Icap suspends interbank FX forwards and swaps pricing in mainland China

Eric Tsao, the Shanghai-based head of trading at Cfets-Icap, the joint venture between the broker and the China foreign exchange trade system (Cfets), said the firm had stopped quoting the products on Thursday (February 21).

Shen Jun, Shanghai-based compliance officer at the broker, denied media reports that the firm had ceased dealing swaps and forwards as a result of written or verbal instructions from the State Administration of Foreign Exchange (Safe).

"We stopped because we were operating