China adds two more onshore-trading banks
ING and HSBC are the latest banks to get the go-ahead from the China Banking Regulatory Commission (CBRC), under new derivatives regulations introduced in March. They join ABN Amro, Bank of Tokyo-Mitsubishi, Citigroup, Credit Suisse First Boston, Mizuho Bank and Standard Chartered as the elite group of banks authorised to trade derivatives in the country from December 1.
The additions came as the CBRC extended the deadline for banks to apply for derivatives trading licences – which allow local
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