Foreign banks eye commodity derivatives as QFII rules are softened

In a first for the Chinese market, UBS Futures, the futures brokerage arm of UBS Securities in China, executed its first domestic commodity futures transactions for qualified foreign institutional investors (QFIIs) and RMB QFIIs (RQFIIs) on 11 October. QFIIs and RQIFFs are inbound investment programmes, which enables qualified foreign institutional investors to gain direct access to trade A-shares, bonds and securities investment denominated in onshore Chinese yuan (CNY). QFIIs remit foreign cu