HKEX Sees 60% Uptick in RMB Currency Futures Volume in May

The average daily turnover went from 6,053 contracts in April to 9,924 contracts in May.

Hong Kong Exchanges and Clearing Limited (HKEX) has published its trading volumes for the month of May, revealing an uptick in Renminbi (RMB) currency futures during the month.

In May, the average daily turnover of RMB currency futures was 9,924 contracts for the USD/CNH currency pair. When weighed against the previous month, where an average of 6,053 contracts was traded per day, this represents an uptick of 64 percent.

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RMB Currency Futures Turnover Jumps by 60% MoM

Year-to-date, the average daily turnover of RMB currency futures on the Hong Kong exchange was 8,664 contracts. This is higher by 60 percent when measured against the 5,429 contracts traded in the same period last year.

In May, the next currency pair with the highest average daily turnover on the exchange was the Australian dollar against the CNH. Specifically, the average daily turnover for RMB currency futures for the AUD/CNH pair was 107 contracts, an increase of 12.6 percent month-on-month.

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The total number of futures contracts traded during the month of May was 568,290. This represents an increase of 14.8 percent when compared with the 495,198 traded in April of 2019.

The total number of options contracts traded during the month of May on the HKEX was 740,504. This represents a climb of 15.7 percent month-on-month, up from April’s 639,7774 contracts traded.

The average daily turnover for RMB Currency Futures USD/CNH options in May on the exchange managed to rise from the 68 contracts in June to 107 contracts in May. As a percentage, this translates to month-on-month growth of 107 contracts.

Taking a look at equity index futures, the average daily turnover for the first five months of this year on HKEX was 497,847 contacts. Weighing this against the same period of last year, it is only slightly higher by 2 percent.

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