FX Markets named Crédit Agricole CIB the Best Asia FX Non-Deliverable Forward House in 2025

FX Markets, a renowned publication on foreign exchange and the money market published since 1990, named Crédit Agricole CIB the Best Asia FX Non-Deliverable Forward House in 2025. A non-deliverable forward is a foreign exchange (FX) contract where counterparties establish an agreement to settle currency trading that are not freely trade or have restrictions.

Recognising the demand from corporates to mobilise niche currencies in their global supply chain, Crédit Agricole CIB has been deploying tactics that effectively connect clients with relevant trading opportunities in local markets tied to the currencies. As a result of its consistent effort, Crédit Agricole CIB experienced a non-deliverable forward (NDF) trading volume uptick across currencies in 2024 – notably a 200% volume increase after revamping its electronic offerings and ranking top 3 across multi-bank NDF streaming platforms. 

A key competitive edge of Crédit Agricole CIB is its ability to cope with different market situations while seizing opportunities. Through cutting-edge technologies, streamlined clearing and execution processes, as well as staying close to market trends and regulations that may impact FX trading, Crédit Agricole CIB is staying at the forefront of NDF trading in Asia and beyond. To date, Crédit Agricole CIB is among the few liquidity providers that support streaming NDF for both main tenors and broken dates to offer clients greater flexibility and precision in their hedging strategies.

With a strategic approach to develop its infrastructures, Crédit Agricole CIB takes pride to make accessibility and connectivity as competitive advantages in its NDF solutions. In 2024, Crédit Agricole CIB became the first foreign bank to execute NDF deals via the China Foreign Exchange Trade System (CFETS), showcasing its commitment to bridging foreign exchanges markets and evolving with new capabilities. Last year, the Bank also set up a new team in Dubai to strengthen its credentials in Middle Eastern currencies and bridge 24/7 NDF clearing and execution across time zones. The team has helped a Abu Dhabi company in deploying a customised NDF solution to procure assets in South Korea.

In addition to day-to-day activities, Crédit Agricole CIB actively participates in industry events to share insights on emerging trends and foster market growth. Last July, the Bank co-hosted an event with CFETS to explore NDF trends with other market participants, where Jim Tsim, Head of Asian Non-Deliverable Forward and G10 FX Asia, presented NDF models and pricing mechanisms.

Being an active liquidity provider with an extensive footprint in Asia-Pacific, Crédit Agricole CIB strives to provide consistent and competitive pricing for clients to ensure a seamless facilitation of their FX hedging needs. The exceptional growth of its NDF business in 2024 reflects the Bank’s steadfast dedication to providing timely and innovative liquidity solutions to clients amid the evolving macroeconomic landscape.