China Construction Bank (CCB) Frankfurt Branch has obtained authorisation as a trading and direct clearing member to the cash and derivatives markets operated by Deutsche Boerse AG (ETR:DB1).
This is set to further bolster the accessibility of the German and European capital market to Chinese issuers and Asian investors. China Construction Bank Frankfurt Branch is the first Chinese direct clearing member at Eurex Clearing, for both cash and derivatives markets.
The admission also allows the CCB to participate in CEINEX, China Europe International Exchange, which is a joint venture established by Shanghai Stock Exchange (SSE), Deutsche Boerse and China Financial Futures Exchange (CFFEX) last year. CEINEX commenced operations in November 2015.
Michael Peters, Member of Eurex Frankfurt Executive Board, says,
“We welcome the China Construction Bank as member of the Frankfurt Stock Exchange as well as of Eurex and Eurex Clearing. CCB, the leading commercial bank in China and among the largest banks in terms of market capitalization globally, and its Chinese and Asian clients will benefit from direct access to the German and European capital markets.”
Mr. Xie Junle, General Manager of China Construction Bank Frankfurt Branch, says,
“We are pleased to be able to leverage our trading and direct clearing membership on Deutsche Börse Group to access both the cash and derivatives markets and to promote direct accessibility for Chinese investors. 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 China Europe International Exchange AG (CEINEX), adds:
“The admission of CCB enables the bank to directly participate in the market of CEINEX. This marks an important milestone and strengthens our efforts in promoting the development of our new liquidity pool for China and RMB-denominated products of CEINEX.”
You can view the official press release by clicking here.