By the end of 2014, ICBC ranked No.1 in market making volume in China’s interbank foreign exchange market for the sixth consecutive year. ICBC is one of the market makers providing most diversified market making businesses in most currencies in the interbank foreign exchange market. ICBC topped the "Best Comprehensive Market Makers" in the 2014 Interbank Foreign Exchange Market Competition recently organized by the China Foreign Exchange Trade System (CFETS). ICBC is the biggest winner of the competition by grabbing a total of 15 awards.
Market maker in the interbank foreign exchange market refers to the market player who, upon the approval of the State Administration of Foreign Exchange, continuously quotes selling and buying prices to market members for their RMB and foreign exchange trading in the interbank foreign exchange market, and injects liquidity into the market through its trading activities. In recent years, ICBC has been endeavoring its best to develop the foreign exchange market making business based on the customer demands. It has been licensed to provide market making business in 11 currencies such as USD, GDP, RUB and MYR, with businesses diversified to spot, forward and swap trading.
The annual competition held by the CFETS is based on the results of the assessment of the system indicators, market polls and the evaluation made by the regulatory authorities. It is the most authoritative competition in the interbank foreign exchange market. In this competition, ICBC won 15 important awards including "Best Comprehensive Market Maker" and 14 other awards such as Best Market Maker, Best Trader, Best Spot Market Maker, Best Forward and Swap Market Maker, Best Spot Trader, Best Forward and Swap Trader, Best Non-USD Currency Trader and Best Foreign Currency Hedger, Most Popular Spot Market Maker, Most Popular Forward and Swap Market Maker, Excellent Market Maker for Direct RUB, MYR and GDP Trading, Best Back-Office Supporting Market Maker. Three ICBC employees were granted with personal awards including "Excellent Deal Manager" and "Excellent Dealer".
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