of 2008. On July 19, 2010, People's Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA) jointly announced that RMB may be deliverable in Hong Kong, dubbed the "CNH" market, which has attracted widespread interest and activity.

The CNH market has grown rapidly to the extent that some 146 authorized Hong Kong institutions held some 860.472 billion CNH, or the equivalent of $141.8516 billion USD, in time and demand deposits as of December 2013. These developments merit close consideration in light of the economic significance of the PRC now and continuing into the future.

You can download the full report here: http://www.cmegroup.com/education/featured-reports/offshore-chinese-renminbi-market.html.

Last year, CME FX launched USD/CNH futures contracts for customers to gain greater capital efficiency and flexibility for managing exposure to the expanding offshore Chinese Renminbi (CNH) market with physically delivered USD/CNH futures. You can learn more here: http://www.cmegroup.com/trading/fx/usd-renminbi-futures.html

NOTE: This research report has been prepared on the basis of information obtained from sources which are believed to be reliable, but no representation or warranty is offered as to its accuracy or completeness. The opinions contained in the research report represent the views of its authors as of the date of publication and may be subject to change without prior notice. Nothing in the report should be considered or relied upon as investment advice or as the basis for trading.

About CME Group
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate.  CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the world's leading central counterparty clearing providers, which offers clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.

CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are registered trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. KCBOT, KCBT and Kansas City Board of Trade are trademarks of The Board of Trade of Kansas City, Missouri, Inc. All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com.

14-36

Logo - http://photos.prnewswire.com/prnh/20140123/AQ51408LOGO

SOURCE CME Group



More by this Source


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.