The client delivers the goods when the contract expires.

The world's first RMB deliverable currency futures contract

The contract is quoted in RMB, and the deposit is collected and settled.

Investing in RMB money market or hedging foreign exchange risks

Investors can use USD/RMB futures to invest in RMB money market or RMB foreign exchange for hedging.

Since there is no restriction on the use of offshore RMB, the market can truly reflect offshore RMB.

supply and demand

Adopt the inter-bank foreign exchange quotation standard

This contract adopts the inter-bank foreign exchange quotation standard.

That is, every dollar is converted into RMB (for example, every 1 dollar is converted into RMB 6.2486).

Change dollars into RMB in kind.

On the maturity date, the spot fixing price of each dollar against RMB announced by the National Debt Market Association shall be determined according to the contents of the contract.

The contract value of USD is settled in RMB.

leverage effect

Futures contract trading takes margin as the entry threshold.

The down payment is only a small part of the contract amount.

Security deposit (about 1-2% or RMB 7,000 to 1.3 million)

High price transparency

Electronic trading platform of derivative products market of Hong Kong Stock Exchange

Provide a standardized trading market with high price transparency.

A market that gathers global participants.

Banks, funds, RMB trading users and individual investors

Gathered on the Hong Kong Stock Exchange for contract trading.

Low opponent risk

As the central counterparty of each transaction, Hong Kong Futures Clearing Co., Ltd. reduces the counterparty risk of the transaction.

Market makers provide liquidity.

The dealer will provide the market with successive counter-quotations to increase the trading volume.

Settlement, delivery and risk management arrangements

currency of settlement

Price adjustment, margin, transaction and settlement fees will be settled in RMB.

Settlement bank account

Clearing house participants need to open RMB and USD accounts in designated clearing banks.

Final settlement procedure

Participants shall make principal settlement in US dollars and RMB.

Short holders settle accounts in dollars (that is, sellers).

The long warehouse holder pays the RMB amount calculated at the final settlement price (i.e. the buyer).

Minimum settlement currency requirement

At least 50% USD/RMB futures margin in each CCMS collateral account requires the goods to be settled.

Cash payment in currency (i.e. RMB). The remaining deposit requirements can be paid by other forms of recognized collateral.