Icap JV re-launches renminbi swaps and forwards in China
SHANGHAI - Icap has resumed broking renminbi forwards and cross-currency swaps in the Chinese interbank market through its local joint venture, after receiving regulatory authorisation to do so on Friday, March 20, the broker confirmed.
Cfets-Icap, the joint venture between the broker and the China foreign exchange trade system (Cfets), suspended broking operations in the products more than a year ago, due to what it described as a lack of regulatory clarity (FX Week, February 25, 2008).
At the
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