Central Banking

China and Hong Kong set to launch Swap Connect

New trading link will make it easier for foreign investors to hedge interest rate risks

Hong Kong

International investors will be able to tap into China’s interest rate swap markets under the “Swap Connect” scheme from May 15, the central banks of China and Hong Kong announced.

The scheme will begin with “northbound trading”. This will enable overseas and Hong Kong investors to access interest rate swaps traded in China’s onshore interbank market for the first time. These swaps will be priced, settled, and cleared in renminbi, making it easier for overseas investors to hedge their onshore

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