CME Group Announces the Expansion of its Currency Product Suite with the
Addition of Indian Rupee FX Futures Contracts
New Product Offering Aimed at Providing Global Customers Access into the Fast
Growing Indian Market
SINGAPORE, Dec. 18, 2012
SINGAPORE, Dec. 18, 2012 /PRNewswire/ --CME Group, the world's leading and
most diverse derivatives marketplace and the owner of the largest regulated
market for foreign exchange, today announced the launch of new foreign
exchange (FX) futures contracts based on theIndian Rupee (INR).The target
launch date for these contracts is for a trade date of Monday, January28,
2013. INR futures will be listed on and subject to the rules and regulations
of CME, pending regulatory approval.
The standard-sized contract will have a notionalamount of five million
rupees, while the e-micro contract will be one-fifth of the size of the
standard-sized contract, with a notional amount of one million rupees. Both
contracts will trade onCME Globex, will be cash settled at final expiry to
the reciprocal of the spot Indian rupee per U.S. dollar exchange rate as
determined and published by the Reserve Bank of India, and will feature daily
pays and collects calculated and banked in U.S. dollars.The two contract
sizes are they designed to offer greater precision for hedging currency risk
and enhanced trading flexibility, which includes existing INR offering of OTC
USD/INR Non-Deliverable Forward contracts.
"With the rapid rise in growth economies like India, there has been an
increase in demand for flexible, capital-efficient tools that market
participants can access to participate in and act on emerging opportunities,"
said Derek Sammann, CME Group, Senior Managing Director, Interest Rates and FX
Products. "Working closely with our customers, CME has developed these rupee
contracts to address their needs, and enable participation in the rapid growth
of one of the world's leading emerging markets."
The launch of the INR/USD futures contracts completes a product suite for
trading all BRIC (Brazil, Russia, India, China) currencies under the CME Group
organization. As the owner of the world's largest regulated FX marketplace,
CME Group offers a full product suite of56 futures and 31 options
contractsreflecting an average daily notional value of US$110 billion in
2012. In addition, the company provides OTC clearing services for 12 OTC
Non-Deliverable Forward currency pairs, as well as 26 Cash SettledForwards.
To view avideoon CME's newINR/USDFX futures with Derek Sammann, visit:
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
CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and
Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange
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(NASDAQ: CME) and its products can be found at www.cmegroup.com.
SOURCE CME Group
Contact: Media, Lee Meng Gan, +65 6593 5564, or Allan Schoenberg, +44 020 3379
3830, or Investor Contact, John Peschier, +1-312-930-8491, firstname.lastname@example.org,
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