HKEX’s Mini USD/CNH Futures Contract is off to a strong start with more than 100,000 contracts traded since it launched on 26 April. Single-day trading volume hit a record high of 11,360 contracts (notional value of US$227 million) on 13 May.
The bid-ask spreads for the spot month and next month contracts are 2-3 ticks (i.e. 0.0002-0.0003) and 4-6 ticks (i.e. 0.0004-0.0006), respectively, during T-Session. With ample liquidity and competitive bid-ask spreads, the contract can provide market participants and investors with trading convenience and flexibility, especially those with currency risk hedging needs.
The contract size of Mini USD/CNH Futures is US$20,000, or one-fifth of the size of the deliverable HKEX USD/CNH Futures, allowing more precise hedging for market participants. The contract’s initial margin and maintenance margin are RMB 2,247 per lot and RMB 1,197 per lot, respectively, as of 13 May (margin requirements may be revised from time to time).
HKEX is the only exchange in the world with a full suite of RMB currency derivatives, including physically-settled USD/CNH futures and options, USD-denominated cash-settled CNH/USD futures, as well as the new cash-settled Mini USD/CNH Futures.
Tap Read More for details of the Mini USD/CNH Futures Contract.
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