CME and CCB sign memorandum of understanding
Offshore renminbi future contracts with physical delivery in London
CME Group and China Construction Bank (CCB) have signed a memorandum of understanding (MoU) to offer offshore renminbi future contracts with physical delivery in London.
The first of their kind, the contracts will be offered via CME Europe, the European exchange of CME Group, and supported by CCB, the sole People's Bank of China-designated clearing bank for the renminbi in London.
Physically deliverable futures contracts for USD/CNH and EUR/CNH have been available on CME Europe since April 2014
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