With some fanfare, Thomson Reuters launched yuan trading on its FX matching platform on Monday after the relaxation of Chinese currency rules in July.
In a statement last Friday, Reuters said 1,200 banks subscribed to Matching and “the existing Matching community, which are also registered Hong Kong Monetary Authority authorised institutions, will be able to access and trade dollar/yuan, euro/yuan and yuan/yen pairs.”
It seemed a bit hard to believe that of the 1,200 banks, all of them were already authorised; we predicted that yuan trading this week might be slow, what with all that pesky registration with HKMA.
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