SGX Launches Depository Services for RMB Bonds
The addition of this depository service adds to SGX’s current offering of listing, quotation, trading, clearing and settlement of RMB-denominated securities and listing of offshore RMB bonds. SGX is also the world’s first exchange to offer the clearing of over-the-counter foreign exchange forwards for RMB.
Magnus Bocker, CEO of SGX, said: “Our enhanced RMB capabilities support customers interested in the internationalisation of the RMB and the growth of the Chinese economy. It will also complement the Industrial and Commercial Bank of China’s yuan clearing service to participating banks, which starts today. As Singapore’s role as an international offshore RMB centre becomes increasingly important, customers coming to SGX can be assured of our commitment to keep growing and enhancing our suite of RMB and China-related products and services.”