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RBC Unveils Yuan Platform

RBC Capital Markets has rolled out a new platform for deliverable offshore yuan trades.

RBC Capital Markets has rolled out a new platform for deliverable offshore yuan trades, The Wall Street Journal reports. 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, adds Automated Trader. As per, Zhang Guangping, deputy chief of the Shanghai branch of the China BankingRegulatory Commission, 8% of the country’s foreign trade may be settled in yuan by the end of the year.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Automated Trader.

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