Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce it will launch Indian Rupee (INR) Currency Futures in the fourth quarter of this year. These new contracts will further expand HKEX’s suite of derivatives products, providing additional risk management opportunities for customers worldwide.
HKEX plans to introduce two new futures contracts: the INR vs US Dollar (INR/USD) Futures; and the INR vs Renminbi traded in Hong Kong (INR/CNH) Futures. The INR/CNH Futures contract will be the first of its kind globally.
“The launch of the INR Currency Futures is part of HKEX’s ongoing strategic commitment to bolster Hong Kong’s role as the region’s premier FX and fixed-income trading hub,” said Julien Martin, HKEX’s Head of Fixed-Income and Currencies (FIC).
“We are pleased to further extend our FIC product offering and to provide market participants additional risk management tools on a broader range of currencies,” he said.
HKEX launched its first currency futures contract, the USD/CNH Futures, in 2012, and has since been expanding its currency derivatives market, with nearly 140 brokers offering its FX products to a diverse group of customers.
Trading in currency derivatives products is open during the Day Trading Session as well as the Afterhours Trading Session, which recently added two further hours of trading, to end at 3 am Hong Kong time.
In addition to the USD/CNH Futures, HKEX also offers contracts with the CNH vs the Australian dollar, the Euro, and the Japanese yen. In 2017, it also launched USD/CNH options contracts.
The launch date of INR Currency Futures will be announced in due course, and is subject to regulatory approval.
Details of the INR Currency Futures are available in this circular.
Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets. HKEX is the world’s leading IPO market and as Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.
HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited. This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange, in China, in 2018.
HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.