CME - CME Group will roll out offshore renminbi options in April as China reopens

2023-03-06 10:37:57 ET

• CME Group ( NASDAQ: CME ) is set to launch options contracts on existing U.S. dollar/offshore Chinese renminbi (USD/CHN) futures on April 3, the derivatives exchange said Monday.
• The move, pending regulatory review, will "help clients manage currency risk as China resets its economy during this period of reopening," said Paul Houston, global head of FX Products at CME.
• The new contracts, which will be listed on and subject to CME ( CME ) rules, "will offer an attractive complement to the OTC market, with price discovery and anonymous trading on our all-to-all order book, as well as block trading for clients who might prefer the OTC-style of trading but stand to benefit from the efficiencies of a centrally cleared product," he added.
• In mid-February, CME said it will add bitcoin futures to its suite of event contracts.

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