In response to the increasing RMB-denominatedasset and the trend of the internationalization of RMB, TAIFEX is to launch two USD/RMB FX futures to provide investors with a standardized and leveraged risk management tool, and to promote the diverse development of the offshore RMB market in Taiwan.
USD/CNT FX futures (RTF) and USD/CNH FX futures (RHF) are with contract sizes of USD 20,000 and USD 100,000 respectively. For the final settlement price (FSP), the USD/CNT FX futures will use the spot USD/CNY(TW) fixing published by Taipei Foreign Exchange Market Development Foundation, while the USD/CNH FX futures will go for the spot USD/CNY(HK) fixing of the Treasury Markets Association of Hong Kong. Trading hours for both contracts is from 08:45 to 16:15 and will cover the trading hours of Taiwanese interbank spot FX market.
The launch date for both RMB FX futures is pending regulatory approval.