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4-Traders Homepage  >  Shares  >  Stock Exchange of Hong Kong  >  BOC Hong Kong (Holdings) Ltd    2388   HK2388011192

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BOC Hong Kong (Holdings) Ltd : Bank of China (Hong Kong) designated as Market Maker for USD/ CNH Futures of CME Group

01/29/2013 | 06:57am US/Eastern


29 Jan 2013

Bank of China (Hong Kong) Limited ("BOCHK") today announced that it is designated as a market maker for the USD/ CNH (offshore RMB) futures by the Chicago Mercantile Exchange ("CME") Group, being the sole bank among the first group of market makers.

These physically deliverable contracts will start trading on the CME Globex electronic trading platform on 25 February 2013. The contracts offer nearly 24-hour a day access to investors from anywhere in the world for grasping investment opportunities in the fast-changing CNH market, providing them with greater flexibility to manage their RMB exposure and funding costs.

Mr David Wong See Hong, Deputy Chief Executive of BOCHK, said, "BOCHK has been taking a leading role in the development of the offshore RMB business. We are pleased to be the first bank designated as a market maker for the new USD/ CNH futures and will be committed to providing transparent and competitive markets for these contracts to help facilitate the global usage of RMB funds."

As the leader in the offshore RMB market, BOCHK has taken the lead by launching RMB deliverable forward contract and interest rate swap for investors and institutions to hedge currency and interest rate exposure while effectively managing the related risks. By leveraging the global service network of its parent, Bank of China, BOCHK will continue to expand its RMB product suite through innovation, providing total solutions to investors as well as corporate and personal customers.

-End-

About Bank of China (Hong Kong) Limited

Bank of China (Hong Kong) Limited ("BOCHK"), established on 1 October 2001, is a leading listed commercial banking group in Hong Kong. With over 260 branches, more than 580 ATMs and other distribution channels in Hong Kong, BOCHK and its subsidiaries offer a comprehensive range of financial products and services to personal and corporate customers. BOCHK is one of the three note issuing banks in Hong Kong. In addition, the BOCHK Group (comprising BOCHK, Nanyang Commercial Bank and Chiyu Banking Corporation) and its subsidiaries have 37 branches and sub-branches in the Mainland of China to provide cross-border banking services to customers in Hong Kong and the Mainland. BOCHK is appointed by the People's Bank of China as the Clearing Bank for Renminbi business in Hong Kong. On 13 July 2010, BOCHK was authorised as the Clearing Bank of RMB banknotes business for the Taiwan region.

BOC Hong Kong (Holdings) Limited, BOCHK's holding company, began trading on the main board of the Stock Exchange of Hong Kong on 25 July 2002, with stock code "2388", ADR OTC Symbol "BHKLY".



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