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Yuan now third most traded currency on EBS platform

Posted on 15 October 2015

China’s currency is now the third most traded on the EBS platform, overtaking such pairs as the dollar-Swiss franc and euro-yen on one of the main independent venues where banks trade currencies.
Officials at ICAP-owned EBS Brokertec, which competes with Thomson Reuters’ Matching platform in bank-to-bank currency trading, said the number of players trading every day in China’s yuan, or renminbi, had grown 50 percent in the past year. That follows the announcement by the banking payment network SWIFT that the yuan is now the fourth most used currency in ordinary day-to-day payments worldwide………………………………………..Full Article: Source


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