Chicago Mercantile Exchange (CME) and China Foreign Exchange
Trade System and National Interbank Funding Center (CFETS) have
announced a deal that will allow Chinese financial institutions
and investors to electronically trade CME FX and interest rate
Industry sources said the multi-year agreement could provide
CME with a valuable distribution channel into the Chinese
market. CFETS, the only foreign exchange and interbank money
market in China, is operated by People's Bank of China.
As part of the agreement, CFETS would become a CME
super-clearing member, providing services for investors based
in mainland China who would be trading CME interest rate and FX
products. In addition, the two parties were to jointly provide
consulting and technical services to CFETS members and
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