China Foreign Exchange Trade System (CFETS) has successfully gone live with its inter-bank Renminbi currency trading platform provided by Tata Consultancy Services.

The New Generation CNY Trading System (NGCNYTS) is a forward-looking trading system, which aims to incorporate the future vision of the Chinese Interbank market and relevant international best practices. It is designed to meet the fast growing requirements of the Chinese financial market with efficient risk management and real-time monitoring systems. It supports multiple trading methods, including special features for market makers.

NGCNYTS is a next generation system providing unified platform across Debt, Money and Derivative Markets. NGCNYTS gained national importance, as it is the primary trading platform for all financial institutions such as Commercial Banks, Pension, Trust & Mutual Fund, Securities firms and Insurance companies in China.

TCS’ trading solution at CFETS is scalable and can handle rapid growth in volumes with ease. Due to its scalable and configurable architecture, it also simplifies the addition of multiple financial products thus reducing the overall time to market.

The China Foreign Exchange Trade System (CFETS), also known as the National Interbank Funding Center (the Center), is a sub-institution of the People’s Bank of China (PBC). Its main functions include: providing systems for foreign exchange (FX) trading, RMB lending and bond trading; organizing interbank FX trading, RMB lending and bond trading; handling settlement and clearing of FX trading; prompting the clearing of RMB lending and bond trading; providing an online commercial paper (CP) quotation system; providing information on the FX, bond and money markets; and engaging in other businesses authorized by the PBC.

With its head office in Shanghai and its back-up center in Beijing, CFETS has 18 sub-centers in Guangzhou, Shenzhen, Tianjin, Jinan, Dalian, Nanjing, Xiamen, Qingdao, Wuhan, Chongqing, Chengdu, Zhuhai, Shantou, Fuzhou, Ningbo, Xi’an, Shenyang and Haikou. CFETS has played a significant role in safeguarding RMB exchange rate stability, transmitting central bank monetary policies, serving financial institutions and supervising market operations.

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