CME delays dollar/renminbi futures due to settlement system issues

CME's global headquarters in Chicago

CME Group has delayed the launch of its new US dollar/CNY futures contract by seven weeks as trading members interested in the contract say they need more time to reconfigure their back-end settlement system to be able to handle the new currency-quoting format, the derivatives exchange tells Asia Risk.

Initially slated for launch on August 22, CME says these new contracts, to be quoted in European terms rather than American CNY/USD terms, will now be launched on October 17 instead. Comprising a

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