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HKEx to extend RMB equity trading support facility

(Xinhua)

08:24, July 31, 2012

HONG KONG, July 30 (Xinhua) -- Hong Kong Exchanges and Clearing Limited (HKEx) announced Monday that it will extend the coverage of its Renminbi (RMB) Equity Trading Support Facility (TSF) from Aug. 6.

According to HKEx, the TSF will be broadened beyond RMB-traded shares to equity-related Exchange Traded Funds (ETFs) and Real Estate Investment Trusts (REITs) traded in RMB.

The TSF was designed to serve as a back-up facility to enable investors to buy RMB-traded shares in the secondary market with Hong Kong dollars if they did not have sufficient RMB or had difficulty obtaining it.

"We are pleased to broaden the coverage of the TSF to facilitate the long-term growth and stability of RMB-traded securities listed on the Stock Exchange and thereby enhance the development of the offshore RMB market in Hong Kong," said Derrick Fung, HKEx's head of Clearing.

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