Launch of spot USD/HKD fixing

The Treasury Markets Association (TMA) announced Monday 3 April that the Spot USD/HKD Fixing would be formally launched on 6 April 2006, the Hong Kong Monetary Authority said in a press release.

The Fixing is calculated by averaging the middle quotes after excluding the highest three quotes and lowest three quotes from the rates provided by the Designated Banks (see Annex A for specifications about the Fixing).

The Spot USD/HKD Fixing will serve as a benchmark for the market exchange rates of U