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Yuan options trading
Source: Xinhua |
February 17, 2011, Thursday
|
Print Edition
Print Edition
CHINA will begin the domestic trading of yuan options against other currencies from April 1 to meet demands for more currency hedging tools as the yuan becomes more flexible.
The State Administration of Foreign Exchange said in a circular on its website yesterday that it will launch trading of so-called "European-style" yuan options on the interbank market.
Banks and enterprises will be allowed to buy call options at the initial phase, not to sell them, a move that aims to ease foreign exchange trading risks, the regulator said.
It also said the trading will be restricted to firms using it for real trading and investment, rather than speculation. Banks involved in the business should have more than three years of experience in trading foreign-exchange forwards.
Options give the buyer the right, not the obligation, to buy or sell currency at a specified exchange rate during a stated period of time.
The State Administration of Foreign Exchange said in a circular on its website yesterday that it will launch trading of so-called "European-style" yuan options on the interbank market.
Banks and enterprises will be allowed to buy call options at the initial phase, not to sell them, a move that aims to ease foreign exchange trading risks, the regulator said.
It also said the trading will be restricted to firms using it for real trading and investment, rather than speculation. Banks involved in the business should have more than three years of experience in trading foreign-exchange forwards.
Options give the buyer the right, not the obligation, to buy or sell currency at a specified exchange rate during a stated period of time.
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