HKEX's markets have in recent years expanded to include a greater number and variety of derivative products beyond Hong Kong dollar (“HKD”) denominated products. Many of these cover global and regional markets across different asset classes, helping further internationalise the products available to market participants.
This transformation to an internationally-focused market has played an important part in Hong Kong’s continuing development as an international financial centre, helping drive increased participation in HKEX markets from Mainland China and international investors. To maintain and strengthen this position, and allow investors to better manage or lower their overall portfolio risk, it is essential that the expanded suite of products is supported with the right infrastructure.
The ability to trade and clear, non-HKD denominated products, without being bound by HK public holidays, is of great importance for investors to effectively manage their portfolio risk.
Derivatives Holiday Trading service has commenced on 9 May 2022, with the first suite of products being all MSCI futures and options contracts. HKEX included currency futures and options contracts in Derivatives Holiday Trading starting from 29 March 2024.
List of Holiday Trading Products:
| MSCI Index Futures & Options |
| 1. |
MSCI AC Asia ex Japan Net Total Return Index Futures |
21. |
MSCI Malaysia (USD) Index Futures |
| 2. |
MSCI Australia Net Total Return (USD) Index Futures |
22. |
MSCI Malaysia Net Total Return (USD) Index Futures |
| 3. |
MSCI China A 50 Connect (USD) Index Futures |
23. |
MSCI New Zealand Net Total Return (USD) Index Futures
|
| 4. |
MSCI China (USD) Index Futures |
24. |
MSCI Pacific ex Japan Net Total Return (USD) Index Futures
|
| 5. |
MSCI China Net Total Return (USD) Index Futures |
25. |
MSCI Pacific Net Total Return (USD) Index Futures
|
| 6. |
MSCI Emerging Markets (USD) Index Futures |
26. |
MSCI Philippines (USD) Index Futures
|
| 7. |
MSCI Emerging Markets Asia ex China Net Total Return (USD) Index Futures |
27. |
MSCI Philippines Net Total Return (USD) Index Futures
|
| 8. |
MSCI Emerging Markets Asia ex Korea Net Total Return (USD) Index Futures |
28. |
MSCI Singapore Free (SGD) Index Futures
|
| 9. |
MSCI Emerging Markets Asia Net Total Return (USD) Index Futures
|
29. |
MSCI Singapore Free Net Total Return (USD) Index Futures
|
| 10. |
MSCI Emerging Markets EMEA Net Total Return (USD) Index Futures
|
30. |
MSCI Singapore Net Total Return (USD) Index Futures
|
| 11. |
MSCI Emerging Markets ex China Net Total Return (USD) Index Futures
|
31. |
MSCI Taiwan (USD) Index Futures |
| 12. |
MSCI Emerging Markets ex Korea Net Total Return (USD) Index Futures
|
32. |
MSCI Taiwan (USD) Index Options
|
| 13. |
MSCI Emerging Markets Latin America Net Total Return (USD) Index Futures
|
33. |
MSCI Taiwan Net Total Return (USD) Index Futures
|
| 14. |
MSCI Emerging Markets Net Total Return (USD) Index Futures
|
34. |
MSCI Taiwan 25/50 (USD) Index Futures |
| 15. |
MSCI Hong Kong Net Total Return (USD) Index Futures
|
35. |
MSCI Taiwan 25/50 Net Total Return (USD) Index Futures
|
| 16. |
MSCI India (USD) Index Futures
|
36. |
MSCI Thailand (USD) Index Futures
|
| 17. |
MSCI India Net Total Return (USD) Index Futures
|
37. |
MSCI Thailand Net Total Return (USD) Index Futures
|
| 18. |
MSCI Indonesia (USD) Index Futures
|
38. |
MSCI Vietnam (USD) Index Futures
|
| 19. |
MSCI Indonesia Net Total Return (USD) Index Futures
|
39. |
MSCI Vietnam Net Total Return (USD) Index Futures
|
| 20. |
MSCI Japan Net Total Return (USD) Index Futures
|
|
|
| Currency Futures & Options |
| 1. |
US Dollar vs Renminbi (Hong Kong) (“USD/CNH”) Futures |
6. |
Japanese Yen vs Renminbi (Hong Kong) (“JPY/CNH”) Futures |
| 2. |
Mini US Dollar vs Renminbi (Hong Kong) (“Mini USD/CNH”) Futures |
7. |
Indian Rupee vs Renminbi (Hong Kong) (“INR/CNH”) Futures |
| 3. |
US Dollar vs Renminbi (Hong Kong) (“USD/CNH”) Options |
8. |
Indian Rupee vs US Dollar (“INR/USD”) Futures
|
| 4. |
Euro vs Renminbi (Hong Kong) (“EUR/CNH”) Futures |
9. |
Renminbi (Hong Kong) vs US Dollar (“CNH/USD”) Futures |
| 5. |
Australian Dollar vs Renminbi (Hong Kong) (“AUD/CNH”) Futures |
|
|
Post Trade Arrangements on Holiday Trading Days
List of Holiday Trading Settlement Banks
List of Holiday Trading Exchange Participants
List of Holiday Trading Clearing Participants
Materials for Post Trade Operations Briefing (Apr 2022)
Circular - Updates on the Inclusion of Currency Futures and Options in Derivatives Holiday
Trading on 29 March 2024 (Feb 2024)
Circular - Implementation of Derivatives Holiday Trading on 9 May 2022
Frequently Asked Questions
Materials for Briefing Session (Jan 2022)
Circular - Readiness Test and Briefing for Derivatives Holiday Trading (Jan 2022)
Circular - Consultation Conclusions on Derivatives Holiday Trading and the Implementation of Derivatives Holiday Trading for MSCI Futures and Options (Jan 2022)
Consultation Conclusion (Jan 2022)
Responses to Consultation Paper (Jan 2022)
Consultation Paper (Nov 2021)