It is finished: Standard Chartered China wraps up RMB FX option transactions with corporate clients

In line with the SAFE’s regulatory announcement.

Standard Chartered Bank (China) Limited (Standard Chartered China) has announced the completion of a set of newly approved RMB FX option transactions with Chinese corporate clients.

According to a release from Standard Chartered, the institution is among the first batch of banks to offer such products as the State Administration of Foreign Exchange’s (“SAFE”) recent regulatory announcement, which allows the creation of a greater variety of RMB FX options hedging products, becomes effective today.

Standard Chartered’s transactions are structured using a combination of vanilla European-style RMB FX options to cater to corporate clients’ specific hedging requirements.

The solution offers the clients more diversified FX hedging strategies based on their market view and risk appetite, and allows them to better manage their currency exposures and associated FX risks.

Here’s more from Standard Chartered:

“As a market leader in China, Standard Chartered has always been at the forefront in helping clients proactively manage and hedge their FX risks, and also promote product innovation in China’s financial markets.

The new regulation issued by SAFE has set up a solid foundation for further development of RMB FX options in China.

The Bank will ensure strict supervision of the business and focus on developing new products and enriching FX product features.

We will provide our clients with more customised solutions to help improve their ability to manage financial market risks,” said Charlie Ye, Head of Financial Markets at Standard Chartered China.

As one of the first international banks to launch RMB products in China, Standard Chartered China is a leader in RMB and FX business, and has maintained the leadership position in RMB offshore markets.

With a unique global footprint across 70 markets, Standard Chartered offers RMB services in over 36 countries and regions outside China.

Standard Chartered China has received a number of awards in interbank FX markets since 2007, including “Best FX Market Maker for Non-CNY Currency Pair” and “Best Trading for Cross Currency Swap” in 2013, and “Most Popular Derivative Market Maker”, “Best Inter-bank Foreign Exchange Market Member, and “Outstanding Derivatives Trading Member” in 2012.