The renminbi's lack of convertibility and concerns that steel contracts are not physically settled are limiting Chinese steel mill participation in the iron ore swaps market, according to a China industry participant.
Record levels of volume in iron ore swaps have been traded on the Singapore Exchange this year, leading some observers to speculate that a critical mass has been achieved with traders viewing the derivative as a proxy for China. However, Chen Dongwei, deputy general manager at
- Functional programming reaches for stardom in finance
- Banks hope final FRTB rules will ease NMRF burden
- Asia moves: Natixis sales head moves to Barclays, new banking head for StanChart Singapore, and more
- Buy-siders eye ways to get ahead of US resolution stay rules
- Nikkei faces hurdles in EU benchmark registration