BEIJING, Oct. 18 (Xinhua) -- The Asia Pacific Exchange (APEX) in Singapore recently announced that it will start to trade U.S. dollar-offshore RMB exchange rate future contracts from October 19.
The size of each APEX U.S. dollar-offshore RMB exchange rate futures contract is 10,000 U.S. dollars, and it is settled with offshore Renminbi in cash.
On the first day of listing, there will be four weekly contracts that will expired in four consecutive weeks, three monthly contracts and three quarterly contracts that expire in the third week of each month.
At present, the existing contract size of U.S. dollar- offshore RMB exchange rate futures on the market is 100,000 U.S. dollars, and the shortest period of the contract is mainly one month.
Market analysts say that the two-way volatility of the RMB exchange rate market has become more and more obvious in recent years. Contracts with different maturities can be more sensitive to exchange rate fluctuations, and smaller contract scales can more accurately meet the hedging needs of market players.
(Edited by Yang Qi, kateqiyang@xinhua.org)
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