UBS expands China swap business as WM products shift to NAV model

UBS (China) has set up a team to offer structured solutions to local financial institutions to hedge their exposures to foreign currencies (FX) and interest rates. The currencies consist of US dollar, euro, pound sterling, yen, Australian dollar, Swiss franc and Canadian dollar while interest rates include main FX benchmark interest rates, such as the US dollar fixed term swap agreement rate (CMS).  The use of derivatives in China has rapidly grown in recent years, but there remains plent