Thomson Reuters will today (27 September) make the yuan available to trade on its Matching platform following the recent relaxation of Chinese currency rules.
In July, the People’s Bank of China eased restrictions on how freely the yuan could be traded by allowing firms to buy or sell the 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) authorised institutions, will be able to access and trade US dollar-yuan, euro-yuan and yuan-yen,” Thomson Reuters said in a statement.
The Thomson Reuters Matching platform allows the interbank market to match trades anonymously over an electronic system, which offers more than 50 spot currency pairs.
The launch of the new currency pairs comes one week after the company successfully rolled out its new Matching Host for the platform.