Thomson Reuters Adds Yuan Forwards to Thomson Reuters Matching
![yuan yuan](/sites/default/files/styles/landscape_750_463/public/import/IMG/542/164542/yuan-580x358.jpg.webp?itok=ytiiWEdm)
Thomson Reuters has expanded its offering for the offshore yuan (CNH) market with the launch of FX swap CNH trading on Thomson Reuters Matching. This is the first time CNH forwards trading has been made available via an interbank electronic marketplace.
The new service complements the existing FX spot CNH service launched by Thomson Reuters last year and is available to existing Thomson Reuters Matching subscribers with the required clearing facilities in place. Currently this includes over 80 global financial institutions.
Mark Kiley, global head of sales, treasury transactions services at Thomson Reuters, says with the average daily CNH trading volume now more than $1 billion, interest in the offshore yuan market has been phenomenal.
The launch of FX swaps for offshore yuan is a natural progression and meets great demand from their CNH customers, he adds. Along with the provision of the CNH fixing, the spot and swaps trading capabilities enable customers to quickly access real liquidity and manage ever growing customer flows and interest, according to Kiley.
The addition of CNH forwards trading to Thomson Reuters Matching further expands the company's services to support the offshore yuan market. It follows Hong Kong's Treasury Market Association's (TMA) recent appointment of Thomson Reuters to compile and publish Hong Kong's first offshore yuan spot fixing rate.
In 2010, trades settled in Chinese yuan and handled by banks in Hong Kong amounted to 369 billion yuan (approximately $57 billion), equivalent to 73 percent of mainland China's total trade in Chinese yuan. In the first quarter of 2011, this ratio surged by 86 percent, according to the Hong Kong Monetary Authority.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
This Week: FCA, Plato/Turquoise, Franklin Templeton, and more
A summary of the latest financial technology news.
CME: CFTC OKs clearing move to Google Cloud
The CFTC has given the Chicago-based exchange approval to run its clearing and settlement infrastructure on the Google Cloud Platform, while the exchange and vendor have extended their partnership to last until at least 2037.
JP Morgan touts DLT, tokens for collateral management
Distributed-ledger technology could make moving non-cash collateral more efficient, said managing director Toks Oyebode during an Isda conference on Thursday.
Waters Wrap: The changing definition and perception of blockchain
Anthony says that questions of definition and perception are killing DLT projects in the capital markets—oh, and a lack of proven implementations.
BlackRock to integrate Aladdin and Preqin to create new private markets platform
CEO Larry Fink calls combining the two platforms “maybe the biggest opportunity in 10 years.”
Ace high or busted flush? Digital Asset’s mixed fortunes mirror DLT adversity
The vendor hoped to remodel post-trade using blockchain technology—and it still might—but its bumpy progress raises questions over the future of DLT in finance.
This Week: BlackRock/Preqin, Trading Technologies, FIA Tech and more
A summary of some of the past week’s financial technology news.
Adaptive’s Aeron goes live on Microsoft Azure Marketplace
The messaging software used for building bespoke trading platforms is now available on Microsoft’s marketplace, making it accessible through major cloud providers.