Title: The Foreign Exchange Market Maker System and Its Influence on the RMB Exchange Rate Formation Mechanism
Abstract: This thesis studies the function of foreign exchange market maker as stimulating foreign exchange,increasing the liquidity on the foreign exchange market.The thesis analyzes that being a foreign exchange market maker needs strong capital backup,requires the ability of managing foreign exchange risk and the ability to quote prices accurately.The thesis also proves that foreign exchange market maker impacts the inter-bank exchange rate quoting system,under which generates the RMB exchange rate system.It goes on to prove that foreign exchange market maker increases the influence that interest rate has on exchange rate and that it is beneficial to the development of the foreign exchange market.Lastly,the thesis argues that China needs to have complementary reform measures after importing the foreign exchange market maker.
Publication Year: 2006
Publication Date: 2006-01-01
Language: en
Type: article
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