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CME Group (NASDAQ: CME), the world's leading and most diverse derivatives marketplace, and China Foreign Exchange Trade System (CFETS), said they have signed a Memorandum of Understanding (MOU) in Shanghai with a goal to establish a joint venture in the United States to implement the outcome from the 7th US and China Strategic Economic Dialogue.
On 4 April 1994, the China Foreign Exchange Trading System (CFETS) began operations, signifying the launch of a unified national inter-bank FX market.
(All exchange rates below are quoted as RMB/USD.) In April 1994, the China Foreign Exchange Trading System (CFETS) was established in Shanghai.
Ten days ago, the central bank unveiled a new currency index: the China foreign exchange trade system (CFETS) RMB index.
The CFETS, a branch of the central bank of China, has issued some changes to the new Yuan Index.
On Friday, the China Foreign Exchange Trade System (CFETS) released a yuan exchange rate composite index that measures the currency's strength relative to a basket of 13 foreign currencies, including the US dollar, euro and Japanese yen.
Two weeks ago, the central bank-supervised China Foreign Exchange Trade System (CFETS) has issued a verbal notice to banks to begin technical preparations for trading of the new currency pairs, which may be launched by the end of November, the sources reportedly said.
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