Reuters and HK TMA launch Renminbi swap offer rate fixing


Reuters and the Hong Kong Treasury Markets Association (TMA) launched a renminbi swap offer rate fixing on December 18.

The TMA has developed the fixing to serve as a market-based floating-rate benchmark for non-deliverable RMB interest rate swaps. The association appointed Reuters as the calculating agent for the computation and distribution of the fixing.

The TMA will also introduce the US dollar Hong Kong interbank offered rate fixing as input in the calculation.

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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