With the acceleration of the internationalization of the Renminbi (RMB), the international status of the RMB has been on the rise. The RMB is widely used in global trade and investment, and increasingly becoming one of the important international reserve currencies. The pace of reform of the RMB exchange rate regime is gaining momentum at the same time with greater international trade flows, resulting in trends of higher volatility and increased fluctuation in both directions of the exchange rate.
|APEX USD/CNH Futures Contract Specifications|
A Contract is denoted as UCyymmW#, where “yy”, “mm” and “W#” refer to the year, month and the ordinal week of that month on which the Contract shall expire. For symbology purposes, the first week of a month is the first week of that month with a Wednesday.
e.g. UC1901W3 refers to a Contract that is to expire on the third week of January 2019.
|Contract Size||USD 10,000|
|Price Quotation||CNH per USD|
|Minimum Price Fluctuation||CNH 0.0001 (4 decimal places)|
|Tick Value||CNH 1|
The Exchange shall list 4 Contracts which shall expire in the next 4 near-term consecutive weeks, followed by another 3 Contracts which shall expire in the third week of each of the next 3 consecutive months, followed by another 3 Contracts which shall expire in the third week of each of the next 3 quarterly months (March, June, September and December).
Upon the expiration of a Contract, the Exchange shall list a new Contract for trading by the beginning of the next Trading Day.
|Trading Hours||Singapore time trading sessions: Singapore Business Days
Monday – Friday, Excluding Singapore public holidays08:55am – 08:59am (Pre-opening Session)
08:59am – 09:00am (Opening match session of Day Session)
09:00am – 18:00pm (Day Session)Trading of a Contract shall cease at 11:00am on its Last Trading Day
|Last Trading Day||The Last Trading Day of a Contract shall be the Monday of that Contract Week if it is both a Hong Kong Business Day and a Singapore Business Day, otherwise the earliest subsequent day which is both a Hong Kong Business Day and a Singapore Business Day. Notwithstanding the above, the Exchange reserves the right to determine the Last Trading Day with notice.|
|Daily Price Limit||Unless otherwise prescribed by the Exchange, there shall be no daily price limits.|
|Daily Settlement Price||The Daily Settlement Price of a given day shall be the volume-weighted average of the traded prices of all transactions occurred during the last 5 minutes of the given day’s Day Session, or other methodology as set forth by the Clearing House.|
|Final Settlement Price||The Final Settlement Price shall be equal to USD/CNY(HK) Spot Rate published by the Treasury Markets Association of Hong Kong (TMA) at approximately 11:30am Hong Kong time on the Last Trading Day, or other methodology as set forth by the Clearing House.|
|Settlement Method||Cash settlement in CNH|
|Block Trade||Minimum 200 lots|
|Initial Margin||Based on SPAN (Click to see Margin Schedule)|
|Maximum Order Size||500 lots|