The China Foreign Exchange Trade System CFETS is the interbank trading and foreign exchange division of China's central bank.

CFETS, founded on April 18, , is run by the People's Bank of China PBC. Its core functions include: Approved by the authorities, foreign currency trading was formally introduced to the interbank foreign exchange market in China on May 18, The CFETS said in May of that it would launch trading centers for exchange rate swaps , currency swaps and forwards, focusing on the development of both the cash and derivatives products.

On Apr, 16, Citi China was voted the number one trading bank as well as the number one trading bank for derivatives in a China Foreign Exchange Trade System poll.

Foreign exchange market - Wikipedia

Citi China was also named by members of CFETS as the leading market maker for foreign currency pairs in the poll.

The poll, held for the first time by CFETS, was aimed at promoting exchange between member organizations by recognizing good practice, so as to advance the healthy development of the market.

A total of member organizations participated in the poll. In deciding the result, a number of factors were considered, including dealing volume and the contribution to the development of CFETS, in terms of providing strategic advice.

Forex (FX)

CFETS plays a significant role in safeguarding RMB exchange rate stability, transmitting central bank monetary policies, serving financial institutions and supervising market operations. The system supports and organizes FX trading, RMB lending and bond trading, and interbank FX trading.

It also handles settlement and clearing of FX trading, clearing of RMB lending and bond trading, and provides online commercial paper quotation system and information on the FX, bond and money markets.

Forex — Wikipédia

Under the MOU, CME and the CFETS agreed to create a forum for a continuous flow of information between the parties and for CME to provide advice, counsel, and expertise in the development of foreign exchange FX derivatives instruments for China.

April - The CFETS was established according to the strategic plan of the People's Bank of China and State Administration of Foreign Exchange , implemented "multiple technological means and trading patterns to meet market demands of various levels [5].

January 3, - RMB credit lending system started operations through the CFETS. CFETS is headquartered in Shanghai, with a backup center in Beijing and sub-centers in Guangzhou, Shenzhen, Tianjin, Jinan, Dalian, Nanjing, Xiamen, Qingdao, Wuhan, Chongqing, Chengdu, Zhuhai, Shantou, Fuzhou, Ningbo, Xi'an, Shenyang, and Haikou. Pei ChuanZhi, President Ying Zhaoxiang, Inspector General Zhang Yi, Executive Vice President Xu Zaiyue, Executive Vice President Sun Jie, Executive Vice President Wang Hongbo, Executive Vice President.

Forex – Wikipedia, wolna encyklopedia

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