Citic
Hong Kong seeks to create ‘fixing’ rate for offshore renminbi; move...
Published online only
Source: Asia Risk
Hong Kong's efforts to create an offshore renminbi fixing rate are viewed as strategically important for the development of the offshore renminbi, with such a benchmark essential for the growth of CNH...
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RMB-denominated OTC derivatives poised to take off in Hong Kong
Published online only
Source: Asia Risk
The renminbi deliverable forwards market has hit at least $28 million during the first month of trading following an agreement in July between the the PBOC and HKMA that enabled Hong Kong to act as an offshore centre for the Chinese currency.
Metal mania
Published online only
Source: Asia Risk
China is the world’s fastest-growing consumer of base metals and its appetite for raw materials has resulted in a staggering growth in onshore listed derivatives. But its relevance to the institutional markets is still limited. Georgina Lee reports...
BBVA looks to Taiwan for growth
Published online only
Source: Asia Risk
BBVA will, in the coming weeks, apply to the Taiwan financial regulator to open a locally incorporated unit on the island as the bank continues to look for expansion opportunities across Asia. Spain's second biggest bank after Grupo Santander said it...
On the move
Original headline:
Source: Asia Risk
- ING Investment Management (ING IM) has hired Doug Hymas as chief executive of ING IM Japan. Hymas has worked for nearly 20 years in Tokyo in various management positions at Lehman Brothers, Barclays Global Investors and Legg Mason Asset Management....
Citic Pacific hit by target redemption forwards
Published online only
Source: Structured Products
Mining and manufacturing company Citic Pacific has informed shareholders its financial results will be affected by losses from leveraged foreign-exchange contracts including target redemption forwards. The losses have prompted the Hong Kong Securities...
Citic Pacific plummets after $2 billion derivatives loss
Published online only
Source: Risk magazine
Shares in Citic Pacific, the Hong Kong arm of the Chinese state investment company Citic, fell 55% today after the company admitted a $2 billion loss on poorly-managed forex hedges.
PBOC gives OTC foreign exchange trading go-ahead
Published online only
Source: Risk magazine
The People's Bank of China (PBOC) has opened up the country's spot FX market to over-the-counter trades, and authorised the China Foreign Exchange Trading System (CFETS) to determine the daily central parity rate for the RMB against foreign currencies....
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