In order to promote the high-quality development of the inter-bank foreign currency pair market, promote business innovation and inter-bank exchanges, on November 4, China Foreign Exchange Trade Center (hereinafter referred to as the "Trading Center") held the 2022 Inter-bank foreign currency pair Market Exchange Conference through the "online + offline" form, with nearly 100 representatives from about 50 institutions participating in the meeting.

The meeting introduced the development of the inter-bank foreign currency pair market in recent years, mainly including: the trading volume growth rate of more than 50% for three consecutive years, the introduction of a number of mainstream large banks in the international market as market makers; Innovative launch of American, Asian, digital, barrier options and other innovative varieties; Integrate with the international market and launch innovative mechanisms such as prime brokerage business, automated trading interface and matchmaking.

Icbc, Bank of Communications and Nomura Singapore, as institutional representatives, shared topics on programmed trading, domestic foreign currency exchange business practices, and international foreign currency exchange business development experiences and challenges, respectively. In the interbank exchange session, online and offline participants actively spoke, highly praised the continuous expansion of the interbank foreign currency market opening to the outside world, innovative trading mechanisms, and rich product sequences, and put forward constructive opinions on the next development direction of improving the supply and demand relationship of foreign currency markets, enriching system functions, and increasing market publicity and communication.

The trading center said that in the next step, under the guidance of regulators and the support of market institutions, it will practice the new development concept, serve the new development pattern, continue to provide high-quality full process services for the market, gather domestic and foreign liquidity, strengthen business innovation and technology enabling, and constantly improve the construction and development of the foreign currency market ecosystem.

Source: Financial Times