Luxembourg
20 October 2016
Reporter: Stephanie Palmer

Clearstream and HSBC in CIBM collaboration


HSBC and Clearstream have paired up to offer Clearstream customers access to the China Interbank Bond Market (CIBM).

Clearstream’s overseas institutional investor customers will gain access to the bond marketplace, with HSBC acting as the onshore bond settlement agent and offering trade execution, settlement and custody services in the CIMB.

According to HSBC, the partnership is intended to increase foreign participation in the Chinese bond market, which is the third largest fixed-income market in the world, with a size of RMB 54 trillion ($8 trillion).”

Ian Banks, head of HSBC Securities Services for Asia-Pacific, said: “A deep and liquid domestic bond market is a key stepping stone to achieving China’s ambition of making the RMB a truly global currency.”

“Partnering with Clearstream places us in an excellent position to help foreign institutional investors tap into opportunities in CIBM.”

Philip Brown, co-CEO of Clearstream Banking, said: “This development coincides with an important milestone, the inclusion of the RMB into International Monetary Fund’s special drawing rights currency basket, which is expected to boost investors' demand for what is already the third largest bond market in the world.”

“This also represents our focus on Asia and will enable us to offer our clients an attractive and efficient solution to build and further develop their exposure to China's onshore bond market."

More clearing and settlement news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Caceis gains ICF bank trading platform mandate
21 December 2017 | Frankfurt | Reporter: Zsuzsa Szabo
Caceis has received a mandate from ICF Bank to be the settlement agent for the Frankfurt-based bank’s Quotrix platform
LCH establishes clearing of credit index options
20 December 2017 | London | Reporter: Jenna Lomax
The central counterparty is the first clearinghouse to implement a risk framework specifically for the clearing of credit index options
Post-trade upgrade on the cards for Saudi Stock Exchange
07 December 2017 | Riyadh | Reporter: Jenna Lomax
Nasdaq will replace Tadawul’s current post-trade registry, depository, clearing and settlement solution
CSD Prague opens a direct account in Euroclear Bank SA/NV
05 December 2017 | Frankfurt | Reporter: Drew Nicol
The account will allow the central securities depositary to access a wider range of services and to have access to many additional foreign markets, according to Euroclear
Japan earmarks Q2 2019 for T+2 settlement shift
07 November 2017 | Tokyo | Reporter: Drew Nichol
Japan has unveiled a “tentative” timeline for its exchanges’ shift from a T+3 to T+2 settlement cycle, with eye towards Q2 2019
Iberclear bank on Citi to provide global custody
20 October 2017 | Madrid | Reporter: Jenna Lomax
The agreement, signed at this years Sibos conference in Toronto, will enable Spanish clearing houses to settle international securities via local CSDs
Eurex Clearing launches partnership programme
09 October 2017 | Frankfurt | Reporter: Theo Andrew
The programme plans to build a “balanced ecosystem”, responsible for aligning responsibilities and benefits related to economics and governance, bringing “greater choice and transparency” to the market
More clearing and settlement news