Chinese T-bond futures ready for comeback, says Li

Hong Kong Exchanges and Clearing (HKEX) is planning to formally re-launch a futures contract for Chinese treasury bonds (T-bond), after piloting the product last year, Charles Li, chief executive of the bourse, told the HKEX’s RMB Fixed Income and Currency Conference on Tuesday.

  • By Noah Sin
  • 12 Jun 2018

“We are hoping this year we will begin the serious effort of launching comprehensive T-bond futures,” he said. “If we are not able to launch this year, I would be very, very surprised and disappointed if we are not able to do it sometime next year.”

But speaking ...

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GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 Bank of China (BOC) 23.98
2 China Merchants Securities Co 16.10
3 Industrial and Commercial Bank of China (ICBC) 13.41
4 Agricultural Bank of China (ABC) 9.76
5 China Securities 8.13

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 30-May-19 Portugal Portugal 2,000
2 17-May-19 Trafigura The Netherlands 540
3 16-May-19 CITIC Pacific China 1,000
4 15-May-19 Republic of the Philippines Philippines 2,500
5 29-Apr-19 Semiconductor Manufacturing International Corp (SMIC) China 1,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 25.05
2 Credit Agricole 7.04
2 HSBC 7.04
4 Bank of China (Hong Kong) (BOCHK) 6.90
4 Bank of Communications Hong Kong Branch (BOCOM HK) 6.90

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 22-May-19 Agricultural Development Bank of China (ADBC) China 3,000
2 16-Apr-19 ICBC Singapore Branch China 1,000
3 10-Apr-19 Bank of China Macau Branch (BOC Macau) China 4,500
4 15-Mar-19 Bank of Communications Hong Kong Branch (BOCOM HK) China 2,500
5 13-Mar-19 Daimler International Finance Germany 1,000