BIS Plans Trading Floor For Hong Kong Operation

NEWS

BASEL--The Bank for International Settlements announced last Monday that it plans to open a trading floor in Hong Kong this year, allowing it to improve its foreign exchange service for Asian central banks.

The five-person dealing room could open as early as the third quarter and will trade the dollar, yen and euro. (BIS tends to deal with currencies that central banks hold their reserves in.)

By dealing from Hong Kong, the BIS will be augmenting its Basel trading room and providing each of it