"We are introducing three-year EFN futures to provide hedging and trading tools for participants in the Hong Kong dollar interest rate market," said Frederick Grede, chief operating officer of HKEx. "EFN futures will complement our stock, stock index, currency and interest rate products and expand our wide range of financial futures contracts."
HKEx has also planned the introduction of a block trading facility (BTF) on HKATS, the Hong Kong Futures Automated Trading System by October 29, under a six-month pilot programme.
Block trades comprise of large buy and sell orders privately negotiated apart from the public auction. HKEx believes the BTF will provide clearing house guarantees for transactions otherwise executed over-the-counter, price and execution certainty for large deals, and added liquidity and contract standardisation.