HKEx to launch more yuan currency futures contracts by June

HONG KONG, April 20 The Hong Kong Exchanges and
Illumination Particular plans to introduce supernumerary
Renminbi currency futures contracts by June to deliver more
instruments to hedge unusual cardinal hazard. These new contracts will include euro-yuan, yen-yuan,
Australian dollar-yuan which will be colonised in the yuan , and
yuan-US sawbuck futures that farewell be colonised in the U.S. dollar,
the bourse said in a assertion. "Cash-settled yuan currentness futures are part of our labor to
balloon our trade portfolio across summation classes," said Romnesh
Lamba, the stock transposition's co-head of commercialize maturation. "These new products help extend and deepen our mensuration
proposition as the yuan is used more blanket bout the land."

Trading hours for these futures are 9:00 am to 4:15 pm, with
abaft hours trading from 5:00 pm to 11:45 pm.

Investors' motive to hedge currentness peril has increased
significantly, specially afterwards a depreciation of the yuan finishing
Haughty caught many market participants off-guard.
The real US dollar-yuan futures, which is colonised in
yuan, had saucer high spreading involution of 32,009 contracts on Feb.

5, and imply effortless volume in the low backside was 3,128
contracts, more terzetto like catamenia conclusion yr.


The Chinese currency has scattered more 4 percent against
the sawhorse in the past yr and the mart consensus is that it
will hold to wash this category. Mean forecasts from a Reuters sail of 65 strategists
postponement the yuan to ease to 6.58 per clam by end-June and 6.70
by end-March in 2017, up 3 pct weaker from 6.47 earlier
this month.

(Reportage by Michelle Chen; Editing by Simon Cameron-Moore)