Date: August 25, 2012
Source: Economic Daily

　　The Hong Kong Exchanges and Clearing Limited (HKEx) said on August 22 that it will launch RMB futures on September 17, according to the Xinhua News Agency. The US dollar-RMB futures contract will be the world’s first RMB deliverable futures contract.
　　It is learned the contract months of the RMB futures for trading on September 17 include October, November and December of 2012, as well as January, March, June, and September of 2013.
　　As for the US dollar-RMB (HK) futures contract, the sellers should pay the US dollar when the contract expires and the buyers should pay the final settlement price calculated in RMB. The pricing of the futures contracts will be calculated in RMB with the US dollar-RMB ratio, such as 1: 6.2486. The transaction and settlement fees should be paid in RMB. The final settlement price will be based on the fixing price of the spot rate of U.S. dollar against RMB (HK) published by the Treasury Markets Association at 11:15 a.m. on the last trading day.