Nex and CFETS launch renminbi Clob

FX2017 allows anonymous execution on a central pool of liquidity and a public reference point for CNY pricing

Michael Spencer: pleased to launch public market for CNY spot FX and next-generation disclosed-trading platform for CNY spot, forwards and swaps

Financial technology company Nex has partnered interbank platform and infrastructure provider the China Foreign Exchange Trade System to launch a new renminbi-trading platform called CFETS FX2017 for the Chinese currency market.

CFETS selected Nex in June 2016 to deliver the underlying technology for the new service. The partners launched the first phase of FX2017 on December 4, 2017, with a central limit order book platform for spot onshore Chinese renminbi (CNY).

The Clob facility provides

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