Deutsche gets China FX derivatives licence

Deutsche joins a growing number of banks that have been given the green light to trade derivatives in China, including ABN Amro, Bank of Tokyo-Mitsubishi, HSBC and the Shanghai Pudong Development Bank.

Under new regulations, which came into effect on March 1, licensed local and foreign banks can trade derivatives on their own accounts for profit. Previously, derivatives could only be used for hedging.

The rules also allow licensed foreign banks to conduct business directly with domestic corp