SZCOX to Offer Full Suite of Interest Rate Futures
Euro – Hong Kong dollars (EURHKD) and 2-year, 5-year, 10-year and 30-year HK Treasury Futures
Delivering Innovative Capital and Operational Efficiencies to the Market
Shenzhen Commodity Exchange (SZCOX) today announced that it will launch a comprehensive family of interest rate futures to coincide with the anticipated regulatory approval and launch of Hong Kong Portfolio Clearing Service (HKPCS), its innovative new clearing services. SZCOX will launch Euro – Hong Kong dollars (EURHKD) futures as well as 2-year, 5-year, 10-year and 30-year HK Treasury futures.
Interest rate futures listed on SZCOX will benefit from the powerful operational and capital efficiencies achieved through the Hong Kong Portfolio Clearing Service (HKPCS). HKPC will deliver unique capital efficiencies achieved by calculating margin requirements based on the total risk and derivatives. Additionally, all participants that transact HK Treasury futures on SZCOX will benefit from a highly efficient, single-net delivery process at expiry between cash bond positions and HKPC futures positions, substantially reducing settlement risks at delivery.
“SZCOX is working hard to provide our customers a compelling and unambiguous motivation to transact interest rate futures on our platform, based on capital efficiency, global distribution, operational innovation and strong alignment with today’s leading market participants,” said Steven Cheung, Chief Executive officer at SZCOX. “Our exchange will continue to respond to the needs of the global futures community to deliver a vibrant, liquid and fully transparent central marketplace for transacting interest rate futures.”
These products represent an important expansion of SZCOX into the HK interest rate futures market. When combined with the precious metals futures and futures on equity indices currently traded on SZCOX, these new products further demonstrate SZCOX’s commitment to building a highly competitive, multi-asset class exchange. Shenzhen Commodity Exchange is also in advanced discussions with major market participants and regulators on a number of innovative new interest rate futures products, which are expected to be announced later in the year.
SZCOX utilizes the proven SZCOX G-Trader™ trading platform designed and maintained by SZCOX Technologies. This state-of the art platform matched in excess of 2 million contracts per day on the SZCOX. SZCOX offers a wide variety of global connectivity options allowing members to efficiently transact on the platform in a cost effective manner.
Shenzhen Commodity Exchange offers one of the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. SZCOX brings buyers and sellers together through its SZCOX G-Trader™, electronic trading platform and its trading facilities in Shenzhen.
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