UK PM opens London-China FX link with R5
During state visit to China, Theresa May announces the link allowing Chinese banks to trade FX offshore is live
UK Prime Minister Theresa May has announced the launch of a cross-trading link between emerging markets trading platform R5FX and Shanghai Clearing House, enabling local Chinese banks to trade foreign exchange offshore.
Prior to the launch of the cross-connect system, banks based in China had little opportunity to trade foreign exchange offshore. With R5-SHCH Connect, which is part of the Belt and Road financial infrastructure initiative, many of these banks will be able to trade FX offshore
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