(1888PressRelease) May 30, 2019 - CGCEX, an ideal trading destination for investors, traders and companies looking to invest, hedge or speculate by tapping into large pools of local, global and institutional investor capital, today announced that it will be launching a spot foreign exchange basis called CGCEX Foreign Exchange Link on CGCEX’s electronic trading platform. The new CGCEX Foreign Exchange Link will form the first-ever central limit order book between the CGCEX Foreign Exchange Futures markets and over-the-counter (OTC) spot foreign exchange.
It is feature-rich and enables CGCEX’s foreign exchange futures and over-the-counter spot foreign exchange contract to trade through single spread trade on the company’s transparent and liquid electronic trading platform. This functionality will enhance the efficiency of the credit line management across the foreign exchange market and the futures.
The new platform is expected to be completed this year. It will provide the OTC Foreign Exchange market participants a hassle-free way to access and use the foreign exchange futures as part of their general trading activities.
CGCEX will act as the prime broker for the whole spot foreign exchange transactions. These transactions will be the resultant of the spread and will allow the market participants to leverage their existing over-the-counter foreign exchange inter-bank credit relationships. Moreover, it will enhance the prime brokerage network of the established over-the-counter foreign exchange.
For this new venture, CGCEX will be partnering with the National Bank’s prime brokerage unit to act as the fundamental prime broker for the spot foreign exchange transactions resulting from the spread.
Liu Suk, Global Head of Foreign Exchange Products, CGCEX, said that by escalating the assimilation between the over-the-counter foreign exchange marketplace and futures, CGCEX Foreign Exchange Link will boost the access to the company’s liquid Foreign Exchange market. The over-the-counter foreign exchange market participants will benefit from the regulatory and capital advantages of listed futures as well as optimizing credit lines via facing a primal counter party.
The new CGCEX Foreign Exchange Link will initially support five currency pairs – INR/CNY, JYP/SGD, CNY/SGD, and SGD/INR.
About Chengdu Commodity Exchange
CGCEX is the premier exchange in Asia, based in China where it is operating as a market place for trading commodities and futures products. CGCEX is an ideal trading destination for investors, traders and companies looking to invest, hedge or speculate by tapping into large pools of local, global and institutional investor capital. Being one of the Asia’s leading exchange it is renowned because of dealing in an extensive range of products. From corporations to the individual and from the institutions to governmental agencies, the exchange believes that providing a sustainable investment opportunity to their clientele will help in building a healthy market.
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