CFFEX to launch euro and Aussie cross-currency futures
Cross-currency volatility a major threat to China corporates, says exchange, which is looking to develop an onshore forex derivative market
China Financial Futures Exchange (CFFEX) is to launch US dollar futures contracts versus the euro and Australian dollar next year, and is in discussions over introducing renminbi futures products in the Shanghai free trade zone, according to Hu Zheng, Shanghai-based chief executive at the firm.
Speaking at the China International Derivatives Forum held in Shenzhen on December 5, Hu said the move was in response to requests from local market participants for ways to manage their foreign exchange
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