HONG KONG Feb 16 The Hong Kong Exchanges and
Clearing Limited (HKEX) said on Thursday that it will
launch its renminbi currency options on March 20.
The USD/CNH options will be the first currency options
traded at the HKEX, it said in a statement on its website.
The eight contract months on the launch day will comprise
April, May, June, July, September and December 2017, and March
and June 2018.
The yuan, also known as the renminbi, fell 6.6 percent
against the dollar last year, its worst annual drop since 1994,
boosting interest in yuan derivative products to hedge currency
The new product will complement the bourse's USD/CNH futures
and other renminbi currency futures.
In 2016, the total trading volume of the HKEX's USD/CNH
futures more than doubled from the previous year to an all-time
high of 538,594 contracts, according to HKEX statistics. The
2016 notional amount totalled $54 billion.
The HKEX accounts for about two-thirds of the open interest
for all the world's exchange-traded USD/CNH futures.
(Reporting by Michelle Chen; Editing by Richard Borsuk)