First property derivative traded in Hong Kong

Sun Hung Kai Financial and ABN Amro execute swap based on residential property


Hong Kong-based financial services firm Sun Hung Kai Financial (SHKF) and Dutch bank ABN Amro have completed Asia's first property derivatives deal, a swap based on Hong Kong residential properties.

ABN Amro bought exposure to the city's housing market by paying SHKF the Hong Kong interbank offered rate (Hibor) plus an undisclosed spread for changes in the University of Hong Kong's Hong Kong island residential price index (HKU-HRPI). The deal, brokered by new joint venture GFI Colliers, had a one

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