China Foreign Exchange Trade System
The China Foreign Exchange Trade System (CFETS,
Overview
CFETS was created by the PBoC on 18 April 1994, initially as the Forex Trading System (
CFETS also operated a
CFETS has been based since 2006 in Zhangjiang Town, Shanghai, with a local backup center on the Bund and a remote backup center in Beijing.[5] It also has sub-centers in Guangzhou, Shenzhen, Tianjin, Jinan, Dalian, Nanjing, Xiamen, Qingdao, Wuhan, Chongqing, Chengdu, Zhuhai, Shantou, Fuzhou, Ningbo, Xi'an, Shenyang, and Haikou.[citation needed]
CFETS self-describes as undertaking daily monitoring on market transactions, and also providing support and service for the PBoC monetary policy transmission and market self-regulatory organizations. It publishes market benchmarks, including RMB Central Parity Rate,
Leadership
Pei Chuanzhi was the president of CFETS in the mid-2010s.[6] As of early 2024, the CFETS President was Zhang Yi.[5]
See also
- China Central Depository & Clearing (CCDC)
- China Securities Depository and Clearing Corporation (CSDC)
- Cross-Border Interbank Payment System (CIPS)
- Society for Worldwide Interbank Financial Telecommunication(SWIFT)
- CLS Group
References
- ^ a b "Brief Introduction of China Foreign Exchange Trade System". Shanghai Municipal People's Government. 18 July 2023.
- ^ "CME Group and CFETS Sign Agreement on Cooperation". CME Group. 25 September 2015.
- ^ "National Interbank Funding Center (全国银行间同业拆借中心)". China Banking News. 27 August 2019.
- ^ Barry Eichengreen (20 May 2022). "Sanctions, SWIFT, and China's Cross-Border Interbank Payments System". Center for Strategic and International Studies.
- ^ a b c d "Brief Introduction". CFETS.
- ^ "CME Group and China's CFETS in MOU to establish US joint venture". SMM. 6 August 2015.