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Deeper FMI Cooperation to Promote More Openness ——CCDC and TMX Group Signed a Cooperation Memorandum

On October 10, 2018, China Central Depository & Clearing Co., Ltd. (CCDC) and TMX Group, the largest exchange group in Canada, held a signing ceremony of memorandum in Beijing.

In recent years, as the People's Bank of China steadily pushes forward the opening of the Chinese bond market, CCDC, an important financial infrastructure of the country, in line with the overall deployment of the national strategy of financial market opening up, has been actively implementing the policies of the regulatory bodies and striving to build itself as an important portal and platform for the opening of the bond market, which provides quality life-cycle services to the bond market participants. By the end of September 2018, 732 foreign institutions had opened accounts with CCDC with the total holding of bonds over 1.44 trillion yuan.

As the need of foreign institutions for RMB bond assets continue to grow and the pace of their entry into local market to accelerate, the opening of the bond market will usher in more opportunities and challenges. The signing of the Memorandum of Understanding between CCDC and TMX Group is another step to actively implement the PBC's bond market opening policy arrangements and to explore interconnection of domestic and overseas financial infrastructure. The event will further pushing forward the opening up of China bond market, promote the internationalization of Chinese financial institutions and allow a more broad based sharing of  dividends of opening-up reforms.

CCDC and TMX Group will establish a joint working mechanism to deepen exchanges and researches while respecting their respective market regulatory requirements and business models. Both sides will enhance mutual understanding, seek cooperation in providing lower-cost cross-border securities investment services to North American investors, and support the Chinese bond market to achieve higher levels of openness.

    Publish on :10/15/2018 08:59
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