Additional text has been added to aid users who may be using screen readers to view this site. If you are reading this text on your screen then either, the style sheet (CSS) file has failed to load, in which case you should refresh your screen or, your browser may not support style sheets. Find out more about which browsers support style sheets on the World Wide Web Consortium website.

What follows is a few links to some of the important pages. If you wish to skip this you can

Header navigation:

Language options:

Main level navigation:

Second level navigation — Personal:

Second level navigation — SMEs:

Second level navigation — Corporates:

Second level navigation — International:

Second level navigation — China:

Second level navigation — About Us:

Second level navigation — Centenary Celebration:

Foreign Exchange

FX Forward Contract

RMB Non-Deliverable Forward (NDF)

FX Forward Contract

A contract to buy or sell a specified amount of one currency for a specified amount of another currency at an agreed rate of exchange for delivery on a specific or optional dates, normally up to one year but could be extended to five years.

RMB Non-Deliverable Forward (NDF)

The mechanism of a RMB NDF contract is similar to any foreign exchange forward market. There is no actual delivery of currencies at maturity; the difference in value of the contract and spot price is settled in cash.

Note:

The risk of loss in leveraged foreign exchange trading can be substantial. You may sustain losses in excess of your initial margin funds. Placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily limit losses to the intended amounts. Market conditions may make it impossible to execute such orders. You may be called upon at short notice to deposit additional margin funds. If the required funds are not provided within the prescribed time, your position may be liquidated. You will remain liable for any resulting deficit in your account. You should therefore carefully consider whether such trading is suitable in light of your own financial position and investment objectives.

The above products are not equivalent to time deposit and are not protected deposits under the Deposit Protection Scheme in Hong Kong.