What is a Renminbi (RMB) product?

A Renminbi (RMB) product is a general term which may include a wide range of investment products denominated or settled in Renminbi or have exposure to Renminbi-linked assets or investments.

RMB as Settlement Currency

Do I need to have RMB in my BOOM account before trading RMB products?

No. You can trade RMB products with any of the currencies in your BOOM account, including HKD, CNY, USD, CAD, JPY, SGD, AUD, GBP, CHF and EUR. Currency conversion will be done for you after your order(s) are executed.

What if I do not have sufficient RMB in my BOOM account to settle trades of RMB product?

By holding a BOOM account, you do not need to worry about settlement currency, including RMB.

If you do not have sufficient settlement currency in your BOOM account, we will arrange currency conversion to sell your available currencies and buy the required amount of settlement currency for your executed trade(s).

After selling my RMB stocks, can I keep RMB in my BOOM account?

Yes. Your BOOM account is a "Multi-Currency" stock trading account, in which you can deposit and keep ten different currencies including HKD, CNY, USD, CAD, JPY, SGD, AUD, GBP, CHF and EUR. As such, you can keep RMB in your BOOM account from selling your RMB stocks.