Icap hits record CNH volumes
Interdealer broker Icap has reported a breakthrough in its trading volumes in offshore renminbi, or CNH, after transacting $92 million in the new currency on June 17 and $80 million on June 20.
The volumes break the previous record of $40 million that was traded on May 16. According to Icap, there are now more than 110 counterparties set up to trade CNH on EBS, with a significant proportion added in the past six weeks. Average daily volume in CNH in June has risen 50% on the previous month.
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