Demand for Taiwan RMB futures puts Hong Kong in the shade

Taifex says the exchange-traded instruments launched this week are a ‘milestone'

Taipei in Taiwan

Taiwan's first renminbi futures contracts have received a warm welcome from investors, with demand driving early trading volumes far beyond the average daily rates in Hong Kong and Singapore.

The development comes after the Taiwan Futures Exchange (Taifex) introduced two new renminbi futures on July 20: USD/CNH, based on interbank and spot market rates in Hong Kong; and USD/CNT, based on equivalent rates in Taiwan, making it the first fully domestic renminbi futures contract.

On the first day of

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