DBS among first to offer yuan forex options in China
Bank's China unit completes a series of such transactions for corporate clients
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DBS Group Holdings is among a group of banks that have made first moves to execute new yuan-denominated derivative transactions for Chinese clients, as fresh Chinese regulations that kicked in this month paved the way for such transactions to be done.
DBS said yesterday its China unit completed a series of such foreign currency derivatives transactions for corporate clients.
These included transactions involving European-style options - which can be exercised at only expiration, as opposed to American-style options that can be exercised at any time - for clients based in eastern and southern China. The bank also executed a yuan cross-currency swap for a client headquartered in northern China.
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