Frankfurt
03 March 2017
Reporter: Stephanie Palmer

CCDC and Clearstream partner for CIBM access


Clearstream is partnering with the China Central Depository and Clearing Company (CCDC) to help support settlement and custody for overseas investors into the Chinese Interbank Bond Market (CIBM).

CCDC is a CSD for Chinese onshore fixed-income. The partnership is intended to combine the local nature of CCDC with Clearstream’s experience in servicing overseas clients, while respecting China’s regulatory frameworks and institutional arrangements.

It is intended to further facilitate entrance to the CIBM for overseas investors.

Shui Ruqing, chairman of CCDC, said: “We see this cooperation as an opportunity for both institutions to provide better cross-border depository and settlement services for renminbi (RMB) fixed-income products based on their respective platforms.”

Clearstream chairman Jeffrey Tessler added: “The Chinese market has always been at the centre of Clearstream’s Asia strategy, and Clearstream has been watching the development of CIBM and RMB financial asset-related services with great enthusiasm.”

In February 2016, the CIBM relaxed its rules and opened up to qualified overseas investors. So far, more than 430 overseas investors have entered the market and opened accounts with CCDC.

These CCDC accounts currently hold around RMB 800 billion (USD 116.5 billion) in bond assets, about 90 percent of the total bond holdings of overseas investors in CIBM.

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