UPDATE 1-China clears path to launch 'Swap Connect' scheme - FT

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds details from FT report, background, changes headline) April 6 (Reuters) - China's "Swap Connect" scheme has won regulatory approval and is set to launch within months, the Financial Times reported on Thursday citing people familiar with the matter. The final rules for the scheme were recently agreed by China and Hong Kong authorities, the report said. In February, China's central bank issued draft rules seeking public opinions on the scheme. The new scheme, announced last year, will allow mutual access to interest rate swaps trading to promote financial derivatives markets, and also upgraded a separate currency swap agreement. (Reporting by Rishabh Jaiswal in Bengaluru; Editing by Jacqueline Wong)

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