Effective Sunday, November 13, 2011, for the trade date of Monday, November 14, 2011, Chicago Mercantile Exchange Inc. will offer clearing services for eight more foreign exchange ("FX") pairs for traditional over-the-counter ("OTC") cash settlement non-deliverable forward ("NDF") transactions: U.S. Dollar ("USD") / Russian Ruble ("RUB"), USD / Korean Won ("KRW"), USD / Colombian Peso ("COP"), USD / Indian Rupee ("INR"), USD / Indonesian Rupiah ("IDR"), USD / Malaysian Ringgit ("MYR"), USD / Taiwan Dollar ("TWD") and Philippines peso ("PHP") spot, forward and swap contracts, also known as non-deliverable forwards ("NDFs"). CME already introduced clearing services for traditional OTC USD/ Chilean Peso (USD/CLP) NDF transactions, beginning on Monday, April 18, 2011, as the first step of a broad product suite, and OTC USD/ Brazilian Real ("BRL") and USD/ Chinese Renminbi ("RMB" or "CNY") NDF transactions, beginning on Monday, October 31, 2011. Analogous to these OTC products that CME already offers for clearing, the eight (8) new OTC FX NDF products are eight more of the original list of 11 new OTC NDF-style products described in CME Group Special Executive Report, S-5954, dated Tuesday, September 27, 2011. The other cash settlement NDF product to be introduced at a later date is USD/Peruvian sol ("PEN").
For the full Special Executive Report, please click here (PDF).