Citi China says it has been voted No.1 Trading Bank and No. 1 Trading Bank for Derivatives in 2007 China Foreign Exchange Trade System Poll (CFETS). Citi China was also named by members of CFETS as the leading market maker for foreign currency pairs in the poll.

The poll, held for the first time by CFETS, is aimed at promoting exchange between member organizations by recognizing good practice, so as to advance the healthy development of the market. A total of 265 member organizations participated in the poll. In deciding the result, a number of factors were considered, including dealing volume, norm of the trader, and contribution to the development of CFETS, in terms of providing strategic advice.

CFETS, also known as the National Interbank Funding Center (the Center), is a sub-institution of the People’s Bank of China (PBOC). CFETS plays a significant role in safeguarding RMB exchange rate stability, transmitting central bank monetary policies, serving financial institutions and supervising market operations. The system supports and organizes FX trading, RMB lending and bond trading, and interbank FX trading. It also handles settlement and clearing of FX trading, clearing of RMB lending and bond trading, and provides online commercial paper (CP) quotation system and information on the FX, bond and money markets. (Citi Group)

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