On February 23, Hong Kong Exchanges and Clearing (HKEX) announced that all of its currencies** and options will be included in the list of eligible products for derivatives holiday trading from March 29, 2024. Multiple RMB derivativesIncorporate holiday deals
A total of 9 currency products will be included in derivatives holiday trading, of which 8 are RMB derivatives.
Winnie So, Group Head of Emerging Business, Fixed Income and Currencies at HKEX, said: "We are delighted to announce the expansion of derivatives holiday trading to include our popular currency** and options products, so that investors can still manage their FX risk during Hong Kong's public holidays. ”
Hong Kong is firmly positioned in the global offshore renminbiLeading position in the business center.
"The launch of derivatives holiday trading in 2022 has greatly enhanced the attractiveness and vitality of our derivatives market ecosystem. HKEX will continue to enrich its product offerings and enhance its market infrastructure, further strengthening Hong Kong's position as the world's leading offshore RMB centre and risk management centre. ”
HKEX launched Derivatives Holiday Trading in May 2022 to allow international investors to continue trading non-HKD products and related risk management on Hong Kong Stock Exchange during Hong Kong public holidays. All 39 MSCI indexes** and options contracts currently available on HKEX are available for holiday trading.
Hong Kong remains firmly in the leading position as a global hub for offshore RMB business. According to HKEX data, HKEX's average daily trading volume of RMB** in 2023 was nearly 40,000 contracts, more than double that of 2022. The brisk trading of the renminbi** also continued into 2024 and hit a record high of 77,417 contracts per day in January.
Edit: Captain's Review: Muyu.