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HKD – HONIA

HONIA: An Alternative Reference Rate for Hong Kong Financial Markets

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The following 12 datasets are available for resale as part of the HONIA data package:

1M HIBOR vs. HONIA M/M 1M HONIA FLAT

6M – 10Y

3M HIBOR vs. HONIA Q/Q 3M HONIA FLAT

3M – 10Y

HKD OIS FIXED vs. 3M HONIA COMP Q/Q

6M – 10M

HKD OIS ANN FIX vs. HONIA COMP

1M – 10Y

HKD HONIA Single Period Swaps

1M, 3M, 6M & 12M curves

HIBOR vs. SOFR Q/Q SOFR FLAT

1Y – 10Y

HKD OIS HONIA vs. SOFR Q/Q SOFR FLAT

1Y – 10Y

HKD OIS SPS vs 1M HONIA

1×2, 2×3, 3×4, 4×5, 5×6, 6×7, 7×8, 8×9, 9×10, 10×11, 11×12

HKD OIS SPS vs 3M HONIA

3×6, 6×9, 9×12

HKD HONIA vs AUD AONIA

ON – 15Y

HKD HONIA vs EUR ESTR

ON – 15Y

HKD HONIA vs SGD SORA

ON – 15Y

SUMMARY

HONIA is is an unsecured overnight lending rate, executed through a panel of 5 contributing brokers.

What is HONIA?

As the financial industry moves away from traditional benchmark rates like LIBOR, there is a growing need for alternative reference rates that are transparent, reliable and based on real market transactions. HONIA (Hong Kong Overnight Index Average) is the benchmark interest rate for overnight borrowing and lending in Hong Kong.

How is HONIA calculated?

HONIA is calculated based on the weighted average of the interest rates offered by participating banks for overnight loans in the Hong Kong interbank market. The calculation is performed by the Hong Kong Monetary Authority and is based on data submitted by participating banks. HONIA is published each business day at 9:00 a.m. Hong Kong time.

Key features of HONIA

HONIA offers a number of unique features that make it a valuable tool for financial services professionals. These features include:

Daily calculation: HONIA is calculated and published every day, providing up-to-date and accurate information on the cost of borrowing.
Wide coverage: HONIA covers a wide range of financial institutions, providing a comprehensive view of the overnight interbank market in Hong Kong.
Robust methodology: This robust methodology takes into account the full range of transactions in the overnight interbank market, ensuring that the rate is both representative and reliable.

Related products

AUD – AONIA SGD – SORA THB – THOR JPY – TONA

BENEFITS OF HONIA

Financial services can use HONIA in several ways, including:

As a benchmark for financial products: HONIA can be used as a benchmark for a wide range of financial products, such as loans, bonds and derivatives.

For pricing and risk management: HONIA provides financial services professionals with a reliable reference rate that can be used for pricing and risk management purposes.

For regulatory reporting: HONIA can be used for regulatory reporting purposes, providing a more accurate and transparent representation of the cost of borrowing.

As a reference rate for benchmark indices: HONIA can be used as a reference rate for benchmark indices, providing a more accurate representation of market conditions in Hong Kong.