One of the biggest financial market stories of the year was China’s effort to internationalize the renminbi, from new clearing arrangements to depreciating its currency in August. Two of our top financial stories of 2015 cover the topic. Other top posts include posts on retail trading, the growth of options on futures and outlook for India’s currency, the rupee.
In February, Mark Omens wrote about the new Futures Institute, an online portal aimed at training and educating retail traders to trade futures. He listed several reasons why retail traders might want to include futures in their portfolio.
We believe that in every trading portfolio, there’s a place for futures. There’s a time and a market environment where trading futures contracts may be beneficial.
The renminbi has increasingly made its presence felt in global foreign exchange markets as China continues its efforts to internationalize its currency. In January, we posted this conversation CME Group’s Malcolm Baker had with FX experts from Citi, Bank of China, Bank of America Merrill Lynch and the Treasury Markets Association.
In 2014, options trading set records at CME Group. An infographic in January showed just how big the growth was. The momentum for options continued in 2015.
Though the rupee fell against the dollar, 2015 was the year India’s economy began to outperform other BRICS nations. Malcolm Baker wrote in February why things are looking up for the economy and the currency.
While we may not yet be talking about the rupee in terms of a safe haven, we are witnessing a transformation in terms of investor confidence in the country and currency.
Following China’s devaluing of the renminbi in August, global markets went into a tailspin. CME Group’s Ravi Pandit discussed with us what this meant for the currency and for equity and FX markets.
On the one hand, the adoption of a more market-driven exchange rate is positive as it takes China further down the road of RMB internationalization and deregulation of its capital account. The shift also appears to help China satisfy conditions set by the International Monetary Fund to qualify the RMB for its “special drawing rights” basket.