The Hong Kong Exchanges and Clearing Limited plans to introduce additional Renminbi currency futures contracts by June to provide more instruments to hedge foreign exchange risk. These new contracts will include euro-yuan, yen-yuan, Australian dollar-yuan which will be settled in the yuan, and yuan-US dollar futures that will be settled in the US dollar, the bourse said in a statement.
"Cash-settled yuan currency futures are part of our plan to expand our product portfolio across asset classes," said Romnesh Lamba, the stock exchange's co-head of market development. "These new products help extend and deepen our value proposition as the yuan is used more widely around the world."
Trading hours for these futures are 9:00 am to 4:15 pm, with after hours trading from 5:00 pm to 11:45 pm.
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