Offshore one-year
non-deliverable forwards contracts (NDFs), considered the best available proxy for forward-looking market expectations of the yuan's value, traded at 6.
Separately,
non-deliverable forwards (NDFs) are to be formally listed on Hotspots wholly-owned swap execution facility (SEF), previously called Javelin, in the coming weeks.
Foreign banks have been sent a form to sign, which asks them for an 'unconditional representation and commitment' to stop trading in any offshore Malaysian ringgit MYRNDFOR=
non-deliverable forwards or offshore derivatives.
The deal is intended to accelerate Bats' plans to offer trading of
non-deliverable forwards for the foreign exchange market.
Three-month offshore
non-deliverable forwards fell 0.
In the offshore market, one-month
non-deliverable forwards dropped 0.
This new CCP will begin clearing
non-deliverable forwards in Q4 2014 and interest rate derivatives in Q1 2015.
One-year
non-deliverable forwards have moved sharply higher in the past week, to 8.
In the offshore
non-deliverable forwards, the one-month contract was at 54.
told reporters on Friday that the outstanding value of transactions involving
non-deliverable forwards (NDFs) had fallen from $15 billion in 2010 to just $3 billion to date.
We're now hedging 25 to 30 currency pairs a month, using one-month forward contracts, outright forwards for deliverable currencies and
non-deliverable forwards for untradeable currencies, and hedging exposures on an aggregated corporate basis.
We're now hedging 25 to 3o currency pairs a month, using one-month forward contracts, outright forwards for deliverable currencies and
non-deliverable forwards for untradeable currencies, and hedging exposures on an aggregated corporate basis.
