KBC launches NDFs for major currencies
NEWS
LONDON – The London branch of Belgium-based bank KBC has launched major-currency non-deliverable forwards (NDFs), the bank said last week.
Anna-Maria Wilfling-Rothenstein, global head of treasury and capital markets sales at KBC, said the new product was prompted by customer demand.
The bank is expecting the new contracts to be used largely by fund managers with limited credit lines, and corporate balance sheet or liability hedgers.
Non-deliverable forwards are synthetic forward exchange contracts
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