China set to extend NDF trading scheme for onshore banks
CFETS expected to introduce RFQ functionality and more currencies for non-deliverable forwards
China’s interbank foreign exchange platform is planning to add new execution functionalities for Chinese banks participating in its recently launched non-deliverable forwards (NDF) trading programme.
Currently, onshore banks can only negotiate these NDF contracts bilaterally, and the trades are then booked on the China Foreign Exchange Trade System. The plan is to include request-for-quote (RFQ)
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