An commercial poster selling China’s renminbi (RMB) or yuan , U.S. greenback and Euro change companies is seen outdoors at international change retailer in Hong Kong, China August 13, 2015. REUTERS/Tyrone Siu/File Photograph

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BEIJING, Dec 3 (Reuters) – China’s international change regulator issued pointers on international change buying and selling on Friday, focusing on market manipulation, fraud and abuses.

The rules would assist regulate international change market buying and selling and promote “sincere, truthful, orderly and environment friendly” market operations, the State Administration of International Trade stated.

Market members could be barred from manipulating closing foreign money costs or different benchmark costs and barred from abusing dominant market positions to affect costs, in line with the rules.

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Market members could be barred from utilizing private, market-moving info to interact in foreign money buying and selling, or use such info to advise others to conduct buying and selling, the rules stated.

Market members ought to appropriately conduct proprietary foreign money buying and selling, actively present market liquidity and modify provide and demand available in the market, and assist preserve the yuan mainly secure at an inexpensive and balanced stage.

Sources have advised Reuters a central bank-led self-regulatory group that helps oversee China’s international change business had requested business banks to cap the dimensions of their proprietary buying and selling accounts, which many market members interpreted as a transfer to restrict monetary establishments’ hypothesis on the yuan. read more

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Reporting by Kevin Yao and Beijing newsroom; Modifying by Toby Chopra and Edmund Blair

Our Requirements: The Thomson Reuters Trust Principles.



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