Bank of China (Hong Kong) Limited to join EBS Direct as a Liquidity Provider
05 June 2017
Bank of China (Hong Kong) Limited brings improved liquidity and pricing to the important CNH market and other major currencies
Hong Kong, Singapore, London - NEX Markets, a NEX Group business which provides electronic trading technology services in the fixed income and foreign exchange (FX) markets, announces today that Bank of China (Hong Kong) Limited, a mainstream bank as well as an integrated and regional financial group with roots firmly planted in Hong Kong for 100 years, will be joining the EBS Direct platform as a liquidity provider (LP), offering increased liquidity and improved pricing to clients on the platform globally, particularly those trading the offshore Chinese renminbi (CNH).
EBS Direct is NEX Markets’ fully disclosed, relationship-based FX platform. Currently there are over 50 LPs providing a range of G10, emerging markets, precious metals and niche currencies on the platform. The addition of Bank of China (Hong Kong) Limited represents an important step in improving liquidity in CNH and for Asia Pacific as a region. Adding key market liquidity providers to the EBS Direct platform is vital for clients who value the specialised expertise and insight, as well as the opportunity for improved liquidity and pricing.
Jeff Ward, Global Head of NDFs and Forwards and Head of FX Asia, NEX Markets, said: “As a top three currency pair on the platform, NEX Markets has a long-standing commitment to CNH trading and enhancing its liquidity with other regional crosses. We are extremely pleased that such an important player in the CNH market is joining the platform as an LP. As the Chinese yuan moves closer to internationalisation, this can only enhance our customers’ access to liquidity, improved pricing and certainty of execution.”
Tony Wang, General Manager of Global Markets, Bank of China (Hong Kong) Limited, said: “Being the leading commercial banking group and the designated clearing bank in Hong Kong for offshore RMB business, we are committed to providing professional and leading products and services in the offshore RMB markets. We will be offering clients competitive prices in RMB and other major FX currency pairs, which we believe is essential for the market. EBS Direct’s global distribution network will help us to provide customised pricing liquidity where it’s needed most."
NEX Markets has a long relationship with China. Alongside its active support for the growth of CNH, it was also announced in June 2016 that NEX Markets would provide the underlying technology for fixed income and FX electronic execution services in mainland China for China Foreign Exchange Trade System (CFETS).
Casey Sheets, NEX (US)
+1 917 915 3254
Michelle Gathercole, Argentus PR
+44 (0) 20 7397 2913
Jasmine Yap, Citigate Dewe Rogerson
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NEX Markets A NEX Group business, NEX Markets helps customers access liquidity and execute efficiently. We operate at the heart of the foreign exchange and fixed income global markets providing electronic trading technology and services. We offer access to multiple execution options, valuable liquidity from diverse sources and help execute transactions efficiently. Our financial technology, platforms and products are continuously evolving to meet the needs of a globally diverse community of professional traders who depend upon our services. For more information, go to www.nexmarkets.com
NEX Group plc offers customers better ways to execute trades and manage risk. Our products and services underpin the entire trade lifecycle pre-, during and post-execution. Our electronic trading platforms are industry standards. Customers use our lifecycle management and information services to optimise portfolios, control risk and reduce costs. We partner with emerging technology companies to bring greater efficiency, transparency and scale to the world’s capital markets. NEX is headquartered in London with offices worldwide. For more information, go to www.nex.com