SINGAPORE, Dec. 4, 2011 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced that it will include offshore Chinese Renminbi (CNH) in
the range of instruments to meet performance bond requirements on
all exchange futures products cleared through CME Clearing,
effective January 2012. The
company also announced with HSBC Global Banking and Markets that
HSBC Hong Kong will serve as CME's first Far East clearing
custodian in Asia.
CME Clearing and HSBC have built the operational framework
enabling HSBC Hong Kong to hold CNH deposits from CME Group clients
and to use those deposits as collateral.
Kim Taylor, President, CME
Clearing, said: "As our business in Asia grows, we are looking at ways to provide
services that fulfill the needs of our increasingly diverse
customer base. We are delighted to partner with HSBC in
Asia to inaugurate this new
service and look forward to adding further asset types and
currencies over time."
Diane S. Reyes, Global Head of
Payments and Cash Management, HSBC said: "This new partnership with
CME represents a significant development for our business and
acknowledges HSBC's leadership position in the development of the
CNH market. The agreement between CME Clearing and HSBC Hong Kong,
the first of its kind, will provide CME and its members with access
to this increasingly dynamic region."
CME Group continues to build on its commitment to its business
in the Asian region. The company has a broad presence
throughout Asia, with Asia-Pacific headquarters in Singapore, offices in Hong Kong, Seoul, Shanghai and Tokyo, and telecommunications hubs in
Kuala Lumpur, Seoul and Singapore. CME Group continues to
develop products targeted to help Asia-based investors manage their risk, and
volume originating outside the U.S. now accounts for 22 percent of
all CME Group volume.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers
together through its CME Globex® electronic trading platform and
its trading facilities in New York
and Chicago. CME Group also operates CME Clearing, one of the
world's leading central counterparty clearing providers, which
offers clearing and settlement services for exchange-traded
contracts, as well as for over-the-counter derivatives transactions
through CME ClearPort®. These products and services ensure
that businesses everywhere can substantially mitigate counterparty
credit risk in both listed and over-the-counter derivatives
markets.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the
Board of Trade of the City of
Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange,
Inc. All other trademarks are the property of their
respective owners. Further information about CME Group (NASDAQ:
CME) and its products can be found at www.cmegroup.com.
CME-G
SOURCE CME Group