RBC Unveils Yuan Platform

RBC Capital Marketshas rolled out a new platform for deliverable offshore yuan trades,The Wall Street Journalreports. The platform will allow the bank to process interbank yuan transactions with clients and help provide spot, forwards and swaps.

The new platform will originate from RBC’s operations in Hong Kong and build upon the firm’s existing yuan non-deliverable funds product, addsAutomated Trader. As per,Zhang Guangping, deputy chief of the Shanghai branch of theChina BankingRegulatory Commission, 8% of the country’s foreign trade may be settled in yuan by the end of the year.

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