Central Bank: The Foreign Exchange Market Open To All Companies - Sewage Treating Equipment

Forward foreign exchange transactions also launched inquiries into trading

Including insurance companies, securities companies, trust companies, finance companies and fund management companies, including non-bank financial institutions and non-financial enterprises apply for membership, you can enter the inter-bank spot foreign exchange market to self-sex

Allow qualified foreign exchange market participants will carry out inter-bank forward foreign exchange transactions

Eligible to obtain long-term deal for the record to allow more than 6 months of market members to carry out inter-bank spot and forward, the combination of long-term and long-term foreign currency swap transactions of RMB

Beijing Bank of China recently issued a message, "Bank of China to speed up development of the foreign exchange market on the issue of notice", in the interbank foreign exchange market forward foreign exchange transactions, and will be the main interbank foreign exchange market trading expanded to include insurance companies, securities companies , trust companies, finance companies and fund management companies, including non-bank financial institutions and non-financial enterprises.

"Notice" requirement, the registered capital of not less than one billion yuan or equivalent foreign insurance companies, registered capital of no less than 500 million yuan or the equivalent in foreign securities companies, trust companies, finance companies and registered capital no less than 150 million yuan or the equivalent in foreign exchange fund management companies to meet the other six requirements, you can apply for membership to the trade center, into the inter-bank spot foreign exchange market transactions; last year's current cross-border foreign exchange balance 2.5 billion U.S. dollars, or total trade in goods import and export of 2 billion U.S. dollars more than non-financial enterprises other four conditions are met, you can apply for membership to the trade center, into the inter-bank spot foreign exchange market to self-sex.

To further enrich the interbank foreign exchange market trading products, "notice" that allow qualified foreign exchange market participants will carry out inter-bank forward foreign exchange transactions. Notification requirements, the inter-bank forward foreign exchange market participants must be a trading center of the main members. Among them, the policy banks, commercial banks, trust investment companies, financial leasing companies, finance companies and auto finance companies members of inter-bank forward foreign exchange transactions, to be by China Banking Regulatory Commission issued financial derivatives trading business; Qita members of non-bank financial institutions is subject to its regulatory approval; non-financial corporate members shall be subject to approval of the State Administration of Foreign Exchange. "Notice" also said that forward transactions for the record to allow access for 6 months or more qualified members to carry out inter-bank spot market and forward, the combination of long-term and long-term foreign currency swap transactions of RMB.

In addition, the "notice" is still trading in the interbank foreign exchange market, the introduction of inquiry. Interbank foreign exchange market participants in the original concentration of the main credit, focus on trading on the basis of bidding and the choice of bilateral credit, bilateral trading settlement of inquiry, inquiry transaction will first be used in forward transactions.

The central bank said the expansion of market players, increase the variety and wealth of market transactions, market trading patterns, improve the RMB exchange rate formation mechanism is an important measure to help bring into full play the interbank foreign exchange market in allocating resources to the basic role.

by: gaga

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