Since July 2015, LME Clear members have been able to use Offshore Renminbi (CNH) as eligible cash collateral to cover their margin requirements.
One of the International Monetary Fund’s (IMF) "main world currencies", the renminbi was the first emerging market currency to be included in the IMF’s basket of SDR (Special Drawing Rights) currencies, underlining the rise in importance of the currency.
The renminbi has seen increased international adoption and is one of the top five global payment currencies. The renminbi service is an important component of the LME Clear collateral suite, especially given the number of Chinese firms trading on the LME.
In October 2025 LME Clear revised the interest paid on CNH held as collateral to ensure that it remains an attractive option for clearing members who want to use Chinese collateral to reduce frictional foreign exchange costs and their overall cost of trading.
From June 2026, LME Clear reduced the notice period that members needed to provide before placing or withdrawing renminbi to one business days in each instance - this was previously two business days - thereby helping to increase efficiencies in liquidity management
We work continuously with our members to help them take advantage of the opportunities arising from the renminbi’s internationalisation, and to connect market participants from the Chinese Mainland and the rest of the world.
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