CFETS and NEX launch CFETS FX2017

NEX has partnered with China Foreign Exchange TradeSystem (CFETS), to launch CFETS FX2017 (FX2017), a next-generation trading platform for the Chinese foreign exchange (FX) market.

First Published by e-Forex News: March, 2018

Seth Johnson, Chief Executive Officer of NEX Markets
Seth Johnson, Chief Executive Officer of NEX Markets

NEX has partnered with China Foreign Exchange TradeSystem (CFETS), to launch CFETS FX2017 (FX2017), a next-generation trading platform for the Chinese foreign exchange (FX) market. Having selected NEX to deliver the underlying technology for the new services in June 2016, CFETS launched the first phase of FX2017 with a central limit order book (CLOB) platform for spot onshore Chinese renminbi (CNY) on 4 December 2017. CFETS went live with phase two of FX2017 on 5 February 2018.

Seth Johnson, Chief Executive Officer of NEX Markets, said: “The launch of this new central limit order book platform in mainland China, will play a fundamental role in providing a public reference point for spot CNY pricing in the domestic FX market.”