The People’s Bank of China’s China Foreign Exchange Trade System has gone live with a multi-bank portal built with Reuters. The platform, operated by the only entity licensed to trade foreign exchange in China, will be supported by 10 market-makers: ABN Amro, Bank of China, Bank of Montreal, Citic Industrial Bank, Citibank, Deutsche Bank, HSBC, Industrial & Commercial Bank of China, ING and Royal Bank of Scotland. The system will start trading eight currency pairs: U.S. dollar against the euro, yen, Hong Kong dollar, sterling, Swiss franc, Australian dollar and Canadian dollar and euro against the yen. The system is based on Reuters’ Electronic Trading (RET) platform.

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