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HK Stock Exchange To Launch RMB Futures

Tara Loader Wilkinson Editor Asia 23 August 2012

HK Stock Exchange To Launch RMB Futures

Hong Kong's stock exchange will offer trading in Chinese currency futures from next month, coming as the world's first deliverable yuan- or reminibi-denominated futures.

Hong Kong Exchanges and Clearing Ltd will introduce the futures on 17 September, a move which has been discussed since April. The futures will be quoted in yuan per US dollar. 

"These new futures are part of our strategy to offer a wide range of RMB-related products and expand beyond equities and equity-related derivatives into fixed income, currencies and commodities," said HKEx chief executive Charles Li in a statement. 

"In addition, they will help us support RMB internationalisation and Hong Kong's further development as an offshore RMB centre," Li added. 

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