- Sixth calendar quarter month contract and 19 calendar spreads to be added
- Full combo suite of 45 calendar spreads between any two contracts to be offered
- Changes take effect from 19 June 2018
Hong Kong Exchanges and Clearing Limited (HKEX) announced today (Tuesday) that it will offer the sixth calendar quarter month contract and 19 additional calendar spreads for its USD/CNH Futures (US dollar/Offshore Renminbi, or RMB, Futures) from the day trading session on 19 June 2018.
The addition of the sixth calendar quarter month will extend USD/CNH Futures’ coverage to a maximum of 22 months through 10 contracts. This will allow market participants to better gain or manage long-term RMB exposure.
Contract months from 19 June 2018 (day session)
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Spot Month
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Next 3 Calendar Months
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Next 6 Calendar Quarter Months
(new contract in bold)
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Jul-18
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Aug-18; Sep-18; Oct-18
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Dec-18; Mar-19; Jun-19; Sep-19; Dec-19; Mar-20
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To facilitate spread trading and calendar rolling, 19 additional calendar spreads will be introduced. This enhancement will create a full combo suite of 45 calendar spreads between any two USD/CNH Futures contracts.
“These changes are in response to demand from market participants and the good reception to the additional contract months introduced for other products in our derivatives market,” said Li Gang, HKEX’s Co-head of Market Development.
USD-CNH Futures trading at HKEX rose sharply in the first four months of the year with an average daily volume of 5,276 contracts, an increase of 78 per cent from the full year of 2017.
Additional information is available in a circular HKEX issued today.
Ends