Mini USD/CNH Futures contract (FCNH)
Mini USD/CNH Futures contract (FCNH)
For market participants who wish to hedge the RMB currency risk of their positions in different assets, such as equities and commodities, FCNH offers new trading opportunities and arbitrage across multiple exchanges in a mini-sized contract that is cash-settled.
Contract Specifications | |
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Contract | Mini United States Dollar / Chinese Offshore Renminbi Futures Contract |
Contract Code | FCNH |
Underlying Currency Pair | United States Dollar / Chinese Offshore Renminbi (USD/CNH) |
Contract Unit | USD 20,000.00 |
Price Quotation | RMB per USD |
Minimum Price Fluctuation | 4 decimal places RMB 0.0001 per USD (RMB 2 per tick) |
Contract Month | Spot month, the next three calendar months and the next six calendar quarter months. The calendar quarter months are March, June, September, and December. |
Trading Hours | Monday to Friday (Malaysia Time) |
Final Trading Day | 1. Two Hong Kong Futures Exchange Limited (“HKFE”) business days prior to the 3rd Wednesday of the contract month (“HKFE Last Trading Day”). If the HKFE Last Trading Day falls on a day which is not a Business Day (“non-Business Day”), the Final Trading Day will be the Business Day immediately preceding the HKFE Last Trading Day. |
Settlement Method | Cash settlement in RMB based on the Final Settlement Price |
Final Settlement Price and Contract Settlement | The final settlement price will be the settlement price of the expiring month contract for the Mini USD/CNH Futures traded on HKFE on the HKFE Last Trading Day, as determined by HKFE. The Contract will be settled on the HKFE Last Trading Day. If the HKFE Last Trading Day is a non-Business Day, the Contract will be settled on the Business Day immediately after the HKFE Last Trading Day. |
Ticker Code | CME Globex® BMD\FCNH\relevant contract month code Example: <FCNHF4> BMD\FCNH\JAN24 Bloomberg UCPA Curncy <GO> Refinitiv <FCNH> + <Month Code> + <Year Code> Example: <FCNHF4> JAN24 contract ICE Data Services F:FCNH\MYY, where M is month code and YY is year Example F:FCNH\Z23 |
Why Trade FCNH? |
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- Global Access
FCNH is traded electronically on CME GLOBEX®, a global electronic trading platform. Accessing CME GLOBEX® is easy and allows individual and professional traders anywhere around the world to access all Bursa Malaysia Derivatives' products.
- Greater Capital Efficiency
At one-fifth the size of USD/CNH Futures offered by HKEX, FCNH is a smaller-sized contract that is cash-settled, offering market participants a capital efficient way to achieve more precise RMB currency hedging over their investment holdings, without the need for full principal exchange or to take physical delivery.
- Effective Hedging and Risk Management Tool
Market participants, such as small to medium enterprises (SMEs) and business owners with transactions in US Dollar and RMB can use FCNH to hedge their risks against fluctuations in these foreign currencies.
- Regulated Trading
Trade currency futures with confidence in a secure and transparent marketplace regulated by the Securities Commission Malaysia.