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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


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Advantages

  • 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  

Please click here for the disclaimer.

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
 
  GFF GHF DAI JPM KGI NHT SGS  
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
Industrial and Commercial Bank of China (Asia) 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
 

Market

Aggregate Market Share in August 2024^

USD/CNH Futures

22%

USD/CNH Options 50% 

Mini USD/CNH Futures

52%

INR/USD Futures 31%

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

 

 

Updated 02 Oct 2024