CME Group, China Construction Bank Sign MOU
Offshore Chinese renminbi futures contracts will now be physically deliverable into London.

As part of the agreement, CME can now offer offshore Chinese renminbi (RMB) futures contracts with physical delivery in London for the first time. The contracts will be available on CME Europe and supported by CCB.
CCB also plans to take part in London silver pricing, which is performed by CME Benchmark Europe Limited, and help its clients trade CME products.
Physically-deliverable futures contracts for USD/RMB and EUR/RMB through Hong Kong have been available on CME Europe since April 2014. The ability to offer physical delivery through London should cut down on cost and time for users.
CME and CCB also have plans to work with Chinese and UK regulators to develop RMB products in other asset classes and increase Chinese companies' and institutions' access to international capital and London markets.
"The ability to transact during London hours is of paramount importance to those institutions who value flexibility in managing their positions in markets where prices can move sharply in short periods of time," said William Knottenbelt, senior managing director and head of international for CME, in a statement. "CME and CCB have shared a strong desire to promote RMB liquidity in London. We are committed to building out the necessary infrastructure and RMB products for a thriving marketplace as well as extending our partnership into other areas."
In August, CME signed an MOU with China Foreign Exchange Trade System (CFETS).
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Waters Wavelength Ep. 311: Blue Ocean’s Brian Hyndman
Brian Hyndman, CEO and president at Blue Ocean Technologies, joins to discuss overnight trading.
WatersTechnology latest edition
Check out our latest edition, plus more than 12 years of our best content.
A new data analytics studio born from a large asset manager hits the market
Amundi Asset Management’s tech arm is commercializing a tool that has 500 users at the buy-side firm.
How exactly does a private-share trading platform work?
As companies stay private for longer, new trading platforms are looking to cash in by helping investors cash out.
Accelerated clearing and settlement, private markets, the future of LSEG’s AIM market, and more
The Waters Cooler: Fitch touts AWS AI for developer productivity, Nasdaq expands tech deal with South American exchanges, National Australia Bank enlists TransFicc, and more in this week’s news roundup.
Inside the company that helped build China’s equity options market
Fintech firm Bachelier Technology on the challenges of creating a trading platform for China’s unique OTC derivatives market.
Experts say HKEX’s plan for T+1 in 2025 is ‘sensible’
The exchange will continue providing core post-trade processing through CCASS but will engage with market participants on the service’s future as HKEX rolls out new OCP features.
‘The opaque juggernaut’: Private credit’s data deficiencies become clear
Investor demand to take advantage of the growing private credit markets is rising, despite limited data, trading mechanisms, and a lack of liquidity.