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HKEx Extends Trading Fee Relief

by Mary Swire, Lowtax.net, Hong Hong
29 December, 2015

The existing Active Trader Program (ATP), which provides trading fee rebates to approved traders of RMB currency futures contracts subject to minimum volume thresholds, has been extended by Hong Kong Exchanges and Clearing Limited (HKEx) to December 30, 2016.

Operated by HKEx since January 2, 2015, the extended ATP is now open for applications. Existing Active Traders (ATs) will be automatically enrolled in the new program, while interested new ATs should submit a form by January 29, 2016.

The trading rebate incentive is intended to solidify the development of Hong Kong's RMB currency futures market. On an annual basis, the product already reached a record turnover of 254,646 contracts (with a notional value of USD25.5bn) in the period from January 1 to December 24, 2015, exceeding the full-year record of 205,049 contracts (notional value USD20.5bn) seen in 2014.

"As an international financial center adjacent to Mainland China, Hong Kong is ideally positioned as the premier RMB risk management center," said Romnesh Lamba, HKEx's co-head of Global Markets. "Average daily RMB currency futures volume has increased each year since its launch in 2012. We expect the extended incentives will help us build on that positive momentum."

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