Dealers predict Swap Connect will boost China’s swaps market
Banks expect strong interest from clients wishing to trade instruments onshore via new access scheme
Dealers say the Swap Connect scheme, which the financial regulators in Hong Kong and mainland China are due to launch later this year, could transform how foreign investors trade renminbi interest rate derivatives.
Investors outside China have typically hedged their renminbi exposures offshore by using non-deliverable interest rate swaps cleared at LCH in London. Swap Connect will provide
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