The Bank of China today received authorisation via its Frankfurt branch office as a trading and clearing participant on the Deutsche Börse Group cash market.
This will provide Chinese issuers and Asian investors with direct access to the German and European capital markets. The Bank of China Frankfurt Branch is the first Chinese clearing participant at Deutsche Börse based in the euro area.
“We are pleased to be able to offer our Chinese issuers direct access to one of Europe's most liquid trading venues from now on. Deutsche Börse's trading platforms are transparent and equipped with the highest standard of security mechanisms. They offer our clients attractive opportunities for expanding their presence in Europe,” Mr. LI Guang, President of Bank of China Frankfurt Branch said.
Andreas Preuss, Deputy CEO of Deutsche Börse AG, said of the authorisation, “We are delighted to have authorised the Bank of China as the first Chinese trading and clearing participant. This is a next essential milestone for the close strategic cooperation between Deutsche Börse and the Bank of China. It is also another key milestone in our extensive value chain in Asia.”
Deutsche Börse and the Bank of China announced their strategic cooperation in Berlin in the presence of President Xi Jinping and Chancellor Angela Merkel in March this year. In addition to the admission as trading and clearing participant, Deutsche Börse and Bank of China continue their strategic cooperation in the asset servicing, securities safekeeping and Renminbi business.