CME Group to Start Yuan Futures Contracts to Meet Global Demand
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CME Group Inc., the world’s largest futures exchange, said it will start yuan contracts to meet rising demand among global investors for products denominated in the Chinese currency.
Trading of the futures, which will be listed on the CME exchange, is due to begin Aug. 22 for September 2011 settlement, the Chicago-based group said in a statement released in Singapore yesterday. The contracts will be quoted in interbank terms, reflecting the number of yuan per dollar, it said.