国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Economy

China Construction Bank and CME sign Reminbi futures deal

By Cecily Liu (chinadaily.com.cn) Updated: 2015-10-19 18:46

China Construction Bank and the derivatives marketplace CME Group signed an agreement in London on Monday to enable the physical delivery of offshore renminbi future contracts outside China for the first time.

The milestone will enable British and European-based traders of renminbi future contracts to settle their trade in Europe, and is seen as a big step for renminbi internationalization. Previously such future contracts have been settled mainly in Hong Kong, meaning European traders need to set up a bank account there.

CCB, which became an offshore renminbi clearing bank in London last year, will use its expertise for offshore renminbi clearing to settle and clear the renminbi future contracts offered via CME Europe, CME Group's European exchange.

In addition, CCB will also participate in the London Silver Pricing, which is administered by CME Benchmark Europe Limited, as well as to facilitate the trading of CME Group products for CCB's customers in China.

CCB will become the only Chinese bank to participate in the London Silver Pricing, which acts as a benchmark for global trading of silver.

Terry Duffy, Executive Chairman and President of CME Group, says his team is pleased to partner with CCB on this project. "We believe this relationship will generate multiple benefits for the marketplace and drive innovation across a range of asset classes."

Previously, physically deliverable futures contracts for USD/CNH and EUR/CNH have been available on CME Europe since the European exchange launched in April 2014, delivering into Hong Kong.

Now CME Europe plans to amend these contracts so that physical delivery will take place in London, bringing cost and time-saving advantages to market users.

"The ability to transact during London hours is of paramount importance to those institutions who value flexibility in managing their positions in markets where prices can move sharply in short periods of time," says William Knottenbelt, Senior Managing Director and Head of International, CME Group.

"CME Group and CCB have shared a strong desire to promote RMB liquidity in London. We are committed to building out the necessary infrastructure and RMB products for a thriving marketplace as well as extending our partnership into other areas."

"CCB wants to support the development of the offshore RMB market in London through our engagement with an innovative financial institution such as CME Group," says CCB's Chairman, Wang Hongzhang.

To contact the reporter: cecily.liu@mail.chinadailyuk.com

Hot Topics

Editor's Picks
...
环江| 平安县| 广元市| 百色市| 渑池县| 盘山县| 类乌齐县| 绿春县| 巢湖市| 泊头市| 丹棱县| 茶陵县| 吉木萨尔县| 延庆县| 沅陵县| 白沙| 綦江县| 勃利县| 绥阳县| 右玉县| 安陆市| 卓尼县| 临泉县| 连平县| 台北市| 闵行区| 鄄城县| 瓮安县| 中西区| 双城市| 象州县| 石河子市| 建平县| 宜春市| 那曲县| 健康| 安溪县| 祁阳县| 松潘县| 南木林县| 印江|