Icap forms joint venture in China


Interdealer broker Icap is to form a joint venture with the China Foreign Exchange Trade System & National Interbank Funding Center (Cfets). The venture - Shanghai Cfets International Money Broking - will provide voice-broking services for the money, bond and derivatives markets in renminbi and international markets.

Cfets is part of the People's Bank of China and controls the interbank forex and bond markets as well as providing its namesake trading system for products traded in this area.


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