Payments
MAS looks to overhaul payment systems
City state has access to some of the most advanced payment systems, but cash and cheque usage remains high
World must prepare for takeoff of renminbi transactions
A more flexible renminbi will inevitably lead to the currency's increasing adoption in daily dealings, says HSBC
Global renminbi adoption slows in June
Decline continues in the internationalisation of China's currency, overtaken by the Canadian dollar in payments by value
Renminbi adoption in US slows in May
A decline of 1.6% from a year ago highlights the slowdown in the Chinese currency's internationalisation
Renminbi's global share of payments drops
The Chinese currency fell to sixth place last month, overtaken by the Canadian dollar
UK tops Singapore as second-largest renminbi-clearing centre
Forty per cent of all payments between the UK and China are now made using the Chinese currency, Swift data shows
Renminbi's global share of payments drops
But the Chinese currency is being increasingly adopted to settle transactions with China and Hong Kong
Renminbi overtakes ringgit for Malaysian payments to China
The US dollar still accounts for the overwhelming majority of payments from Malaysia to the red dragon
Renminbi direct payments make inroads in Middle East
The Chinese currency ranks first when the UAE and Qatar make direct payments to China and Hong Kong
Renminbi payments double between China and Japan
But while the Chinese currency is booming, trading volumes in the wider FX market fell in November
Considering China as a growth hotspot
Philippe Gelis, chief executive and co-founder of Kantox, looks at opportunities stemming from the launch of Cips
Rocking in exotics has never been more attractive
An early mover gamble paid off for US broker INTL FCStone in exotic currencies trading. Philip Smith and Gregory Vincent explain why the payments business is growing
Bank of England resumes settlement after 'technical issue’
UK’s high-value payment system was ‘paused’ for several hours Monday, but is now back up and running; central bank extended opening hours to deal with backlog
US overtakes Taiwan as offshore RMB clearing centre
The value of RMB payments between the US and China jump 229% in the year to April 2014
CLS will adhere to US sanctions on Russia
The ruble looked set to become the 18th currency to be settled through CLS, and while both the CBR and the industry utility are committed to the deadline, political uncertainties remain
European corporates wary of RMB settlement
UK government pushing for London to become a centre of offshore renminbi trading, say conference speakers
ECB calls for law enforcing Sepa migration
European Central Bank says legislative action on migration of Sepa scheme needed as self-imposed deadline will not work
Citi targets EM settlement
NEW YORK & BOGOTA - Citi's domestic settlement service is set to gain a foothold in emerging markets where CLS is currently not active.