Monday September 12 2016
News Source: Global Exchanges
Focus: Other
Type: General
Country: Australia
Link: http://www.asx.com.au/documents/media/asx-rmb-securities-depository-service.pdf
ASX has announced that it has launched a renminbi (RMB) securities depository service. The new service extends the portfolio of RMB services developed by ASX in cooperation with the Bank of China Limited, Sydney Branch (Bank of China) for Australia’s financial markets.
The depository service will enable issuers to issue RMB-denominated securities directly into Austraclear and for Austraclear participants to settle and hold RMB-denominated securities in Austraclear.
Austraclear, a wholly owned ASX subsidiary, is Australia’s settlement system and central securities depository for the wholesale debt market. Its systems provide customers with secure and guaranteed delivery of cash or securities, and efficient electronic registration and record-keeping of transactions.
Since July 2014, Austraclear has supported RMB cash settlement by providing real-time straight-through processing links to Hong Kong (via CHATS RTGS), mainland China (via CNAPS) and the rest of the world (via CIPS). Now, Austraclear will provide full end-to-end support: the issuance, settlement and holding of RMB denominated securities as well as cash.
Click on the link above for further details