China told some brokerage firms to reduce proprietary trading in the foreign-exchange market, according to people with knowledge of the matter, markin
China told some brokerage firms to reduce proprietary trading in the foreign-exchange market, according to people with knowledge of the matter, marking another step by the authorities to defend the beleaguered currency.
The People’s Bank of China asked several brokers earlier this week to reduce currency proprietary desk trading, without giving specific guidance on the limit of trading volume, the people said, declining to be named discussing private matters. Some of these firms have almost halted their own trading since then, the people said.
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