Hong Kong Exchanges and Clearing Limited (HKEx) has registered the three Liquidity Providers (LPs) listed below for its planned CES China 120 Index (CES 120) futures, which will be the world's first exchange-traded futures designed to provide convenient, cost efficient and simultaneous exposure to leading China stocks from the Mainland and Hong Kong markets through a single contract.

Liquidity Providers for CES 120 Futures

• IMC Asia Pacific Ltd
• Newedge Financial Hong Kong Ltd
• Optiver Trading Hong Kong Ltd

The LPs will be required to provide continuous two-sided quotes for at least 5 contracts in at least the first two contract months with a maximum bid / ask spread of 0.5 per cent of the best bid during at least 70 per cent of all trading hours.

HKEx has been licensed to offer CES 120 futures by the index’s developer and owner, China Exchanges Services Company Limited (CESC), a joint venture of HKEx, the Shanghai Stock Exchange and the Shenzhen Stock Exchange.  CESC aims to contribute to the further internationalisation of China's capital markets and provide products and services that enable global investors to gain exposure to the country’s economy.

HKEx is preparing the market for CES 120 futures and will seek regulatory approval when the market readiness work is completed.  HKEx will be organising a series of product seminars in Hong Kong in the coming weeks for both retail and institutional investors.  In addition, HKEx plans to introduce the futures to investors in other parts of Asia, the UK and the US through product education activities and industry conferences.  The revised rollout date will be announced in due course.

For additional information on CES 120 futures, please see the HKEx news release.

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