HSBC trades non-deliverable swaption
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The transaction involved HSBC buying a five-year option to enter into a 50 million renminbi ($6.4 million) five-year non-deliverable int-erest rate swap (NDIRS) with an undisclosed financial institution counterparty.
In August, HSBC and Standard Chartered Bank conducted the first ever renminbi non-deliverable interest rate swap transaction.
Anita Fung, head of global markets, Asia-Pacific at HSBC in Hong Kong, said: "Following the successful launch of NDIRS contracts in August, there has been a
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