2012-10-17

Yuan futures arrive

The internationalization of the yuan contiunes......
Yuan Steps into Futures on Hong Kong Platform
China's internationalization of the yuan, also called the renminbi, is gaining pace now that the operator of the Hong Kong Stock Exchange has unveiled the world's first deliverable offshore yuan futures.

CME Group Inc., the largest U.S. futures exchange operator, said it would launch deliverable offshore yuan futures, similar to those in Hong Kong but with longer maturities, in Chicago by the end of this year to complement its portfolio of yuan-traded products, which currently includes only cash-settled onshore yuan futures and non-deliverable forwards (NDFs).

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