China Construction Bank selects Euroclear’s international ETF structure for first RMB listing

Hong Kong and Brussels - 25 March 2015

Euroclear Bank, the Brussels-based international central securities depository (ICSD), and CCB International Asset Management Limited (CCBIAM), the asset management arm of CCB International (Holdings) Limited (“CCB International”), and Commerzbank AG have teamed-up to issue the first ever RMB-denominated money market ETF in international form: Commerzbank CCBI Investment Funds ICVC - Commerzbank CCBI RQFII Money Market UCITS ETF.

In this industry first, the ETF will be listed and traded in RMB, GBP and EUR on the London Stock Exchange, and settle directly in the ICSD – Euroclear Bank. CCBIAM and Euroclear Bank have combined their efforts to launch RMB settlement and laid the foundations for future RMB-denominated ETFs to develop in European markets.

Dr. Hu Zhang Hong, Chief Executive Officer of CCB International stated: "Our partnership with Euroclear is the result of months of co-operative discussion about how we can best tap into London-based investors, and in future, other pools of wealth. London has long been a champion in promoting initiatives and enhancing infrastructure, and has become a vibrant RMB center. I would like to pay tribute to the key infrastructure provider – Euroclear – in making today's launch a reality. But this is just the beginning; we will continue the fruitful dialogue on the international RMB market with our Hong Kong and mainland regulators and our partners in Europe."

Stephan Pouyat, Global Head of Capital Markets at Euroclear, commented: "We are proud to partner with CCBIAM in its historic decision to move ahead with today's inaugural trading day of its first ever UK-based off-shore-RMB ETF in international form. Extending RMB issuance in Europe is a natural fit for us and showcases the value of our international platform as well as our global client base. An international ETF model such as this supports our clients’ quest for greater portfolio diversification possibilities and investment choices. It is an honour to be the infrastructure provider of choice to support CCBIAM's ambition to distribute its ETF beyond Europe into Asia and America."

 

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