Photo taken on Aug. 24, 2011 shows a bank clerk counts US dollar currencies in Qionghai, south China's Hainan Province.
BEIJING, July 27 (Xinhua) -- China Foreign Exchange Trade System (CFETS) rolled out on its foreign exchange (FX) trading system agency trading functions for Renminbi (RMB)-FX spot, forward and swap transactions, reported Xinhua Finance.
CFETS said the function allows members of China's interbank FX market to act as agents for their overseas customers such as overseas central banks, etc. and provide them with RMB-FX spot, forward and swap transactions-related agency services.
CFETS took the move to better satisfy market demand and further improve the convenience of agency trading.
Under the function, agencies hereof can use accounts of their own traders to carry out related transactions on behalf of their overseas customers.
They can also manage transactions of multiple overseas customers including transaction initiation, confirmation, and inquiry.
CFETS, also known as the National Interbank Funding Center in China, is directly affiliated to Chinese central bank, the People's Bank of China and aims at becoming the major global trading platform and pricing center for RMB and related products. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
A single purchase
