Announced in September of last year, the deliverable renminbi futures began trading today on the CME’s Globex electronic trading network. Trading comes slightly ahead the CME Group’s initial Q2 launch date. For the launch, the CME Group posted data from the Hong Kong Monetary Authority about the renminbi offshore market which showed end of 2012 deposits at 600 billion CNH.
According to Derek Sammann, Senior Managing Director, Financial Products and Services at CME Group, CME Group “listened to its customers” and developed the product according to their needs which includes putting maturity out to three years, have it trade 23 ½ hours a day alongside other FX products, and creating both standard $100,000 and micro $10,000 lot sizes. He added that the “Renminbi market really has grown, particularly the offshore market, over the last 2 years. This is no longer a market that just trades during Asian hours. It trades during European hours and increasingly during US hours.”
Adding Liquidity is the Bank of China Hong Kong (BOCHK) which is a designated market maker for the product. Commenting on the launch, Mr David Wong See Hong, Deputy Chief Executive of BOCHK, said, "BOCHK has been taking a leading role in the development of the offshore RMB business. We are pleased to be the first bank designated as a market maker for the new USD/ CNH futures and will be committed to providing transparent and competitive markets for these contracts to help facilitate the global usage of RMB funds." The BOCHK also added “As the leader in the offshore RMB market, BOCHK has taken the lead by launching RMB deliverable forward contract and interest rate swap for investors and institutions to hedge currency and interest rate exposure while effectively managing the related risks.”
2013 Strong Volume Continues
In addition to the USDCNH launch, the CME posted that FX trading continues to be strong during February as post President’s holiday volume averaged $125 billion last week. This compares to ADV for January of $114 billion and $106 billion for 2012.
Announced in September of last year, the deliverable renminbi futures began trading today on the CME’s Globex electronic trading network. Trading comes slightly ahead the CME Group’s initial Q2 launch date. For the launch, the CME Group posted data from the Hong Kong Monetary Authority about the renminbi offshore market which showed end of 2012 deposits at 600 billion CNH.
According to Derek Sammann, Senior Managing Director, Financial Products and Services at CME Group, CME Group “listened to its customers” and developed the product according to their needs which includes putting maturity out to three years, have it trade 23 ½ hours a day alongside other FX products, and creating both standard $100,000 and micro $10,000 lot sizes. He added that the “Renminbi market really has grown, particularly the offshore market, over the last 2 years. This is no longer a market that just trades during Asian hours. It trades during European hours and increasingly during US hours.”
Adding Liquidity is the Bank of China Hong Kong (BOCHK) which is a designated market maker for the product. Commenting on the launch, Mr David Wong See Hong, Deputy Chief Executive of BOCHK, said, "BOCHK has been taking a leading role in the development of the offshore RMB business. We are pleased to be the first bank designated as a market maker for the new USD/ CNH futures and will be committed to providing transparent and competitive markets for these contracts to help facilitate the global usage of RMB funds." The BOCHK also added “As the leader in the offshore RMB market, BOCHK has taken the lead by launching RMB deliverable forward contract and interest rate swap for investors and institutions to hedge currency and interest rate exposure while effectively managing the related risks.”
2013 Strong Volume Continues
In addition to the USDCNH launch, the CME posted that FX trading continues to be strong during February as post President’s holiday volume averaged $125 billion last week. This compares to ADV for January of $114 billion and $106 billion for 2012.
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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