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CME, the world’s largest and most diverse financial exchange and the largest regulated marketplace for foreign exchange (FX) trading, today announced the selection of five banks as the first market makers for the new CME Korean Won futures contracts. As market makers, these banks will provide transparent and competitive markets for these contracts. The banks are:
- DBS
- Korea Development Bank
- Korea Exchange Bank
- Standard Chartered Bank
- Woori Bank
“We are delighted that three of Korea’s top tier FX dealing banks, as well as two banks with a presence in multiple Asian markets, have agreed to serve as market makers for the CME Korean Won futures,” said CF Wong, CME Managing Director for Products & Services, Asia. “The introduction of CME Korean Won futures and options contracts, and last month’s launch of the CME Chinese Renminbi futures, represents a milestone in our long-term Asian growth strategy. With this contract launch, CME will offer contracts on nearly all the major currencies in the Asia Pacific region on a single trading platform.”
CME Korean Won futures and options on these futures, will trade exclusively on the CME Globex® electronic trading platform and are scheduled to began trading on Sunday, September 17, 2006 at 5:00 p.m. Central Time (Chicago), for the trade date of Monday, September 18. CME will continue to solicit additional market makers for this contract. For more information on this product, please visit www.cme.com/koreanwon.
CME offers the world’s largest regulated FX trading complex, providing users with liquid, transparent markets, guaranteed execution and central counterparty clearing risk management on 41 individual FX futures and 31 options on futures products. In the second quarter of 2006, CME FX average daily volume was 471,000 contracts, with a notional value of $58.5 billion, up 42 percent from second quarter 2005. Last year, over 51 million FX contracts with a notional value of over $6.2 trillion traded at CME.
CME (www.cme.com) is the world’s largest and most diverse financial exchange. As an international marketplace, CME brings together buyers and sellers on the CME Globex® electronic trading platform and on its trading floors. CME offers futures and options on futures in these product areas: interest rates, stock indexes, foreign exchange, agricultural commodities, energy, and alternative investment products such as weather, real estate and economic derivatives. CME is a wholly-owned subsidiary of Chicago Mercantile Exchange Holdings Inc. (NYSE, NASDAQ: CME), which is part of the Russell 1000® Index and the S&P 500® Index.
