Page 44 - 期貨和衍生品行業(yè)監管動(dòng)態(tài)（2024年5月）
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期貨和衍生品行業(yè)監管動(dòng)態(tài)
下一步，內地與香港監管機構將指導兩地金融市場(chǎng)基礎設施機構，繼續穩妥
有序推進(jìn)“互換通”業(yè)務(wù)合作，持續完善各項機制安排，助力穩步擴大中國金融市
場(chǎng)對外開(kāi)放，鞏固提升香港國際金融中心地位。
Joint Press Release of the PBOC, the SFC and the HKMA on Swap Connect
Enhancements to Advance High-quality Opening-up of China’s Financial
Markets (2024/5/13)
To implement the national strategy to steadily advance the opening-up of China’s
financial markets, the mutual access between the Mainland and Hong Kong interest
rate swap markets (“Swap Connect”) was launched on 15 May 2023. Since the launch,
the trading and clearing arrangements of Swap Connect have been operating smoothly
and its trading volume has been on the rise with active participation of Mainland and
overseas investors.
As of the end of April 2024, 20 Mainland dealers and 58 overseas investors had
conducted more than 3,600 interest rate swap transactions with an aggregate notional
amount of approximately RMB1.77 trillion, representing an average daily turnover of
RMB7.6 billion or thereabouts in notional amount. The average daily turnover
calculated on a monthly basis had increased by around three times from
approximately RMB3 billion in the first month after the launch to over RMB12
billion in April 2024, providing Mainland and overseas investors with a convenient
and efficient risk management tool to manage their RMB asset allocation.
To further promote the coordinated development of financial derivatives markets
in the Mainland and Hong Kong and establish a framework to facilitate high-quality
opening-up in the realm of finance, the People’s Bank of China, the Securities and
Futures Commission and the Hong Kong Monetary Authority have resolved to
support the following further enhancements of Swap Connect, after thoroughly
reviewing the operational experiences of Swap Connect and carefully considering
comments and suggestions from Mainland and overseas investors.
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