HONG KONG: Hong Kong's new futures product based on an index of onshore Chinese shares, which began trading Monday, had the highest first-day trading value of any new futures launched on the Stock Exchange of Hong Kong, according to the bourse.
The data underscore the demand from investors in China for hedging tools during the current market volatility and also mark the start of a new front in the battle for derivatives dominance between exchange operator Hong Kong Exchanges and Clearing and Singapore Exchange, whose rival China derivatives product currently dominates the market.