RBC Capital Markets Extends Global FX Capabilities
RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada (RBC), has launched a deliverable offshore Chinese yuan (CNH) platform. The new platform, which will originate from RBC’s growing operations in Hong Kong, will enable RBC Capital Markets to execute interbank trades in CNH with its global clients and counterparties, offering foreign exchange (FX) spot, forwards and swaps. This new offering builds on the existing CNY Non-deliverable Funds product, which RBC has been active in for some time.
Ed Monaghan, global head of FX, RBC Capital Markets, said: “The ascent of China to the second largest economy in the world means its currency has grown in importance and is even more relevant to our global client base. We see significant future prospects in the CNH market and will be developing this business over the coming months.”