Traders to Benefit from New Funding Arrangements in CNH at ADM Investors
by
Adil Siddiqui
Leading multi-asset broker. ADM Investors has extended the number of funding currencies available to traders. The firm will offer the offshore CNH, traders can deposit funds in the overseas contract offered in Hong Kong.
ADM Investors is enhancing its offering for Chinese clients. The firm has announced that it can accommodate deposits in the offshore Chinese yuan contract, CNH. The broker joins the ranks of a few selected firms that offer traders the funding options. ADM Investors reported in a note to clients that it has included the BRICS currency in its list of funding currencies. The US-listed broker joins Interactive Brokers which also offers depositing facilities in the currency pair.
The move signifies the growing importance of China as a dominant force in global economics. The CNH cross is a contract launched by Hong Kong in order to facilitate global trade in the yuan, a restricted currency in mainland China.
ADM Investors is offering the currency through its account at international banking institute, JP Morgan. The key advantage is that ADM provides deliverable FX in pairs involving this currency to its customers, in addition, this can now be arbitraged with other markets whether they are futures or NDFs.
The new arrangement is expected to strengthen the role of China and its currency in financial trading. Although the currency was ranked in the top ten most liquid currencies in the 2013 BIS Survey, it still lacks in trading interest from retail investors, the new Arbitrage opportunities could open up the currency pair to new types of traders.
Contracts that track the onshore Chinese yuan have been growing in popularity, Hong Kong’s main financial trading venue, the Hong Kong Exchange (HKeX) launched the yuan derivatives contract in September 2012, thus giving corporates and traders the ability to gain exposure to the cross. Hong Kong’s rival, Singapore, recently launched a similar futures contract, the two financial centers have been battling against each other to position themselves as the preferred location for overseas Chinese yuan trading.
In a recent bilateral meeting of leaders of Singapore and China, the world’s second largest economy will allow direct trading between its currency and the Singapore dollar from Tuesday the 28th of October, thus simplifying the way companies do business here to conduct business with their Chinese counterparts.
The Singapore dollar will be added to the country’s main payment mechanism, the China Foreign Exchange Trade System (CFETS) platform, which currently offers transactions between the yuan and 10 foreign currencies.
ADM Investors is enhancing its offering for Chinese clients. The firm has announced that it can accommodate deposits in the offshore Chinese yuan contract, CNH. The broker joins the ranks of a few selected firms that offer traders the funding options. ADM Investors reported in a note to clients that it has included the BRICS currency in its list of funding currencies. The US-listed broker joins Interactive Brokers which also offers depositing facilities in the currency pair.
The move signifies the growing importance of China as a dominant force in global economics. The CNH cross is a contract launched by Hong Kong in order to facilitate global trade in the yuan, a restricted currency in mainland China.
ADM Investors is offering the currency through its account at international banking institute, JP Morgan. The key advantage is that ADM provides deliverable FX in pairs involving this currency to its customers, in addition, this can now be arbitraged with other markets whether they are futures or NDFs.
The new arrangement is expected to strengthen the role of China and its currency in financial trading. Although the currency was ranked in the top ten most liquid currencies in the 2013 BIS Survey, it still lacks in trading interest from retail investors, the new Arbitrage opportunities could open up the currency pair to new types of traders.
Contracts that track the onshore Chinese yuan have been growing in popularity, Hong Kong’s main financial trading venue, the Hong Kong Exchange (HKeX) launched the yuan derivatives contract in September 2012, thus giving corporates and traders the ability to gain exposure to the cross. Hong Kong’s rival, Singapore, recently launched a similar futures contract, the two financial centers have been battling against each other to position themselves as the preferred location for overseas Chinese yuan trading.
In a recent bilateral meeting of leaders of Singapore and China, the world’s second largest economy will allow direct trading between its currency and the Singapore dollar from Tuesday the 28th of October, thus simplifying the way companies do business here to conduct business with their Chinese counterparts.
The Singapore dollar will be added to the country’s main payment mechanism, the China Foreign Exchange Trade System (CFETS) platform, which currently offers transactions between the yuan and 10 foreign currencies.
Interactive Brokers Posts Strong April Metrics, Daily Average Revenue Trades Soar 33%
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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