Financial Information & Hybrid Brokering

TOPFIT is a financial information and hybrid brokering system developed and operated by Shanghai CFETS-NEX International Money Brokering Co., Ltd. It provides multi-terminal service including quote display, enhanced RFQ and data report for domestic and global institutions. The system covers money market, fixed income, commodity as well as wealth management and equity products.

Since 2014, over 1,000,000 quotes have been offered by the system to more than 20,000 traders from 3,000+ institutions.

TOPFIT focuses on pre-trading and in-depth data mining. The data from voice brokering, hybrid brokering, regulators, exchanges, venders and partners are proceeded and consolidated after cleansing, verification and de-noising by different dimensions to provide authentic, real-time and optimal information service for different trading scenarios.

As the first hybrid brokering system of China, TOPFIT combines the advantage and avoid the weakness of voice brokering and electronic trading. By electronic processing, TOPFIT breaks the bottleneck of traditional brokering service in terms of client coverage and operation efficiency. By human interaction, the system compensates the inadequacy of response of pure electronic platform. The specially designed RFQ function, as an essential part of brokering service, can be selected by client independently to secure the effectiveness of the procedure.

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About China Interbank Market

China OTC financial market is composed of interbank bond market, interbank-lending market, foreign exchange market, commercial paper market and gold market.

Market participants include: policy banks, commercial banks, credit cooperative banks, insurance compaines, securities houses, fund management companies, trust and investment companies, finance companies affiliated with corporations, credit rating agencies, accounting firms and companies in non-financial sectors.

source from: http://www.nafmii.org.cn//english/


Shanghai CFETS-NEX International Money Broking Co., Ltd. is a leading inter-dealer voice broker and provider of information services in China. Invested by China Foreign Exchange Trade System & National Interbank Funding Center (CFETS) and ICAP PLC (renamed as NEX Group PLC), the world’s largest inter-dealer broker, CFETS-NEX was set up in September 2007 in Shanghai with the approval of China Banking Regulatory Commission (CBRC).It provides professional voice broking and information services in on-shore and off-shore interbank foreign exchange market, money market, bond market, and derivatives market.

CFETS-NEX plays a professional and efficient intermediary role in various aspects including improving on-shore inter-bank market structure, creating market liquidity and transparency, assisting market participants with their trading efficiency, cost saving, portfolio management and return on investment.

CFETS-NEX’s business scope covers:
Onshore and offshore foreign exchange market;
Onshore and offshore money market;
Onshore and offshore bond market;
Onshore and offshore derivatives market;
Other businesses approved by CBRC.

source from: http://www.cfets-icap.com.cn/en


Founded on April 18, 1994,China Foreign Exchange Trade System (CFETS), also known as the National Interbank Funding Center, is a sub-institution directly affiliated to the People’s Bank of China (PBC).

CFETS adheres to the business principle of “using multiple technical approaches and various trading methods to answer demands from multi-tiered markets”. Under the strategic goal of becoming the “major global trading platform and pricing center for RMB and related products”, CFETS provides a series of services covering issuance, trade, post-trade processing, information, benchmark and training services for interbank FX market, money market and bond market via dedicated line and the Internet with advanced electronic information technologies.

As an important financial infrastructure in China, CFETS undertakes daily monitoring on market transactions, and also provides support and service for PBC’s monetary policy transmission and market self-regulatory organizations. CFETS publishes market benchmarks, including RMB Central Parity Rate, Shanghai Interbank Offered Rate (Shibor), CFETS RMB Index, Loan Prime Rate (LPR), RMB Reference Rate, Bond Indices, yield curves, etc., offering reference prices for the market.

source from: http://www.chinamoney.com.cn