Market Turnover


EUR/CNH Futures

The growing importance and mutual recognition of the European Union (EU) and China as major trading partners have created rising demand for capital-efficient risk management tools to hedge Renminbi (RMB) currency risk against Euro (EUR). Furthermore, one of the China’s RMB exchange rate reforms is the development of a managed float regime with reference to a basket of currencies, including the EUR. Against that backdrop, HKEX’s EUR/CNH futures provide transparency in price discovery reflecting exchange rate expectations driven by market forces.

Updated 12 Aug 2020



  • Capital efficiency of exchange-traded futures
  • Transparent pricing in a centralised trading environment
  • Block trades off r OTC flexibility with minimal counterparty risk
  • Dedicated liquidity providers to provide narrow bid ask spreads
  • Evening trading covers European business hours


Contract Summary

Item Contract Terms
Contract EUR/CNH Futures
(EUR = Euro /CNH = RMB traded in Hong Kong)
Trading Symbol CEU
Contract Month Spot month, the next calendar month and the next two calendar quarter months
Contract Size EUR 50,000
Price Quotation RMB per EUR (e.g. RMB 6.8028 per EUR)
Minimum Fluctuation RMB 0.0001 (4 decimal places)
Tick Value RMB 5
Trading Hours 8:30 am - 4:30 pm (Day Session)
5:15 pm - 3:00 am (AHT Session)
(Expiring contract month closes at 11:00 am on the Last Trading Day)
Final Settlement Day The first Hong Kong Business Day after the Last Trading Day
Last Trading Day Two Hong Kong Business Days prior to the third (3rd) Wednesday of the Contract Month
Final Settlement Price WM/Reuters Intra-Day Spot Rate for EUR/USD at 11:00 a.m., multiplied by the USD/CNY(HK) Spot Rate published by the Treasury Markets Association (TMA) of Hong Kong at or around 11:30 a.m. on the Last Trading Day
Settlement Method Cash settled in RMB
Exchange Fee RMB 5.00  

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Margin Table

Market Makers or Liquidity Providers Information

Lists of Market Makers or Liquidity Providers in Futures Exchange Products 

Currency Futures and Options Products 

Providing Continuous Quotes 
 Market Makers / Liquidity Providers
USD/CNH Futures * # * * # * *   *       * * * #
Mini USD/CNH Futures # #  
    # #   # #      
USD/CNH Options
                *     *    
EUR/CNH Futures                       *    
JPY/CNH Futures                       *    
AUD/CNH Futures                       *    
INR/CNH Futures
INR/USD Futures # *  
      *     # * #    
CNH/USD Futures                       *

* refers to a Futures Exchange Participant acting as a Market Maker or Liquidity Provider in Futures Exchange Products 

# refers to a Futures Exchange Participant acting as a Market Maker or Liquidity Provider in Futures Exchange Products under the Cash Incentive Program


Additional Information on Cash Incentive Liquidity Providers


Aggregate Market Share in Oct 2021^

USD/CNH Futures*


Mini USD/CNH Futures


INR/USD Futures 46%

 ^aggregate market share of liquidity providers under the Cash Incentive Program in Oct 2021 (information last updated on 6 December 2021)

 *Include block trade volumes executed under the Open Interest Promotion Program



Updated 06 Dec 2021