Bank of China has been authorised as a trading and clearing participant at Deutsche Börse, through its Frankfurt office.
The partnership was agreed in Berlin in the presence of Chinese President Xi Jinping and German Chancellor Angela Merkel in March. It is hoped it will provide Chinese issuers and Asian investors with direct access to German and European capital markets.
Bank of China Frankfurt branch is the first Chinese clearing participant at Deutsche Börse to be based in the euro area.
Li Guang, president of Bank of China Frankfurt branch said: “We are pleased to be able to offer our Chinese issuers direct access to one of Europe's most liquid trading venues from now on.”
“Deutsche Börse's trading platforms are transparent and equipped with the highest standard of security mechanisms. They offer our clients attractive opportunities for expanding their presence in Europe.”
This is the latest step in cooperation between Bank of China and Deutsche Börse, who will continue to work together in asset servicing, securities safekeeping and Renminbi business.
Deutsche Börse deputy CEO Andreas Preuss, said: “We are delighted to have authorised the Bank of China as the first Chinese trading and clearing participant.”
“This is a next essential milestone for the close strategic cooperation between Deutsche Börse and the Bank of China. It is also another key milestone in our extensive value chain in Asia.”
