Chinese yuan
Shanghai Clearing House urged to take bond collateral for FX trades
Dealers complain that feeble interest rate paid on cash margin raises cost of clearing
DisConnect: no deluge of demand for onshore CNY swaps – yet
Despite modest uptake, new onshore swaps on China’s Swap Connect could outdo non-deliverable IRSs, say dealers
Chinese snowball revenues melt away
Securities firms see falling revenues in the index-linked trades, but struggle to replace their profitability
Nomura targets smaller Chinese banks after first CFETS trade
Japanese bank is one of seven offshore FX dealers offering G10 pricing on China’s interbank market
Dealers predict Swap Connect will boost China’s swaps market
Banks expect strong interest from clients wishing to trade instruments onshore via new access scheme
Op risk data: Glencore hauled over the coals in $1bn+ bribery probe
Also: Russian banks in fraud fails; Citi’s fat-finger fumble; devil’s in the data detail. Data by ORX News
HSBC, StanChart face capital hit on cleared renminbi trades
Lack of UK recognition for Shanghai Clearing House could prompt banks to reduce exposures
From the margins: CGBs vie to join the collateral club
Can CGBs emulate US Treasuries as initial margin on cross-border derivatives trades?
Forecasting Bitcoin returns: is there a role for the US–China trade war?
In this paper, the authors extend the related literature by examining whether the information on the US–China trade war can be used to forecast the future path of Bitcoin returns, controlling for various explanatory variables.
RMB hedging comes onshore as regulators liberalise FX market
Foreign investors turn to CNY for bond hedges as rule changes spur more competition
Pricing options on trend-stationary currencies: applications to the Chinese yuan
This paper derives a closed-form version of a model with a trend-stationary, stochastic volatility exchange rate, using both a linear and quadratic trend.
RMB fall forces Chinese corporates to rethink hedges
Exporters dump forwards; others hedge for the first time
Chinese corporate hedging costs soar after PBoC forex clampdown
New rule leads to 400bp price hikes as companies hedge renminbi fall
China allows central banks to trade forex derivatives onshore
Asian nation takes another step towards renminbi liberalisation
China rate cut creates corporate hedging opportunity
Firms looking to de-risk but the Tarf issue could re-emerge
Shanghai launches renminbi derivatives clearing
CNY swaps and forwards can be cleared from November on SCH
Korea derivatives road map gets lukewarm reception
FSC to boost investor participation in derivatives but faces industry scepticism
China onshore OTC clearing postponed until 2014
OTC clearing onshore in China will be delayed until at least the end of 2013 or early 2014 according to an official at Shanghai Clearing House
Renminbi may never be fully liberalised, says GSAM’s O’Neill
As China relaxes controls on its currency, the yuan is set to become more widely used. However, government control is likely to be maintained. Full convertibility may never happen, says Jim O’Neill
Growing popularity of renminbi heralds more structured products linked to the currency
The renminbi appreciation society
China prepares for automated renminbi trade settlement
Rise of the redback