RMB-denominated OTC derivatives poised to take off in Hong Kong

The renminbi deliverable forwards market has hit at least $28 million during the first month of trading following an agreement in July between the the PBOC and HKMA that enabled Hong Kong to act as an offshore centre for the Chinese currency.

Chinese currency

The first steps towards developing a renminbi-denominated, over-the-counter derivatives market in Hong Kong have taken place during the past month with the start of a renminbi deliverable forwards market. To date, more than $28 million of notional value of deliverable forwards has been agreed between derivatives counterparties.

The trading of deliverable forwards coincides with the establishment of deliverable deposits and spot offshore renminbi transactions in Hong Kong. This follows China's

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here