Hong Kong’s Clearing Limited and Clearing Limited have announced the launch of interest rates with a maximum of 30 years for trade at Northbound Swap Connect.
This latest reinforcement in the Swap Connect follows close collaboration between its subsidiary Hkex Clearing, OTC Clearing Hong Kong Limited (OTC Clear) with China’s currency exchange system (Cfets) and Shanghai Clearing House (Shch).
A total of 25 institutions carried out 56 RMB interest rates transactions with extensive tenor via Northbound Swap Connect on Monday, with a total fictitious amount of approximately RMB1.53 trillion, marking the first day of transactions for extensive prinodor contracts. Previously, the longest exchange rate exchange on Swap Connect was 10 years.
This improvement of the exchange of exchange will extend the connectivity between mainland China and Hong Kong interest rates markets and further support the differentiated risk management needs of both Chinese and international institutions, including insurance companies and pensioners, Exchanges with the duration of their long -term bond residents. The expansion will also allow international investors to adopt more sophisticated commercial strategies in their cross -border investment, enhancing the overall effectiveness of the distribution of assets in RMB.
Swap Connect, a mutual access program connecting Hong Kong’s interest rates markets and mainland China, has recorded a steady increase in trading volumes from its circulation in May 2023.
From the end of June 2025, a total of 82 international institutions conducted interest rates transactions under the Swap Connect, with a total fictitious amount of approximately RMB7.16 trillion.