Traders on the Hong Kong Stock Exchange can buy deliverable offshore futures denominated in renminbi for the first time, Caixin reported. The introduction of the derivative goes further in offering renminbi instruments other than equities, Hong Kong Exchanges and Clearing market operator Charles Li said. Other exchange operators will also look to launch renminbe derivatives. CME Group, the largest US futures exchange operator, said deliverable futures in renminbe would be available in Chicago by the end of the year. Hong Kong is expected to continue to lead market expansion in renminbe-denominated trading tools. Futures sales were the fourth renminbe-dominated financial product cleared for trading since 2007, following dim sum bonds, real estate bonds and exchange-traded funds.
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