Banks move in as Asian regulators ease derivatives restrictions

UBS and Standard Chartered are among the banks in the region applying for the licences, after the China Banking Regulatory Commission said the transactions could now be made for profit, as well as for hedging purposes.

"This is a pretty significant change, indicating China is still gradually moving to relax capital controls," Frank Gong, chief foreign exchange strategist at Bank of America in Hong Kong, told RiskNews' sister publication FX Week.

The ability to trade derivatives for profit wo

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