☰

Telecomunicaciones y tecnología

Thomson Reuters to launch yuan forex matching


    LONDON (Reuters) - Thomson Reuters Corp said on Friday it will launch yuan trading on its foreign exchange matching platform from next week following the recent relaxation of Chinese currency rules.

    China in July eased restrictions on how freely the yuan could be traded by allowing firms to buy or sell yuan in Hong Kong without limits as part of a broader drive to increase the international use of its currency.

    "The existing Matching community, which are also registered HKMA (Hong Kong Monetary Authority) authorized institutions, will be able to access and trade dollar/yuan, euro/yuan and yuan/yen pairs," THOMSON (TMS.PA)Reuters said in a statement.

    It said the yuan would be available on its matching service from Monday, Sep. 27.

    The Thomson Reuters matching platform allows the interbank market to match trades anonymously over an electronic system. A company official said about 1,200 banks subscribe to the system, which offers more than 50 spot currency pairs.

    China's decision to lift controls on the use of the yuan in Hong Kong has already prompted some deliverable forward deals in the territory.

    It is expected to bring a windfall of capital inflows to the city and is viewed by analysts as underscoring Beijing's resolve to develop Hong Kong as an offshore yuan trading center.

    (Reporting by Anirban Nag, editing by Swaha Pattanaik)