China Government Securities Depository opens link with Clearstream

Source: China Government Securities Depository

China Government Securities Depository Trust & Clearing Co. Ltd, the Chinese central securities depository, is opening a link with Clearstream, the international central securities depository within the Deutsche Börse Group.

By the end of August 2007, qualified members of CDC will be able to settle and safekeep international securities via CDC's account with Clearstream. This link will facilitate access to post-trade services for financial institutions in China and provide them with opportunities in international markets. Prior to this link, Clearstream and CDC signed a 'Memorandum of Understanding' in 2005, clearly showing Deutsche Börse Group's commitment to Asia.

China Government Securities Depository Trust & Clearing Co. Ltd was established in 1996 to provide custody, settlement and information services for government securities, policy financial bond, corporate bonds and asset-backed securities, money market instruments and over-the-counter transactions. A state-owned non-bank financial institution authorized by Ministry of Finance and the People's Bank of China, CDC is responsible for government bond custody, bond registration, and settlement in the interbank bond market.

Philippe Metoudi, Director relationship management for Asia-Pacific, Middle East and Africa said, "this new link demonstrates Clearstream's commitment to facilitate market openness and to create solutions in response to customer and market needs. It underlines Clearstream's commitment to Asia where we have had a regional office in Hong Kong for over 16 years. We are pleased to deliver enhanced services to market participants in the region and to further participate to the development of the Chinese Capital Markets."

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