Software provider to the FX and CFD industry, Boston Technologies, has launched the Chinese Yuan currency pair to product offering. The move comes on the back of increased interest by Chinese based brokers.
US-based Boston Technologies, a provider of technology and trading solutions for financial markets' firms, has joined the growing list of service providers offering a tradable price on the Chinese yuan. Boston Technologies will offer the emerging market currency pair on the popular MetaTrader 4 platform.
Boston Prime, the prime brokerage unit of Boston Technologies will provide Liquidity to firms using services offered under the Boston Technologies banner. The Hong Kong-based contract, CNH, an offshore equivalent to the main currency will be offered against the greenback, the currency code is USD/CNH. Boson Technologies has seen a growing demand from clients in the region, hence the product extension.
Chinese policy makers have been gradually liberalising the status of the yuan, with initiatives such as the widening of the daily benchmark rate opening up the market. Furthermore, with China overtaking Japan as the world’s second largest economy, there is an increased need for firms to manage their exposure in the yuan.
The yuan is growing in significance as a global currency, and in the latest BIS FX volume survey, volumes grew significantly to $120 billion from $34 billion three years earlier; the Chinese currency had 2.2% of global market share. The report states that this was primarily due to “a significant expansion of offshore renminbi trading.”
George Popescu, CEO of Boston Technologies commented to Forex Magnates about the launch in an emailed statement, he said: “It was just natural to start offering USDCNH, as that is of very strong demand in the world. We expect that CNH should become the 2nd most traded currency as soon as China wishes so.”
Boston Technologies aggregates pricing from a range of Liquidity Providers, its main prime broker is Rabobank. The firm will offer a range of contracts including micro (0.01 1,000 units) and mini lots (0.1 10,000) units.
Forex Magnates has learned that Boston Technologies has established a local arm of its software consulting firm in China, with the correct legal framework. A company spokesperson said: “Boston Technologies went through the effort of seeking the right legal setup to open our Shanghai office by working with the 3 largest Chinese and US law firms in our field.”
International exchanges have also seen opportunities in the Chinese currency, Hong Kong’s main multi-asset exchange launched yuan currency futures last year in September (2012), Singapore’s main stock exchange has followed suit and went live on the 11th of November.
US-based Boston Technologies, a provider of technology and trading solutions for financial markets' firms, has joined the growing list of service providers offering a tradable price on the Chinese yuan. Boston Technologies will offer the emerging market currency pair on the popular MetaTrader 4 platform.
Boston Prime, the prime brokerage unit of Boston Technologies will provide Liquidity to firms using services offered under the Boston Technologies banner. The Hong Kong-based contract, CNH, an offshore equivalent to the main currency will be offered against the greenback, the currency code is USD/CNH. Boson Technologies has seen a growing demand from clients in the region, hence the product extension.
Chinese policy makers have been gradually liberalising the status of the yuan, with initiatives such as the widening of the daily benchmark rate opening up the market. Furthermore, with China overtaking Japan as the world’s second largest economy, there is an increased need for firms to manage their exposure in the yuan.
The yuan is growing in significance as a global currency, and in the latest BIS FX volume survey, volumes grew significantly to $120 billion from $34 billion three years earlier; the Chinese currency had 2.2% of global market share. The report states that this was primarily due to “a significant expansion of offshore renminbi trading.”
George Popescu, CEO of Boston Technologies commented to Forex Magnates about the launch in an emailed statement, he said: “It was just natural to start offering USDCNH, as that is of very strong demand in the world. We expect that CNH should become the 2nd most traded currency as soon as China wishes so.”
Boston Technologies aggregates pricing from a range of Liquidity Providers, its main prime broker is Rabobank. The firm will offer a range of contracts including micro (0.01 1,000 units) and mini lots (0.1 10,000) units.
Forex Magnates has learned that Boston Technologies has established a local arm of its software consulting firm in China, with the correct legal framework. A company spokesperson said: “Boston Technologies went through the effort of seeking the right legal setup to open our Shanghai office by working with the 3 largest Chinese and US law firms in our field.”
International exchanges have also seen opportunities in the Chinese currency, Hong Kong’s main multi-asset exchange launched yuan currency futures last year in September (2012), Singapore’s main stock exchange has followed suit and went live on the 11th of November.
Devexperts Checks Off Type 2 SOC 2 Audit for Enhanced Data Security
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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.
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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
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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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
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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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
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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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.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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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.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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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.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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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.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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