Swap on trial
Source: Agencies |
April 2, 2016, Saturday
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Print Edition
Print Edition
COMPANIES in China will be allowed to offset their currency swap positions directly with other counterparties on a trial basis, the foreign exchange market operator said yesterday, in a minor reform to currency trading.
Only designated market markers for swaps and forwards can conduct the offset trades, the China Foreign Exchange Trading System, a unit of the Chinese central bank, said in a statement.
The mutual liquidation of swap positions aims at allowing banks and other financial institutions to do more derivative trades as their current business scale is curbed by official limits.
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