South African Rand/U.S. Dollar futures

South Africa is the second largest economy in Africa with a gross domestic product of $385 billion in 2019.  Like most emerging economies, South Africa is heavily dependent on commodity prices due to its role as a major exporter of minerals and, thus, is susceptible to movements in global commodity prices.  The South African rand has depreciated more than 22% against the US dollar during 2020.  The Covid-19 pandemic has added to South Africa’s already severe economic challenges with depressed growth, large fiscal deficits, and increasing debt load.  Economists expect economic activity will fall by 7.5% in 2020.  South Africa’s inflation rate has stabilized in recent years and is expected to be around 3% in 2020 going forward.  Economists continue to report bad news about the country’s job market situation with forecasts for the country’s unemployment rate at 35.3% for 2020.

• ADV for Q2 2020 reached a record 4,099 contracts breaking the 4k barrier for the first time over a quarter
• Record ADV in June 2020 of 5,305, up 61% vs June 2019
• ZAR Futures ADV YTD 3,390, up 83% vs 2019
• ADV in notional terms (YTD 2020) at $117M; up 58% vs YTD 2019

• Liquidity is available on-screen or through a growing block market, which can be executed in trades greater than 50 lots.
• There are several new end-user participants joining our marketplace – attracted by the credit and capital efficiencies of trading Futures and CME Clearing

• 40% savings with New Zealand Dollar (NZD/USD)
• 50 % savings with Brazilian Real (BRL/USD)
• 30% savings with Australian Dollar (AUD/USD), and Norwegian Krone (NOK/USD)
• 60% Savings Mexican Peso (MXN/USD),
• 45% Savings Canadian Dollar (CAD/USD),
• 25% savings with Indian Rupee (INR/USD)
• 20% savings Swedish Krone (SEK/USD)

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