Euro wrap. (Chicago Mercantile Exchange's plan to trade the Russian ruble and launching of its Euro Currency Units)(Brief Article)

Futures (Cedar Falls, Iowa), April, 1998

The CME made two currency contract moves in February filing for regulatory approval to trade the Russian ruble and announcing a mid-May launch of its Euro Currency Units (ECU). The ECU will be replaced by the Euro beginning Jan. 1, 1999. In addition, the exchange will offer five new ECU cross-rate products against the British pound, D-mark, Japanese yen, Swiss franc and Canadian dollar.

The CME also announced its new Tokyo office, now separate from one it shared with the CBOT, will be headed by Yoshio Kuno, former senior vice president and general manager of BA Futures Inc.