HIBOR futures are linked to the Hong Kong Interbank Offered Rate. There are two types of HIBOR futures: the One-Month HIBOR and Three-Month HIBOR futures contracts.
The Hong Kong Interbank Offered Rate (HIBOR) is the rate on which Hong Kong dollar-denominated instruments are traded between banks in Hong Kong. Rates (ranging from one-month to 12-month rates) are set at 11:00 am on Hong Kong business days based on HIBOR quotations provided by 20 banks designated by the Hong Kong Association of Banks.