China set to extend NDF trading scheme for onshore banks
China
set
to
extend
NDF
trading
scheme
for
onshore
banks
–
FX
Markets
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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)
and
price-streaming
functionalities
whereby
price
negotiation
and
execution
can
take
place
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