Free trade in Taiwan needed to prevent emergence of multiple offshore RMB curves

The creation of an offshore RMB market in Taiwan could result in a fracturing of liquidity and prevent the currency's further internationalisation


Taiwan regulators need to allow for free transfer of capital between Taiwan and other offshore renminbi centres in order to ensure the consistency in the offshore rates of the RMB, according to market participants.

China and Taiwan signed a memorandum of understanding (MoU) in August this year creating a clearing mechanism for the RMB and Taiwanese dollar, making Taiwan the third offshore clearing centre for renminbi after Hong Kong and Macau. The clearing mechanism will create an offshore

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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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