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Moscow Launches Ruble-Renminbi Futures To "Facilitate Trade Between China And Russia"
While the west huffs and puffs, and threatens to unleash even more "costs" on Russia in the form of additional sanctions which will assure that Europe's latest deflationary recession is even more acute, an "isolated" Russia is looking to outside, and to the east, and as part of its most recent de-dollarization initiative, the Moscow Exchange announced it has started trading Chinese Renminbi-Russian Ruble currency futures.
From the press release:
From 17 March the Moscow Exchange has started trading in a futures contract on the currency pair Chinese Renminbi — Russian rouble
The launch has been driven by a substantially increasing Renminbi turnover on the Exchange, growing volume of settlement in the currency between Russia and China as well as newly arising demand for hedging of such transactions.
Andrey Shemetov, First Deputy CEO of Moscow Exchange, said:
"The launch of the CNY/RUB futures is the next step made by the Moscow Exchange to offer a full range of Renminbi instruments and hedging tools to participants. We expect that the new contract will be liquid and in-demand as other Exchange's derivatives, and facilitate the trade turnover between China and Russia".
The contract is cash-settled against the Moscow Exchange CNY/RUB fixing.
The contract's expiry dates are every 15th day of March, June, September and December.
IM size is 12%.
Metallinvestbank will act as the market maker for the contract.
Moscow Exchange's turnover in the Chinese Renminbi grew 700% in 2014 to RUB 395 bln (CNY 48 bln). The record average daily trading volume of CNY 541 mln was seen in October.
Currently, the Moscow Exchange's derivatives market offerings include nine FX futures: USD/RUB, EUR/RUB, EUR/USD, AUD/USD, GBP/USD, USD/JPY, USD/CHF, USD/UAH, USD/CAD, and USD/TRY, as well as three options: USD/RUB, EUR/USD, and EUR/RUB.
And in other news, US Treasury Secretary Jack Lew wonders why America's "international credibility and influence is being threatened"...
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bye bye dollar
Ruble + Renminbi = Rublinbi? ;-)
Looney
America is being slowly marginalized and ignored!
Well, it seems that BO has really stuck it to Putin, hasn't he?
did they ask us first?....the fucking gall of these peoples
thank you for not writing "gaul."
no sweet.......
Indeed. Enough to be divided into three parts, if needed.
...America is being slowly marginalized and ignored!
Not so slowly, it appears...
Odin-forbid what happens when the Rothschilds have no more use for middle America.
Jewish lightning on a grand scale perhaps?
Roubini?
Oblamo is smiling at another of his "achievements". That guy is detroying this country.
Let him know our support at BarrylovesReggie@clintonemail.com
NoVa
Don't forget WHO is Obama :
http://www.politifake.org/image/political/1004/the-messiah-obozo-health-...
Just checked his job approval numbers and it's trending higher. Proof that we're the smartest folk in history.
Can't wait till I can buy USDs by the bushel
So will the HFT algos have a field day with these futures as well? It's probably not a very liquid market.
Rather depends on the color and intensity quality of ones laser.
Soon an ounce will buy you a lot of dollars.
Which crashes 1st, Euro or Dollar?
Isolated.
American foreign policy....winning.... Now I wanna see Obozo try to bully the Chinese.
Obozo is waving a white flag over his anus.
Obozo wants to be President of the UN.
Well, he did say he's the President of World. The problem is people don't really take what he says seriously.
I think he takes himself seriously, and that makes it serious.
No, that makes it frightening....
Released as planned.
When are you idiots going to realize that this is all following a script between West & East.
You're being laughed at for your ignorance.
Come on ZH, stop this crap now.
Sorry ZH, I forgot who you are.
Maybe if you offered more explanation for your claim you would be taken more seriously.
https://www.corbettreport.com/chinas-swift-alternative-and-the-engineere...
Start of the 8th paragraph;
"Sadly, most alternative news outlets will end their analysis here, as if the creation of this alternate payment system in opposition to the US/EU/NATO/Israeli superpower’s hegemon is an unmitigated good. But such an analysis relies on the assumption that the BRICS resistance bloc has motivations and intentions that are truly different than the existing power structure, and not merely rivalrous to it."
Doh!
U.S. May Revoke Settlement Agreements in Currency-Rigging Probes"The Justice Department is weighing whether evidence of wrongdoing in currency trading means banks violated old deals resolving probes into the rigging of benchmark interest rates that included promises they wouldn’t break the law, said two people, who asked not to be identified because final decisions haven’t been made."
"The U.S. is negotiating with Barclays, Citigroup Inc., JPMorgan Chase & Co., RBS and UBS to resolve currency-rigging allegations, the people have said.
The department is pressing some banks to plead guilty to charges that traders colluded to rig currency benchmarks using chat rooms with names such as “The Cartel.” That case is more advanced than a parallel inquiry being conducted by the fraud section, which is examining whether banks misled clients about pricing of currency transactions, a person familiar with the matter has said."
http://www.bloomberg.com/news/articles/2015-03-17/banks-said-to-risk-old...
I doubt that anything will come of it but if they manage to jail a corporation it'll be a first.
Any settlement that allows banks to pay a little money and not admit wrongdoing is a bad deal. That needs to stop.
Well, corporations=people and people most certainly can go to prison, so, be optimistic I guess...
either way, tick tock motherfuckers...
No one will go to jail...but the bankster "suicide" death count may go parabolic one day soon.
Yea I'm not sure they realize how they sound so tongue-in-cheek with this brand of "justice."
"The U.S. is negotiating with Barclays, Citigroup Inc., JPMorgan Chase & Co., RBS and UBS to resolve currency-rigging allegations..."
Negotiating? WTF is that? So the next time one of us Plebes is investigated and is about to go to court (but never arrested), we simply NEGOTIATE our way out, and reduce the whole thing to an affordable fine? And no jail time right, since we're "Executive Officers of our Domestic LLC and people's lives depend on us", right?
"In USSA all are equal before the Law. But some are more equal."
It's plebs, I don't know why people say plebes. Are you a freshman in Obama's new citizen army? Then you can say plebes.
BTW -H.R. 748 would require all persons in the US 18-25 to perform 'national service'. This may be how they will be paying for their free college education.
"we simply NEGOTIATE our way out, and reduce the whole thing to an affordable fine? "
You mean like how the disgorgement of "profits" and the fine are >75% of a person's annual income? Unlike these banks where their fines are <1% of their annual income?
Thesr little things are starting to add up.
Thousands of geese falling from the sky, solar eclipses, super moons, spring equinox, and geomagnetic storms make for interesting times.
The signs are out there. God has spoken, God has chosen Mr. Putin to lead us to a better more bipolar world.
I can see Putin has been busy making phone calls while he vanished from the media.
Obama is one smooth MF - the more he fails the more people worship him, the less he seems to care.
Heckuva job, Barry!
Your perspective is off 180 degrees dude.
Sorry I meant that sarcastically.
Only liberals worship him because they revel in failure and destruction since they are incapable of creating or maintaining.
King Dollar: Bring It!
"experts" will be puzzled/amazed how long the DXY > 100
Well DUH! Of course! Any moron can see that when the DXY is nearly 60% composed of the EUR and the other "stellar" heavyweights are JPY, GBP and CAD.
http://en.wikipedia.org/wiki/U.S._Dollar_Index
Against that stellar lineup, of course the DXY will stay elevated. But you've clearly used your keen powers of observation and completely missed the point of the whole article/thread -- the developing alternate currency block presented by China/Russia.
Try to pay attention.
All fine and good, but who will be the first to actually back their currency with something fucking real...
What part of all fiat will die, don't people understand?
tick tock motherfuckers...
People don't understand economics or the consequences of government control. They see carrots and promises of carrots.
Well, I am starting to see many questioning the real "value" of many things now. Too many people who have done the "right" things, gone to the "right" schools, coming back to live with mom and pop with tremendous amounts of unpayable debt.
Personally I am waiting for the "Great Student Debt Forgiveness Program"...
Surprised it hasn't happened yet actually. Looks like the NSA operatives are out junking you today.
"Great Student Debt Forgiveness Program" means government paid schooling from here on forward. How can you charge the next set of students money, when the last set didn't have to pay?
Carrots or Consequences?
Edit: It'l be even better than free healthcare.
Did I throw a cold wet blanket on folks?
China and Russia with Gold, Then followed by everyone else who has some.
Bigger news this mutual nuthugging between London and China. These two conducting stroke sessions while Obozo and the Cabal are left out in the cold. Don't need to be a Nuclear Rocket Surgeon to see maybe the crooks in London want a seat at the post-reset table.
"the crooks in London want a seat at the post-reset table."
COUNTRIES WITH FANTASY CURRENCIES MEET TO DISCUSS COMMON FANTASY CURRENCY
Iran and Venezuela pushing for a new currency called Salsa Khomeini.
Source: www.financialpaparazzi.com
Looks like most of those pairs contain DOLLARS and whats that Chinese currency pegged to? Blah blah blah its all fiat created by a central oligarchy. Just what the world needs more fx derivatives. I love the fact that nobody in their right mind believes anything out of China and yet theyll be steward's of a currency that people can have faith in.
Who's printed more fiat over the last 10 years the FED or the Central Bank of China? What central bank talks a big game about reforms and yet at every turn has bailed out their banks? Its all bullshit paper backed by army's of little people, while the oligarchy laugh their collective asses off.
Mr Dollar is getting riskier to hold every day.
People can hedge against their dollars by buying Rubles while they're still cheap. Probably the deal of a lifetime.
Seriously does US has any bigger chances than Greece to repay it's debt?
US is going down.
But I don't expect US to go down quietly.
Oh I agree that it's going down. But only after all the other western welfare states go down as bankrupt socialized failures. We're still the fattest pig in the pen.
Well if you voted for Obama then you voted for the end of US dominance, nations around the world can smell death of the US dollar. It was always going to end this way with that idiot in office.
I would vote for Obama, he can't do any more damage, right? :)
Somehow, the notion of a 'slow & orderly' unwind of U.S. hegemony I think should be questioned at this point, and perhaps replaced with something like: 'How soon do the cascading event/s begin...?'
Jim Willie's 'rocket' analogy seems more appropriate by the day...
The US will simply respond with a 40% USD backing with "Gold above and below ground" (nationalize PM mines), and 60% backing with Fossil+Green Energy (Coal, Oil, Gas, Hydro, Nuclear, Solar, Wave, Wind).
That would piss off the PM speculators! It'd also piss of China, since they're already counting on buying up vast miles of precious US soil (arable land, forests and mines).
We do a American Reset '15 (AR15): "Fut you China! Good luck feeding you population. And don't even think of taking Canada. That place is our 51st State".
Next? /sarc
The pedrodollar is being attacked from all front.
Ukraine unviels Putin's Tombstone, with likeness to Hitler
http://www.reuters.com/video/2015/03/16/putins-tombstone-unveiled-in-kie...
Washington's got the biggest and heaviest stick on the block. Bring back the Draft and let's March to Moscow and Beijing now! YES, We Can (before we just can't)!
u cant.
if u could, u would be already there.
Well, I'm not eagerly anticipating the tender mercies of Beijing or the Kremlin. Not that the tender mercies of Washington have been tender or merciful either. As an American, at least I speak the language and have an engrained understanding of what to expect.
On the other hand, this thing has to go down, and I've never seen any situtation where delaying the inevitable makes for a gentler endgame.
I'm also reminded of the appallingly racist joke in which an Asian small business-owner in America takes his earnings in to the bank every day and exchanges a part for his home-nation's currency, to send back to relatives left behind. One day he gets back less than he expects. He asks the teller why the same amount of US Dollars got him more money yesterday than it did today. The teller shrugs, smiles, and says "Fluctuations." The Asian man becomes enraged and shouts "Oh, Yeah? Well flux you Americans, too!" and storms off.
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Moscow Exchange announced it has started trading Chinese Renminbi-Russian Ruble currency futures
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Is this the same 'Moscow Exchange' that suspended trading in Ruble contracts back in 1998?
Watson
Next Step for RUS:
Start selling/trading Crude in Rubles, Yuan, and Gold - then link it with CHN's Oil Bourse.
That should pretty much De-Dollarize the Silk Road's Energy Sectors and more.