HKEX Welcomes Launch of 30-Year Swaps Trading in Northbound Swap Connect

On June 30, 2025, Hong Kong Exchanges and Clearing Limited (HKEX) announced the launch of 30-year interest rate swap contracts on Northbound Swap Connect, significantly extending the previous maximum tenor of 10 years. This enhancement, achieved through collaboration with OTC Clearing Hong Kong Limited, the China Foreign Exchange Trade System, and the Shanghai Clearing House, saw 25 institutions conduct 56 transactions totaling approximately RMB 1.53 trillion on the first day. The extended tenor aligns with the duration of long-term bond holdings, catering to the risk management needs of both Chinese and international institutions. Since its launch in May 2023, Swap Connect has facilitated RMB interest rate risk management for 82 international institutions, with a total notional amount of about RMB 7.16 trillion. HKEX aims to further develop this program to enhance the connectivity and internationalization of China’s financial markets. Resources: https://www.hkex.com.hk/News/News-Release/2025/250630news?sc_lang=en