Date
27 May 2017
HKEx already offers renminbi-US dollar futures, “which are trading extremely well now and becoming really big”, Charles Li says. Photo: Bloomberg
HKEx already offers renminbi-US dollar futures, “which are trading extremely well now and becoming really big”, Charles Li says. Photo: Bloomberg

HKEx to introduce renminbi-linked currency and gold futures

Hong Kong Exchanges and Clearing Ltd. (00388.HK) will introduce renminbi-related currency futures, Bloomberg reported.

The futures contracts will cover the Chinese currency’s exchange rates against the Japanese yen, euro, Indonesian rupiah and Malaysian ringgit, HKEx chief executive Charles Li Xiaojia said at a conference in Hong Kong on Tuesday.

A renminbi-denominated gold contract is also in the works, he said.

“The cluster of all these currency instruments hopefully will create an ecosystem for China to say there is an offshore market that you can trade,” Li said.

The exchange already offers renminbi-US dollar futures, “which are trading extremely well now and becoming really big”, he said.

The bourse announced a three-year plan in January to expand ties with mainland China, including more renminbi-related products and starting a system for mainland investors to take part in the city’s initial public offerings.

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