EBS BrokerTec and Icap launch CNH benchmark
Market participants can directly compare onshore and offshore renminbi activity during the Asia-Pacific/Emea crossover
EBS BrokerTec and Icap Information Services (IIS) launched the EBS CNH Benchmark on July 7, providing the first fully electronic, trade-backed reference rate for the offshore renminbi market.
The benchmark, which was created in response to interest shown by several major Chinese banks and senior onshore authorities, is published daily at 4.30pm Beijing/8.30am GMT time. It will coincide with the onshore renminbi (CNY) market close, so as to allow market participants to directly compare CNY and
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