Chicago Mercantile Exchange (CME) and Reuters have announced
plans to expand their joint FX venture in Asia Pacific, with
coverage in Tokyo, Hong Kong, Singapore and Sydney scheduled
for the next few weeks.
Kelvin Wong, SVP of marketing at Fimat Singapore, told
FO Week, "it would certainly enhance the depth of
liquidity for the Asian banks, particularly the smaller banks
and institutions, due to the removal of inter-bank credit
issues. However, the difference is that the currency futures
contract size is fixed and cash settled on a quarterly
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