Friday June 9 2017
News Source: Global Exchanges
Focus: General - Global Exchanges
Type: General
Country: International
Link: https://www.hkex.com.hk/eng/newsconsul/hkexnews/2017/1706072news.htm
China Foreign Exchange Trade System (CFETS) and Hong Kong Exchanges and Clearing Limited (HKEX) announced on 7th June 2017, the formation of a joint venture company in Hong Kong, Bond Connect Company Limited (BCCL), to support Bond Connect related trading services.
Bond Connect is a new mutual market access scheme that will allow investors from Mainland China and overseas to trade in each other’s bond markets through a market infrastructure linkage in Hong Kong, as announced by the People’s Bank of China (PBC) and Hong Kong Monetary Authority (HKMA) on 16 May 2017. Per the regulators’ announcement, Northbound trading – international investors accessing the China Interbank Bond Market (CIBM) – will begin first, while Southbound trading will be explored at a later stage.
BCCL will support and assist admission and registration for Northbound investors, and liaise closely with the global access platforms through which Northbound investors will trade CIBM instruments. CFETS and its subsidiary company own 60 per cent of BCCL, while 40 per cent is owned by HKEX. BCCL will actively proceed with related work under the guidance of PBC and HKMA.
Please click on the above link for more information.