On December 1, with the approval of the State Administration of Foreign Exchange, China Everbright Bank and other 5 China-funded and foreign-funded banks acquired the market maker qualification for RMB-foreign currency transactions in the inter-bank foreign exchange market.

    Market maker of the inter-bank foreign exchange market refers to a member of the inter-bank foreign exchange market who, with the approval of the State Administration of Foreign Exchange, continuously offers the buying and selling rates to other market members during the RMB-foreign currency transactions in the inter-bank foreign exchange market. Market makers are generally assumed by legal entities who have built up certain financial strength and reputation, and shall offer the investors the buying and selling rates and accept the investors’ buying or selling requests at the prices they offer, therefore providing instant transaction and liquidity for the market and earning profits based on the spread between the buying and selling rates.

    The obtaining of a market marker qualification in the inter-bank foreign exchange market reveals the improvement China Everbright Bank achieved in the foreign exchange transaction ability. It carves a new foreign exchange transaction variety and a new profit-making channel for the bank and will further sharpen the bank’s business competitiveness and social influence among other banks.