Hong Kong’s TMA to launch official spot fixing rate

“The availability of a representative fixing for the spot USD/HKD exchange rates will be conducive to the further development of the Hong Kong dollar-rated currency products in Hong Kong,” says Eddie Tan, chairman of the TMA codes and standard committee.

The fixing is calculated by averaging the middle quotes after excluding the highest three quotes and lowest three quotes provided by a total of 20 financial institutions active in the Hong Kong dollar foreign exchange market. The panel of co

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