
CME introduces new forex contracts
The US dollar contracts are: US dollar/Swedish krona, US dollar/Norwegian krone.
Dealers will trade the products on the CME’s Globex electronic platform as well as on the trading floor as all-or-none transactions with a five-lot minimum. The CME currently lists three euro-based cross-rates and 13 US dollar-based forex products.
“CME has seen increased foreign exchange volume executed both electronically and on our trading floor last year as a result of offering side-by-side electronic trading of our existing FX products line,” said CME chairman Scott Gordon.
CME’s most recent volume statistics showed a total of 120.5 million contracts traded in the first quarter of this year, worth an underlying value of $86.4 trillion. This is a 30% rise from the first quarter 2001, and marks the fifth consecutive quarterly record for trading volumes.
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