Icap have added more CNY pairs to the EBS platform this week after they were the first broker to launch CNH/USD spot trading in September.
Cleared through Hong Kong, the new pairs; CNH/EUR, CNH/HKD and CNH/JPY, were made available on Monday.
Jeff Ward, head of Icap electronic broking in Asia, says: “The volume of CNY trade settlement in the global offshore market has increased from CNY3.6 billion in the second half of 2009 to CNY70.6 billion in the first half of 2010, according to data from the Peoples Bank of China.
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