The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

FX news: A week of Yuan on Reuters Matching and EBS

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.

According to a Thomson Reuters spokesman: “This is very early days and with most authorised institutions being domiciled in Hong Kong, we expect the majority of market makers to be the large local banks and International banks who operate in Hong Kong.”

The most liquid pair is currently spot USD/CNY, although as liquidity and interest grows in these newly listed pairs, we expect volumes to increase in the other crosses listed, EUR/CNY and JPY/CNY.”

EBS launched yuan trading on Monday as well although they did not blow their trumpet until Wednesday. Perhaps they heard Reuters making a lot of noise and thought they should too.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree