Turkish lira trading on CME
CHICAGO - The Chicago Mercantile Exchange (CME) launched trading of Turkish lira contracts today (January 26), as it continues to expand its offerings in emerging market currencies.
The exchange had initially announced the launch - which will be denominated in the dollar and the euro, and traded on CME Globex and exchange-for-physical platforms - in October last year (FX Week, October 27).
"With the addition of these new products, we're able to expand our emerging market currency pair offering for market participants and offer increased access to the Eurasia region," the exchange said.
Each dollar contract will be worth $200,000, with the euro contracts denominated in sizes of e125,000.
CME trades about 750,000 contracts daily, with average notional daily volumes of $100 billion on 43 currency pairs in 20 currencies. The group also offers trading in 32 options pairs.
CME also plans to offer options in the lira, which will depend on the liquidity of the futures contracts.
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