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INR/USD Futures

HKEX INRUSD and INRCNH Currency Futures_Final_EN_Revised 

Commenced trading on 4 November 2019.

The growing economic interdependence of India and China, reflected by the increasing trading volumes between the two countries, has created demand for cross-border payments between China and India. The contracts are designed to support trading activities of import-export companies, provide transparency in price discovery and act as efficient tools for investors to manage their INR exposures.


Updated 12 Aug 2020


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Advantages

  • Transparency of the exchange-traded contracts
  • Capital efficiency of futures margining and low execution costs
  • Flexible collateral policy on USD and RMB margin requirements
  • Clearing house guarantee, which effectively eliminates counter-party risks between market participants
  • Risk management tool for an investment exposure to a non-deliverable currency

 

Contract Summary

Item Contract Terms
Contract INR/USD Futures
(INR = Indian Rupee /USD = US Dollar)
Trading Symbol UIN
Contract Month Spot month, the next  5 calendar months and the next two calendar quarter months
Contract Size INR 2,000,000
Price Quotation US cents per 100 INR (e.g. 155.44 US cents per 100 INR)
Minimum Fluctuation 0.01 US cents (2 decimal places)
Tick Value USD 2
Trading Hours 8:30 am - 6:30 pm (Day Session)
7:15 pm - 3:00 am (AHT Session)
(Expiring contract month closes at 3 pm on the Last Trading Day)
Final Settlement Day The first Trading Day after the Last Trading Day
Last Trading Day

Two Mumbai Business Days prior to the Last Mumbai Business Day of the Contract Month.  If it is not a Trading Day, the Last Trading Day shall be the immediately preceding Mumbai Business Day that is also a Trading Day

Final Settlement Price The reciprocal of the INR per USD (INR/1USD) reference rate published by Financial Benchmarks India Private Limited at 1:30 pm (Mumbai time) on the Last Trading Day multiplied by 10,000 and rounded to 2 decimal places
Settlement Method Cash settled in USD
Exchange Fee USD 0.60

Please click here for the disclaimer.

Margin Table

Market Makers or Liquidity Providers Information

Lists of Market Makers or Liquidity Providers in Futures Exchange Products 

Currency Futures and Options Products 

 
Providing Continuous Quotes 
   
 Market Makers / Liquidity Providers
  CFT CHI GFF GHF GKG HKB ICB JNR JPM KGI MPF NHT PHL SGS UWD YAF
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 Market Maker in Futures Exchange Products 

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

 

Additional Information on Cash Incentive Liquidity Providers
 

Market

Aggregate Market Share in October 2022^

USD/CNH Futures

4%

USD/CNH Options 49% 

Mini USD/CNH Futures

66%

INR/USD Futures 50%
 

 ^aggregate market share of liquidity providers under the Cash Incentive Program in October 2022 (information last updated on 29 November 2022)

 

 

Updated 29 Nov 2022