Reuters in Agreement With China Interbank FX System
The China Foreign Exchange Trade System (CFETS) and Reuters have signed an agreement for the provision of a global foreign exchange trading system for CFETS and its member banks. CFETS is a subsidiary of the Peoples’ Bank of China (PBC). CFETS, the operator of China’s interbank FX trading system, has selected Reuters technology to provide a real-time internet-based FX platform for its member banks. As part of the agreement, CFETS will deploy Reuters Electronic Trading for Automated Dealing (RET-AD) at its centre in Shanghai. Currently, CFETS has more than 300 member banks. The liquidity of the system will be provided by market makers of leading global financial institutions, including ABN AMRO, HSBC, Bank of Montreal, Bank of China, CITIC Industrial Bank, ING, Royal Bank of Scotland, Deutsche and Citibank.