18 December 2017
visit http://response.ncr.com

Bank of China (Hong Kong) joins EBS Direct as liquidity provider

05 June 2017  |  3276 views  |  0 Source: NEX Group

NEX Markets, a NEX Group business which provides electronic trading technology services in the fixed income and foreign exchange (FX) markets, announces today that Bank of China (Hong Kong) Limited, a mainstream bank as well as an integrated and regional financial group with roots firmly planted in Hong Kong for 100 years, will be joining the EBS Direct platform as a liquidity provider (LP), offering increased liquidity and improved pricing to clients on the platform globally, particularly those trading the offshore Chinese renminbi (CNH).

EBS Direct is NEX Markets’ fully disclosed, relationship-based FX platform. Currently there are over 50 LPs providing a range of G10, emerging markets, precious metals and niche currencies on the platform. The addition of Bank of China (Hong Kong) Limited represents an important step in improving liquidity in CNH and for Asia Pacific as a region. Adding key market liquidity providers to the EBS Direct platform is vital for clients who value the specialised expertise and insight, as well as the opportunity for improved liquidity and pricing.

Jeff Ward, Global Head of NDFs and Forwards and Head of FX Asia, NEX Markets, said: “As a top three currency pair on the platform, NEX Markets has a long-standing commitment to CNH trading and enhancing its liquidity with other regional crosses. We are extremely pleased that such an important player in the CNH market is joining the platform as an LP. As the Chinese yuan moves closer to internationalisation, this can only enhance our customers’ access to liquidity, improved pricing and certainty of execution.”

Tony Wang, General Manager of Global Markets, Bank of China (Hong Kong) Limited, said: “Being the leading commercial banking group and the designated clearing bank in Hong Kong for offshore RMB business, we are committed to providing professional and leading products and services in the offshore RMB markets. We will be offering clients competitive prices in RMB and other major FX currency pairs, which we believe is essential for the market. EBS Direct’s global distribution network will help us to provide customised pricing liquidity where it’s needed most."

NEX Markets has a long relationship with China. Alongside its active support for the growth of CNH, it was also announced in June 2016 that NEX Markets would provide the underlying technology for fixed income and FX electronic execution services in mainland China for China Foreign Exchange Trade System (CFETS).

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comvisit www.response.ncr.comvisit www.thomsonreuters.info

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
11026 views comments | 3 tweets | 2 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
8441 views comments | 11 tweets | 12 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7519 views comments | 19 tweets | 22 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
6997 views comments | 6 tweets | 26 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6951 views 0 | 4 tweets | 2 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job