Market Turnover


AUD/CNH Futures

Australia’s emergence as one of China’s largest trade partners in commodities has created strong demand for inter-currency payments between Renminbi (RMB) and Australian dollars (AUD). AUD is the 5th most traded currency in the world as well as a component of the basket of currencies referenced by China in its managed float exchange rate regime. In addition, given Australia’s vast mining and mineral operations, AUD offers diversification benefits through its strong link with commodities’ prices. HKEX’s AUD/CNH futures provide transparency in price discovery reflecting exchange rate expectations driven by market forces.

Updated 03 May 2022



  • Capital efficiency of exchange-traded futures
  • Transparent pricing in a centralised trading environment
  • Block trade facility offers OTC flexibility with minimal counterparty risk
  • Dedicated liquidity providers to provide narrow bid ask spreads
  • Same Asian time zone for liquidity aggregation


Contract Summary

Item Contract Terms
Contract AUD/CNH Futures
(AUD = Australian Dollar /CNH = RMB traded in Hong Kong)
Trading Symbol CAU
Contract Month Spot month, the next calendar month and the next two calendar quarter months
Contract Size AUD 80,000
Price Quotation RMB per AUD (e.g. RMB 4.6942 per AUD)
Minimum Fluctuation RMB 0.0001 (4 decimal places)
Tick Value RMB 8
Trading Hours 8:30 am - 6:30 pm (Day Session)
7:15 pm - 3:00 am (AHT Session)
(Expiring contract month closes at 11:00 am on the Last Trading Day)
Final Settlement Day The first Trading Day after the Last Trading Day
Last Trading Day Two Trading Days (each of which is also a Business Day) prior to the third (3rd) Wednesday of the Contract Month
Final Settlement Price WM/Reuters Intra-Day Spot Rate for AUD/USD at 11:00 a.m., multiplied by the USD/CNY(HK) Spot Rate published by the Treasury Markets Association (TMA) of Hong Kong at or around 11:30 a.m. on the Last Trading Day
Settlement Method Cash settled in RMB
Exchange Fee RMB 5.00  

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Margin Table

Market Makers or Liquidity Providers Information

Lists of Liquidity Providers in Futures Exchange Products 

Currency Futures and Options Products 

Providing Continuous Quotes   
 Liquidity Providers
USD/CNH Futures   #  #       #  
Mini USD/CNH Futures  
  #     #  
USD/CNH Options  
EUR/CNH Futures  
JPY/CNH Futures  
AUD/CNH Futures  
INR/CNH Futures  
INR/USD Futures #
CNH/USD Futures  

# refers to a Futures Exchange Participant acting as a Liquidity Provider in Futures Exchange Products under the Cash Incentive Program


Lists of Market Makers for USD/CNH Futures

Name of Market Makers Obligations
Bank of China (Hong Kong) Limited* Provide continuous quotes
ICBC International Futures Limited Provide continuous quotes
The Hong Kong & Shanghai Banking Corporation Limited^ Provide continuous quotes

* via UBS Derivatives Hong Kong Limited

^ via HSBC Broking Futures (Hong Kong) Limited

Additional Information on Cash Incentive Liquidity Providers


Aggregate Market Share in May 2024^

USD/CNH Futures


USD/CNH Options 49% 

Mini USD/CNH Futures


INR/USD Futures 37%

 ^aggregate market share of liquidity providers under the Cash Incentive Program in May 2024 (information last updated on 2 July 2024)



Updated 02 Jul 2024