Chinese renminbi (RMB)
Electronic FX trading in Asia may switch to multi-dealer platforms
The Asian FX derivatives business is expanding rapidly, driven by increased participation from financial institutions and hedge funds. While single-dealer platforms have increased market share over the past few years, incoming regulation could force FX…
Options traders braced for further SNB intervention
Demand has switched from downside EUR/CHF options to upside options in anticipation of further Swiss franc weakening measures from SNB, say senior options traders
Thomson Reuters launches CNH swap trading on Matching
First CNH swaps on Thomson Reuters Matching were traded on July 25 by two undisclosed banks, vendor reveals
CNH deliverable forwards in Hong Kong could outgrow NDFs
Rising offshore renminbi interbank rates in Hong Kong have made its deliverable forwards market the cheapest way for corporates to hedge, compared with NDFs and onshore forwards, say bankers
FX Week USA: Niche services rather than volume set to dominate FX
Conference speakers discuss the changing nature of the foreign exchange market, and agree successful providers in future are likely to be those that can offer a range of niche services rather than those with the highest volumes
Spotlight on: Dan O’Sullivan, Société Générale
The French bank’s co-head of global FX trading talks to Farah Khalique about the impact of recent eurodollar volatility on banks and investors, and the practical challenges of implementing new regulatory requirements
Spot USD/CNH fixing in HK poised to become derivatives benchmark
Hong Kong interbank participants have created the first US dollar to offshore renminbi price fixing giving the city first-mover advantage in becoming an offshore centre for renminbi products such as derivatives, say market participants
Time for a single reserve currency is over, warns Gulliver
HSBC chief executive expects renminbi to become a reserve currency within 15 years and shares the bank’s outlook for the Chinese currency
Banks welcome launch of CNH fixing
Treasury Markets Association launches USD/CNH spot fixing today, with quotes provided by 15 banks and the rate calculated by Thomson Reuters
Crunch time for the US dollar, says Barclays Capital
US economic issues overshadowed by the eurozone crisis will return to the fore in Q3 and push US dollar depreciation, according to quarterly report
Icap hits record CNH volumes
Average daily volumes on EBS in June double those in May, with a record $92 million traded on June 17
Spotlight on: Tod Van Name, Bloomberg
Bloomberg’s global head of foreign exchange talks to Chiara Albanese about the company’s progress since it entered the FX market in 2000, and how it is preparing for regulatory change and the advent of Sefs
Lack of liquidity could hinder offshore RMB centres
Former US Treasury official cautious on prospects for offshore renminbi
European corporates wary of RMB settlement
UK government pushing for London to become a centre of offshore renminbi trading, say conference speakers
Renminbi set to outdo yen in offshore trade, brokers say
Liberalisation of Chinese currency laws is attracting investors to a fast-developing market
Bank race for offshore renminbi gathers pace
RBC Capital Markets goes live with CNH platform as Deutsche Bank claims new records
FX Invest North America: Beware of EM risks, buy side warns
The danger of not being able to unwind a position in an illiquid currency during a crisis could outweigh the possible returns in many cases, according to conference delegates
Spotlight on: Clive Banks, BNP Paribas
The global head of FX and local market sales at BNP Paribas in London talks to Joel Clark about the bank’s plans to strengthen and expand its FX franchise over the next three years, with a particular focus on technology and emerging markets
FX Invest Europe: Renminbi could overtake euro as alternative reserve currency
Panellists discuss the US dollar as the unquestioned reserve currency
FX Invest Europe: Get into emerging markets, say managers
Foreign exchange investors should look to emerging markets to realise the best returns in today’s market, according to senior buy-side practitioners speaking at the FX Invest Europe conference in Zurich on March 8.
Deutsche Bank takes offshore renminbi electronic on Autobahn
Deutsche Bank claims to be the first major dealer to offer offshore renminbi on an electronic trading platform
Yuan: The only way is up
Four currency strategists explain why they expect the Chinese yuan to continue to strengthen against the dollar
Foreign exchange concerns prompt investors to seek diversification
People on the buy-side give their thoughts on the prospect of a currency war, as central banks grapple with the problem of how much to intervene in their FX markets
China tests further easing of renminbi convertibility of capital account
China's State Council is advising the Shenzhen municipal government and local regulators about permitting renimibi conversion outside of currency restrictions