Approval came from the State Administration of Foreign Exchange
Commerzbank Corporates & Markets has
said it has received its licence from the State Administration
of Foreign Exchange (SAFE) to trade onshore foreign exchange
(FX) options in China.
The German bank said that winning approval
for the licence means that Chinese corporates and institutions
will be able to buy and sell FX options, giving them greater
flexibility and a wider range of structured solutions to hedge
their renminbi exposure, thereby improving overall risk
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