Zimmermann International Group, one of the world’s most distinguished and most diverse commodity and derivatives marketplace, specializing on commodity and foreign exchange services, announced today the launching of a new foreign exchange futures contracts which will exclusively based on Japan’s Yen and China’s Yuan.
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In order to meet the increasing demands from its global clients for products denominated both in Japan and Chinese currency, these new and ground-breaking foreign exchange futures contracts will be quoted in European terms replicating the number of Chinese Yuan and Japanese Yen per US dollar.
These futures foreign exchange products are in agreement with the over-the-counter market principles for non-deliverable forwards while offering the advantages of counterparty risk alleviation from exchange traded derivatives. These new currency products, which will be soon listed on and will be subject to the existing rules and regulations of the firm’s affiliated exchange will be launched early in the last trading quarter of the current year and will be allocated to the International Monetary Market Division.
Given the Yen and Yuan’s advancements towards better convertibility and the increasing international trade of the currency in Japan and China, Zimmermann International Group has created and developed these new futures foreign exchange contracts to further facilitate our clients to more efficiently manage their risk related to currency trading with counterparty risk alleviation benefits of an exchange-traded products,” said Gabriel Chan, Managing Director of Zimmermann International Group Foreign Exchange Products and Services.
“The launching of our new foreign exchange futures contracts particularly on Yen and Yuan currency determines our ongoing commitment to our global clients by introducing and developing new products that are appropriate both to the existing and emerging markets. We see considerable success of these new contracts following the same pattern to that of our recently introduced emerging markets products which have seen tremendous growth for the past years,” said Chan.
“These significant growth in both open interests and volumes indicate growing demands for credit risk alleviation in emerging market products, and we firmly believe that our new Yen and Yuan futures foreign exchange products can offer the same advantage for our clients who are managing the same currency risk; thus we pursue this new contracts to be offered worldwide,” added Chan.