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China allows 3 more domestic brokers to trade in interbank forex market

CITIC Securities Company Ltd., China Merchants Securities Co. Ltd. and Huatai Securities Co. Ltd. received approval from the China Foreign Exchange Trade System to participate in the interbank foreign exchange market.

The licenses allow the brokerages to engage in spot, futures and swap trading in the interbank forex market, according to separate Sept. 11 releases from the China Foreign Exchange Trade System, a unit of the People's Bank of China.

According to China Foreign Exchange Trade System, the interbank forex market had 677 member banks prior to the latest approvals.