Latest RMB derivatives news

  • Total Derivatives: CNY curve steeper after PBoC tweaks

    Short-dated CNY swaps have been lightly offered and the 2s/5s NDIRS curve slope has steepened slightly. Meanwhile, the People’s Bank of China is considering expanding its reverse repo operations and its Macro Prudential Assessment reporting requirements have been tweaked, writes Deirdre Yeung of Total Derivatives.

    • 16 Aug 2017
  • HKEX gives up on T-bond futures as Bond Connect heats up

    The Hong Kong Exchange (HKEX) will suspend its offering of China ministry of finance treasury bond futures after the end of the year, while no official trading data was disclosed for the Bond Connect scheme in the bourse’s 2017 interim results report.

    • 09 Aug 2017
  • Total Derivatives: Scope for more curve flattening

    Renminbi non-deliverable interest rate swaps (NDIRS) have been well offered on easier liquidity conditions and a long-end outperformance has driven some curve flattening momentum on Wednesday. Despite this, sources see scope for the curve to flatten further. Offshore interest in CNY bonds is said to be growing, writes Deirdre Yeung of Total Derivatives.

    • 12 Jul 2017
  • This week in renminbi: July 10, 2017

    China’s State Administration of Foreign Exchange (Safe) says the country will not devalue the renminbi, Hong Kong’s renminbi deposits fall in May, and China welcomes Japan to participate in One Belt One Road (OBOR).

    • 10 Jul 2017
  • HKEX debuts renminbi gold futures

    Hong Kong Exchange (HKEX)’s chief executive Charles Li opened trading for the first RMB denominated gold futures contract on the exchange.

    • 10 Jul 2017
  • Total Derivatives: PBoC guidance awaited as swap curve remains steep

    There has been rising demand for short-dated non-deliverable interest rate swaps (NDIRS) in the renminbi market after the People’s Bank of China adjusted the fixing lower and market participants braced themselves for a key resistance level, writes Deirdre Yeung of Total Derivatives.

    • 05 Jul 2017
  • HKEX and CGSE reveal partnership in gold products

    Hong Kong Exchanges and Clearing (HKEX) and the Chinese Gold and Silver Exchange Society (CGSE) committed to building a “major gold and commodities trading centre in Asia Pacific” on Thursday.

    • 29 Jun 2017
  • Total Derivatives: CNY front end drives bull steepening

    Domestic data in China is mostly in line with market expectations. However, mild losses in equities has prompted some receiving at the shorter end of the CNY NDIRS curve, driving a bull steepening move to the belly of the curve, writes Deirdre Yeung of Total Derivatives.

    • 14 Jun 2017
  • RMB round-up: USDCNH futures have strong day, HK RMB deposits up in April, China and Germany co-operate on trade and finance

    In this week’s round-up, the Hong Kong Exchange’s USDCNH futures record their second best trading volume on Wednesday, renminbi deposits in Hong Kong increase by 4.1% in April, and China and Germany agree to co-operate on trade and finance.

    • 02 Jun 2017
  • Banks complete first IRS with new repo rates

    Bank of China and Standard Chartered (China) completed the first interest rate swaps under China’s new repurchasing fixing rate (FDR) on May 31. Experts say the recently introduced rates will better reflect liquidity in the market and work in the favour of foreign banks.

    • 02 Jun 2017

RMB derivatives news archive

GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 CITIC Securities 30.19
2 China CITIC Bank Corp 12.38
3 Bank of China (BOC) 11.61
4 Everbright Securities 10.84
5 China Merchants Bank Co 10.06

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 02-Aug-17 China Gas Holdings China 1,500
2 26-Jul-17 Hungary Hungary 1,000
3 24-Jul-17 China Resources Land China 5,000
4 21-Jul-17 Everbright Water China 1,000
5 21-Jul-17 Maybank Malaysia 1,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 JP Morgan 49.70
2 Barclays 10.06
2 Citi 10.06
2 HSBC 10.06
2 Bank of China (BOC) 10.06

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 01-Jun-17 Ocean Wealth (Parent: China Orient Asset Management) China 632
2 11-Apr-17 Bank of China Johannesburg Branch (BOC Johannesburg) China 1,500
3 22-Feb-17 Ocean Wealth (Parent: China Orient Asset Management) China 850
4 28-Nov-16 Loncin Holdings China 800
5 04-Nov-16 China Nuclear Engineering Group China 1,500