State Administration of Foreign Exchange, Guidelines for Market Makers of the Interbank Foreign Exchange Market
国家外汇管理局银行间外汇市场做市商指引
Different qualifications are required of forex market makers.
Issue: February 2011
CLP Reference: 3800/10.08.30
Promulgated: 30 August 2011
Effective: 01 January 2011
Promulgated: August 30 2010
Effective: January 1 2011
Interpreting authority: State Administration of Foreign Exchange (Safe)
Applicability: The term “market makers of the interbank foreign exchange market” refers to members of the interbank foreign exchange market checked and approved by Safe to bear the obligations of providing buying and selling prices to market members in the course of renminbi and foreign currency transactions carried out in the interbank foreign exchange market (Article 2).
There are three types of market makers: spot trading market makers, forward swap trading market makers and comprehensive market makers. Spot trading market makers are banks that make a market in the interbank spot competitive bidding and price inquiry foreign exchange markets. Forward swap trading market makers are banks that make a market in the interbank forward, foreign exchange swap, and currency swap...
Please login or register below to read this article.