Today we learned from multiple reports emanating from the People's Bank of China (PBoC) that the Chinese central bank is going to place a reserve requirement on offshore renminbi, still mostly traded through Hong Kong banks. The move could be aimed at discouraging speculators that continue to bet that the CNH - offshore yuan could go lower. This all…
Read moreSão Paulo-based Verde oversees about 37 billion reals ($9.2 billion) in clients' money. Reports show that Verde Asset Management, Brazil's largest hedge fund based out of São Paulo, has raised up bets against the euro as well as the Brazilian and Chinese currencies on expectations that U.S. interest rate hikes and slumping oil prices would continue…
Read moreChina’s Forex regulator said over the weekend that it will ramp up risk control efforts, push ahead with regulatory reforms and look to accelerate the development of the worlds second largest economy's Forex market further in 2016. Within the past year we have seen numerous global financial cities open up Renminbi hubs in preparation for…
Read moreToday The Financial Times (FT) made note that the gap between the Chinese renminbi’s two exchange rates (offshore RMB and onshore RMB) has widened to a record spread. This has fueled speculation that China intends to allow its currency to fall at a faster rate than has previously been seen. Since August, the People's Bank of China (PBoC) said…
Read moreHong Kong Exchanges and Clearing Limited (HKEx) announced today they will be extending incentives to solidify the development of its RMB currency futures market. Renminbi (RMB) currency futures contracts continue to serve as an effective risk management tool in periods of unexpected US dollar/Offshore RMB volatility. “As an international financial centre adjacent to Mainland China, Hong Kong…
Read moreCME Group (NASDAQ: CME) announced today that effective Sunday, January 10, 2016, for trade date Monday, January 11, 2016, and pending all relevant CFTC regulatory review periods, Chicago Mercantile Exchange Inc. shall make American-Style Weekly Options on the Russian Ruble/US Dollar (RUB/USD), Chinese Renminbi/US Dollar (RMB/USD), and Chinese Renminbi/Euro (RMB/EUR) Cross Rate futures contracts available…
Read moreTurnover of RMB Currency Futures was 243,443 contracts from January 1, 2015 to December 15, 2015, exceeding the full-year record high of 205,049 contracts in 2014.
Read moreCME Group Inc (NASDAQ: CME), the world's largest futures market is said to be exploring opportunities for growth in China and India as it searches for the best markets to enter for higher-margin products to keep up recent profit growth according to reports from Bloomberg. This year CME Group has beat out Hong Kong Exchanges & Clearing as the…
Read moreOTC Clearing Hong Kong Limited (OTC Clear), a subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx) that provides clearing services for over-the-counter, or OTC, derivatives, has welcomed Citigroup Inc (NYSE:C) as its first Clearing Member from the United States. "We are pleased to admit Citi as our first US Clearing Member following our receipt of No Action…
Read moreToday the International Monetary Fund or IMF will vote on whether to include the Chinese currency, known as the renminbi or yuan as the fifth member of its special drawing rights (SDR) currency basket. It has always been expected with the economic rise of China that the currency would eventually be included, however, China has been…
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