发展匿名点击交易机制提高市场交易效率——银行间本币市场交易机制创新回顾与展望

Improve anonymous one-click trading system to seek better trading efficiency ——Review and outlook of interbank RMB market innovations

为顺应金融危机之后全球场外衍生品电子化交易发展趋势，全国银行间同业拆借中心经过两年技术攻关，自主研发并先后推出了基于双边授信匿名点击交易两大新交易机制（X-Swap和X-Repo）。文章阐述了利率互换和质押式回购匿名点击业务的发展背景及意义，总结了新交易机制上线以来的业务运行情况，并对下一阶段发展进行了展望。

To comply with the trend of global OTC derivatives electronic trading after the financial crisis, National Interbank Funding Center spent two years in making technological breakthrough and developed two new trading systems, X-Swap and X-Repo, on the basis of bilateral credit and anonymous one-click trading. The article elaborates the background and significance of interest rate swap and pledge repo anonymous one-click trading, reviews the business operation since the launch of the new trading systems and then predicts its next development.