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HKEX and Thomson Reuters sign Renminbi indices agreement

First Published 24th May 2016

Hong Kong Exchanges and Clearing and Thomson Reuters sign agreement for the creation of a new series of Renminbi (RMB) indices.

The new index series aims to provide benchmarks that reflect the development of the RMB's effective exchange rate against other major currencies. They are designed to be transparent, tradeable and compliant with the International Organisation of Securities Commission's principles for financial benchmark governance and administration. Details of the new index series will be announced in the next few weeks.

"We are pleased to announce new benchmarks to support the internationalisation of RMB and Hong Kong's position as a key hub for connecting international and Mainland markets and their participants," said HKEX Chief Executive Charles Li. "Our RMB indices will serve as the basis for products to help investors manage currency risk, which will help maintain HKEX's leadership in introducing RMB products for the offshore market."

"In working with Thomson Reuters, we have a partner that provides industry benchmarks for foreign exchange trading through strong connections to participants in the global foreign exchange market. This partnership will enable us to reach a broad community with indices that tell the continuing RMB internationalisation story."

"Thomson Reuters and HKEX have a long-standing partnership which dates back to the formation of HKEX and has delivered a number of industry-leading solutions," said Sanjeev Chatrath, Managing Director, Financial & Risk, Asia Pacific at Thomson Reuters. "We are pleased to further strengthen our relationship through the announcement of our new co-branded RMB index series.