Yuan clearing will be extended to 20.5 hours, increasing London and New York's ability to conduct more business and increasing access to yuan liquidity.
Read moreFXall's $123 billion ADV January included a $197 billion day, its highest tally ever. China volume record too. Looks like 2014 is getting off to a great start in the institutional forex world. After seeing ICAP's EBS platform climb 23% from December (although still well behind last year), Thomson Reuters' own Forex ECN platform as…
Read moreRussia's leading exchange has been focusing on increasing its business with Far East traders and investors. Moscow Exchange has announced the launch of trading in the FinEx MSCI China UCITS ETF (ticker FXCN). The FXCN tracks the MSCI China Index, which comprises 138 Chinese securities. The fund's shares will be traded on Moscow Exchange's securities…
Read moreChinese policymakers are facing a challenging dilemma with interest rates and Renminbi liberalization According to a fresh batch of data for December 2013 released by SWIFT, the Renminbi is now in 8th place in transactions volumes tracked by the global payments system. While constituting a meager 1.12% of global transactions, the amount has risen 15%…
Read moreThe central government wants a piece (or rather, a big chunk) of the reserve currency pie Over the weekend China’s forex regulator State Administration of Foreign Exchange said in a statement that acceleration of the Renminbi convertibility is one of the major goals for authorities. With the Shanghai Free Trade Zone being the test bed…
Read moreHolders of funds in Hong Kong gain easier access to mainland China investments According to a Reuters report on Monday, The Chinese Ministry of Commerce has announced a simplification of rules for foreign firms willing to park their Chinese Yuan holdings in the mainland. That just looks like another part of efforts to incentivize a…
Read moreChina to launch deposit insurance in Q1 as PBOC issues rules for deposit certificates trading Over the weekend Chinese magazine Caixun Century Weekly was cited by Marketwatch to publish information regarding the new steps that Chinese authorities are taking to liberalize deposit rates, which will ultimately lead to Renminbi convertibility. According to unnamed sources in the…
Read moreLondon, Hong Kong, Singapore and Abu Dhabi duke it out for Yuan supremacy With China’s Renminbi currency now solidly enshrined as the world’s #2 trade currency, further reforms to allow the Yuan to float are gaining steam. And, at the same time, the world’s leading financial centers are positioning themselves to become the leading places…
Read moreGlobal transaction services organization SWIFT releases global market share data for CNY at 8.66% in October The internationalization of the Chinese currency is gathering pace as the Renminbi appears to have achieved another milestone in the month of October according to global transaction services organization SWIFT. The market share in global trade denominated in CNY…
Read moreLast time we saw CNY market liberalization retail volumes out of China picked up more than 30% Just as London morning trading was kicking off the People’s Bank of China (PBOC) has surprised the markets with a release of a book written by the PBOC Governor Zhou for the third Plenum, which explained in more…
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