KUALA LUMPUR: HSBC Bank (China) Co. Ltd has been appointed a market maker to provide ringgit liquidity as mainland China opened its domestic foreign exchange market to trades of the ringgit against the renminbi.
The bank said it was only one of three banks and the only foreign bank market marker for China's sixth currency pair launched on Friday, Aug 20.
HSBC China started trading the new currency pair on China's interbank forex market on Friday. It will also provide ringgit exchange service through its branch network spanning 24 major cities in mainland China, the largest network of any foreign bank.
HSBC China managing director, head of global markets David Liao said: "This is another step to facilitate bilateral trading and investment activities between Mainland China and other Asian markets".
The bank said HSBC China was also one of the most active forex market markers for China's first five currency pairs - renminbi versus US dollar, yen, HK dollar, euro and pound sterling in the China foreign exchange trading system (CFETS).
The bank said it was only one of three banks and the only foreign bank market marker for China's sixth currency pair launched on Friday, Aug 20.
HSBC China started trading the new currency pair on China's interbank forex market on Friday. It will also provide ringgit exchange service through its branch network spanning 24 major cities in mainland China, the largest network of any foreign bank.
HSBC China managing director, head of global markets David Liao said: "This is another step to facilitate bilateral trading and investment activities between Mainland China and other Asian markets".
The bank said HSBC China was also one of the most active forex market markers for China's first five currency pairs - renminbi versus US dollar, yen, HK dollar, euro and pound sterling in the China foreign exchange trading system (CFETS).
No comments:
Post a Comment