China foreign exchange trading system & national interbank funding center cfets
Hong Kong, London, New York, 3 Exchange - ICAP plc IAP. La leading markets operator and provider of post trade risk mitigation and information services, announces today that China Foreign Exchange Trade System CFETSChina's official inter-bank market trading platform and infrastructure provider, has chosen ICAP to deliver the underlying technology center fixed income and foreign exchange FX electronic execution services in mainland China.
An important infrastructure system provider, Foreign has been planning its "Next Generation Trading System" NGTS for a number of years. ICAP was chosen to cooperate with CFETS on the core trading components of NGTS. Leveraging the foreign technology behind EBS Market, EBS Direct and BrokerTec Direct, the NGTS will enhance CFETS' capability to offer central limit order book CLOB and disclosed trading models for FX spot, forwards and swaps and a disclosed center model for cash bonds, to the onshore renminbi market, through a localised EBS BrokerTec Graphical User Interface GUI.
After a thorough RFP process, CFETS selected EBS BrokerTec for its established and robust infrastructure capabilities, unique seamless and integrated trading technology, proven innovation and development of products such as EBS Direct and BrokerTec Direct, and a strong pipeline of product development, which is scalable and aligned to CFETS' growth strategy. CFETS and ICAP have collaborated successfully for cfets than china years since national founding of Shanghai CFETS ICAP - a joint venture to provide broking and information services in the onshore and offshore interbank foreign exchange, money market, bond and derivatives market.
This partnership is the next chapter in a long-established and successful relationship and allows EBS BrokerTec to accelerate its product development. Our EBS BrokerTec business has a strong track record of innovation in the national of electronic OTC markets", said Michael Spencer, Group CEO cfets ICAP.
The introduction of technology from EBS National is an funding part center CFETS NGTS exchange. The platform architecture conforms to the latest standards and has been approved by trading technology experts.
With acquired intellectual property and source code, CFETS' technology trading will be greatly enhanced and strengthened," said Xu Zaiyue, Executive Vice President of CFETS. I firmly believe Interbank will become one of the most important infrastructures of China's RMB market and provide strong and steady support to the development of China's inter-bank market cfets globalisation of the RMB.
An award-winning division of the ICAP Group at the heart of the foreign exchange and fixed income global markets, EBS BrokerTec is a market-leading e-trading technology funding solutions provider, offering access to multiple execution options and diverse, valuable liquidity. Constantly creating new, ground-breaking solutions, while continuously investing in proven, market-leading platforms and products, the business provides exceptional value to a globally diverse community of professional traders.
For more information, go to www. ICAP is a leading markets operator and provider of post trade risk mitigation and information services.
The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through its post trade risk mitigation and information services ICAP system customers manage and mitigate risks in their portfolios. Established inChina Foreign Exchange Trade System CFETSis also known as the National Interbank Funding Center. CFETS provides flexible funding, multiple trading models serving multi-tiered markets, trading infrastructure and innovative products to the Chinese interbank market.
Interbank company's aim is to establish itself as 'a global major trading platform and pricing center for RMB and related products'. Using advanced information technology, flexible communications over leased lines and the internet, CFETS provides exchange with a full range of issuance, trading execution, information and post-trade services for China interest rates, exchange rates and related products in cash and derivatives system. Every day Trading publishes market benchmarks including RMB Central Parity Rate, Shanghai Interbank Offered Rate ShiborLoan Prime Rate LPRCFETS RMB Indices, Fixing Repo Rate, Bond Indices, as well as various yield curves.
Its customers cover more than 10, market participants and 33, information and surveillance service users. InCFETS' total trading volume reached trillion China. London Stock Exchange plc is not responsible foreign and does not check content on this Website. Website users are responsible for checking content. Terms and conditionsincluding restrictions on use and distribution apply.
EBS Interbank signs multi-year deal with CFETS. About ICAP ICAP is a leading markets operator and provider of post trade risk mitigation and information services. About CFETS Established inChina Foreign Exchange Trade System CFETSis also known as the National Interbank Funding Center.
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