Hong Kong Monetary Authority (HKMA)
Hong Kong insurers hedge out their US dollar exposure
Insurers in Hong Kong are revising their long-term policy of not hedging out their US dollar exposures
Local trade repositories are necessary, says senior HKMA official
The benefits of local trade repositories outweigh the possible disadvantages of multiple reporting requirements, says executive director of HKMA’s financial infrastructure unit
Hong Kong dollar could be re-pegged, say traders
Recent intervention by the Hong Kong Monetary Authority to stem the strength of the Hong Kong dollar has prompted speculation the currency could be re-pegged
Offshore deliverable renminbi derivatives market grows despite fall in trade volumes
Despite a fall in offshore renminbi trade volumes, dealers say corporates are making increasing use of CNH forwards and options markets to hedge price exposure. Joti Mangat investigates
CFTC cross-border guidance a threat to ‘systemic stability’, say Asian regulators
Leading regulators from across Asia complain of the potentially negative impact of the US regulator’s latest proposals
The rise of the red-back
Moves to automate the payment process are being matched by interest in RMB trade settlement. Saima Farooqi asks how much progress has been made so far, and talks to those with a yen for yuan
FX Week China: CNH/CNY forward divergence threat has stabilised
A reversal of the spread between offshore deliverable forwards and onshore NDFs that caused pain for speculators last year is unlikely to recur, say economists
Investing in the internationalisation of the renminbi
Despite a forecast slowdown in Chinese growth in 2012, Helen Lam, senior portfolio manager at Allianz Global Investors in Hong Kong, believes the long-term internationalisation of the renminbi will lead to continued currency appreciation this year. Saima…
The year of the dim sum bond
A maturing market combined with deregulation is sustaining demand for offshore renminbi bonds in the face of slowing RMB appreciation. Saima Farooqi reports
City’s top brass throws weight behind London RMB initiative
London will become the next offshore centre for RMB trading, vows UK chancellor George Osborne, supported by banking chiefs from Bank of China, Barclays, Deutsche Bank, HSBC and Standard Chartered
Trade repositories consider connectivity options
With multiple trade repositories appearing in a number of asset classes, including foreign exchange, market participants are considering how competing repositories should collaborate to avoid data inconsistency. Chiara Albanese reports
Offshore RMB remains a challenge for corporates
UK chancellor George Osborne is pushing hard for London to become the next financial centre for the trading of renminbi, but despite the blaze of publicity surrounding his visit to Asia this week, some corporates remain daunted by the new currency…
Regulators plan co-ops as answer to OTC fragmentation
CLS Bank-style regulatory council could be applied to trade repositories and CCPs to avert market fragmentation, but French regulators are not convinced
The renminbi's road to success
The renminbi is on the up, but is it climbing fast enough? Farah Khalique talks to currency strategists and a global head of FX structuring about the performance of the currency and future trends
Spot USD/CNH fixing in HK poised to become derivatives benchmark
Hong Kong interbank participants have created the first US dollar to offshore renminbi price fixing giving the city first-mover advantage in becoming an offshore centre for renminbi products such as derivatives, say market participants
Lack of liquidity could hinder offshore RMB centres
Former US Treasury official cautious on prospects for offshore renminbi
China tests further easing of renminbi convertibility of capital account
China's State Council is advising the Shenzhen municipal government and local regulators about permitting renimibi conversion outside of currency restrictions
HKEx to launch NDF clearing facility by 2012-end
Hong Kong Exchange and Clearing (HKEx) plans to launch a central clearing facility for the local over-the-counter market, beginning with interest rate derivatives and non-deliverable forwards, by 2012-end.
Hong Kong will not abandon dollar peg: HKMA’s Chan
Hong Kong Monetary Authority chief executive Norman Chan says central bank will maintain dollar peg
Trading Places, August 16, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Emeap: Cross-border collateral may alleviate dollar funding strains
Executives’ Meeting of East Asia-Pacific Central Banks says crisis revealed shortcomings in regional money markets; swaps deals, cross-border collateral could alleviate some problems
New rules for new markets
It’s all about the emerging markets managing their exposure to the eurozone. Last week, Hong Kong and Malaysia also moved to offer a common bond-settlement system.