Bloomberg unveils live interbank pricing for China’s onshore renminbi
Bloomberg has launched today a real-time data service that provides investors access to live interbank pricing for China’s onshore renminbi market.
The service captures currency trading activity among banks and financial institutions in China, and is provided through the China Foreign Exchange Trade System (CFETS), the official interbank trading and foreign exchange division of China’s central bank.
Global currency traders, corporate treasurers and institutional investors will be able to view executable quotes and trades on the interbank dollar-yuan spot, swap and forward markets.
The CFETS data service also features the best renminbi spot prices from participating banks, historical trade sizes, and eight other renminbi currency pairs.
“The addition of the CFETS data gives investors insights into real-time tick-by-tick movement, volumes and market participant information in China’s onshore interbank market,” said Tod Van Name (pictured), Bloomberg’s global head of FX, economics and commodities.
He added: “Given the rapid internationalisation of the Chinese yuan, this data is imperative to global markets as it provides our clients greater transparency for smarter and more timely trading, hedging and investment decisions.”
Recently Bloomberg also announced the development and adoption of the CNH code, provision of its price history and introduction of the offshore renminbi bond listing and index, following the evolution of the offshore renminbi market.