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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 03 May 2022


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Advantages

  • 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 - 6:30 pm (Day Session)
7:15 pm - 3:00 am (AHT Session)
(Expiring contract month closes at 11:00 am on the Last Trading Day)
Final Settlement Day The first Trading Day after the Last Trading Day
Last Trading Day Two Trading 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  

Please click here for the disclaimer.

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
  CFT CHI GFF GHF GKG HKB ICB JNR JPM KGI MPF NHT PHL SGS UWD YAF
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 in Futures Exchange Products 

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

 

Additional Information on Cash Incentive Liquidity Providers
 

Market

Aggregate Market Share in October 2022^

USD/CNH Futures

4%

USD/CNH Options 49% 

Mini USD/CNH Futures

66%

INR/USD Futures 50%
 

 ^aggregate market share of liquidity providers under the Cash Incentive Program in October 2022 (information last updated on 29 November 2022)

 

 

Updated 29 Nov 2022