EFNs are issued by the Hong Kong Government. They serve as monetary policy instruments for the Hong Kong Monetary Authority and help establish the benchmark yield curve for the Hong Kong dollar debt market. There were $39,700 million worth of EFNs outstanding in August of this year and their average daily turnover was $2,153 million.
"We are introducing Three-year EFN Futures to provide hedging and trading tools for participants in the Hong Kong dollar interest rate market," said Frederick Grede, Chief Operating Officer of HKEx. "EFN Futures will complement our stock, stock index, currency and interest rate products and expand our wide range of financial futures contracts."
Key features of the EFN Futures contract specifications accompany this news release. The complete contract and the trading calendar specifications will be posted on the HKEx website (www.hkex.com.hk) soon.
