China Construction Bank wins clearing authorisation
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China Construction Bank wins clearing authorisation 18 March 2016Frankfurt Reporter: Stephanie Palmer
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The Frankfurt branch of China Construction Bank has received authorisation as a trading a direct clearing member for cash and derivatives markets operated by Deutsche Börse Group.
The approval means Chinese issuers and Asian investors will be able to access the German and European capital markets more easily. The bank will also be able to participate in the China-Europe International Exchange (CEINEX).
China Construction Bank Frankfurt branch is the first Chinese direct clearing member at Eurex Clearing for both cash and derivatives markets.
Michael Peters, a member of Eurex Frankfurt executive board, said: “We welcome the China Construction Bank as member of the Frankfurt Stock Exchange as well as of Eurex and Eurex Clearing.”
“China Construction Bank, the leading commercial bank in China and among the largest banks in terms of market capitalisation globally, and its Chinese and Asian clients will benefit from direct access to the German and European capital markets.”
Xie Junle, general manager of China Construction Bank Frankfurt branch, said: “Deutsche Börse's trading platforms are robust, transparent and provide highest standards in regards to security mechanisms. Moreover, we are excited to support the mission of CEINEX to establish a bridge between China and international markets.”
Chen Han, CEO of CEINEX, said: "This marks an important milestone and strengthens our efforts in promoting the development of our new liquidity pool for China and renminbi-denominated products of CEINEX."
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