In the course of grand annual meeting China Foreign Exchange Trade System (CFETS)presented awards to the banks operating on China’s foreign exchange market for their achievements in the previous year.
VTB Bank Branch in Shanghai was recognized as a participant which had demonstrated the most dynamic development according to the 2011 results, and was ranked first in terms of volume and number of RUB/CNY operations. In 2011 the total amount of RUB/CNY operations exceeded RUB 22 billion.
VTB Bank Branch in Shanghai has been a member of China Foreign Exchange Trade Systemsince 2008. The cooperation with CFETS on promoting the Russian ruble on the Chinese internal foreign exchange market enables the branch to provide ruble clearing services to Chinese financial institutions and carry out a wide range of customer operations in the Russian ruble in the People’s Republic of China.
VTB Bank Branch in Shanghai (China) was established in 2008. It is the first branch of a Russian bank having a financial services license in the territory of the People’s Republic of China. In November 2010, the Branch was assigned a RUB/CNY market-maker status in China Foreign Exchange Trade System.
China Foreign Exchange Trade System (CFETS) was founded on April 18, 1994. It is a sub-institution of the People’s Bank of China. CFETS’s main functions include: providing a platform for electronic Forex trading, interbank RMB lending, bond trading, and exchange rate and interest rate derivatives trading.