Thomson Reuters and Hong Kong Exchanges and Clearing Limited (HKEX) have signed an agreement to create a new series of Renminbi (RMB) indices.
The indices will provide benchmarks and show any developments of the RMB exchange rate against other currencies.
They will also be designed to be transparent and compliant with the International Organisation of Securities Commission’s (IOSCO) rules on benchmark governance and administration.
Following a “longstanding and fruitful relationship”, HKEX’s CEO Charles Li said the partnership “will enable us to reach a broad community with indices that tell the continuing RMB internationalisation story.”
Stephen Flagel, Thomson Reuters’ global head of indices explained that following the increasing presence of the RMB, “it is a great opportunity for us… to provide a series of indices that will use global standards to help our clients understand, analyse and capture the opportunities presented by RMB internationalisation.”
Further details on the indices are expected to be announced next week.