Bank of China (Hong Kong) Limited will be joining the EBS Direct platform as a liquidity provider, offering increased liquidity and improved pricing to clients on the platform, particularly to those trading in offshore Chinese renminbi (CNH).

EBS Direct is NEX Markets’ FX platform. NEX Markets is an electronic trading platforms and solutions business in foreign exchange and fixed income. Currently there are over 50 liquidity providers, providing a range of G10, emerging markets, precious metals and niche currencies on the platform. NEX Markets say that the addition of Bank of China Hong Kong represents an important step in improving liquidity in CNH and for Asia-Pacific as a region.

Jeff Ward, global head of NDFs and forwards and head of FX Asia, NEX Markets, comments, “As the Chinese yuan moves closer to internationalisation, this can only enhance our customers’ access to liquidity, improved pricing and certainty of execution.”

Tony Wang, general manager of global markets of Bank of China (Hong Kong), also says, “We will be offering clients competitive prices in renminbi and other major FX currency pairs, which we believe is essential for the market. EBS Direct’s global distribution network will help us to provide customised pricing liquidity where it’s needed most."