On Apr. 19, HKEX wrote on incentive programs re currency derivatives.
HKEX said the cash liquidity provider incentive (cash LP) program as well as the cash active trader (cash AT) program for USD/CNH futures are open for applications.
Follows HKEX Jun. 2023 extended currency derivative programs, see #175170.
Existing Programs
HKEX also said the existing cash LP program for mini USD/CNH futures, USD/CNH options and INR/USD futures contracts as well as the existing cash AT program for INR/USD futures contracts will be extended on the same terms to May 30, 2025.
Existing liquidity providers (LPs) will receive amended appointment letter for the extension; service term of existing active traders (ATs) will be automatically extended.
HKEX explained that existing LPs and ATs are not required to submit an application.
Effectiveness
New programs run from Jun. 3, 2024 to May 30, 2025; application deadline is May 6.
Existing programs extended to May 30, 2025.
Nov. 2024 Incentive Discontinuation
On Nov. 26, 2024, HKEX announced discontinuation of certain incentive programs.
Namely, that of two key incentive programs for INR/USD futures trading: the cash liquidity provider incentive program and the cash active trader incentive program.
The discontinuation will take effect from Jan. 1, 2025.
