China is the world’s second largest economy with a nominal gross domestic product of $14.1 trillion in 2019. In order to prevent a second Covid-19 wave, China has tightened coronavirus restrictions in Beijing and other cities where further outbreaks have occurred. The People’s Bank of China has launched a $79 billion stimulus effort to help companies stricken by the virus. The central bank also lowered the reserve requirement ratio by one percent while cutting the interest rates on its relending and rediscounting facilities in July. Economists expect China’s real GDP growth to be only one percent in 2020. Chinese GDP was down -6.8% during the first half of 2020. Analysts estimate at least an additional 22 million workers will lose their jobs in 2020, pushing up the Chinese unemployment rate to around 10%. Around 250 million workers are expected to experience significant wage cuts between 10 to 50% this year.
- 2024 average daily volume of $350M (as of Nov 2024)
- 2024 average daily open interest of $565M (as of Nov 2024)
- Single-day trading volume record of $2.4B on Oct 7, 2024
- Cash-settled against WMR mid-rate at 2:00 p.m. Hong Kong time
- Monthly expiries
- Hedging and risk management opportunities based on the offshore RMB curve.
- Multiple contract sizes allow for increased trading flexibility and broader market participation.
- Block trading eligibility of standard size contracts, with maturities out three years to more effectively manage long-term exposure.
- Nearly 24-hour access to one of the world’s fastest growing currencies through CME Globex.
- 50% savings with Australian dollar (AUD/USD) futures
- 50% savings with Norwegian Krone (NOK/USD) futures and Swedish Krona (SEK/USD) futures
- 50% savings with Gold futures
- 35% savings with Copper futures
- Up to 70% savings with Shanghai Gold futures
- 25% savings with Soybean futures
Standard futures
CME Globex: CNH Bloomberg: CHYA Curncy Reuters: 0#CNC:
Block minimum threshold: 10
Available in Monthlies and Quarterlies
Micro futures
CME Globex: MNH Bloomberg: MHYA Curncy Reuters: 0#MNH
Bringing together market participants and their liquidity, from pension funds to banks, from hedge funds to corporates, from more than 150 countries nearly 24 hours a day, ready for market-impacting events.
Choose a block or an EFRP – where you can still privately negotiate your trades, but submit them directly into our clearing systems to free up credit lines and mitigate bilateral exposure – whether you are trading in Asia or anywhere else in the world.
Through position-netting and by utilizing the capital and margin efficiencies of cleared and listed FX:
55 Futures, 24 Options, 26 CSFs and 12 NDFs
$100 billion of daily FX volume and the firm liquidity you need to manage FX risk, from Peso to Pound.
US Dollar/Offshore Chinese Renminbi (USD/CNH) Futures
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- ZAR/USD Largest off-shore liquidity pool, margin offsets up to 35%
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- RUB/USD Largest off-shore liquidity pool, up 9.3% YTD
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