First Chinese Money Market ETF lists in London

  • First London listed RMB denominated money market ETF to be traded and settled in RMB, GBP and EUR
  • Commerzbank CCBI RQFII Money Market UCITS ETF gives European investors access to China Interbank Bond Market securities
  • Confirms London’s leading role in continuing RMB internationalisation
  • Economic Secretary to the Treasury, Andrea Leadsom MP joins Market Open Ceremony at London Stock Exchange

London Stock Exchange today welcomes the ‘Commerzbank CCBI RQFII Money Market UCITS ETF’ to list in London. The new Exchange Traded fund (ETF) is the first to offer both institutional and retail investors exposure to money market instruments which invest in China’s CIBM.

To celebrate the listing Dr. Hu Zhanghong, CEO, CCBI, opened trading on London Stock Exchange alongside Andrea Leadsom MP, Economic Secretary to the Treasury; Minister Counsellor Jin Xu, Embassy of the People’s Republic of China to the United Kingdom and Xavier Rolet, CEO, London Stock Exchange Group.

The listing, the first of its type in any European market underlines London and London Stock Exchange’s pre-eminent position as the leading Western financial centre for trading of RMB products. London is at the forefront of RMB-product development and has recently introduced CNY and HKD trading for ETFs, supported by clearing and settlement. There are currently four RQFII ETFs listed on London Stock Exchange and since the first London listing in January 2014, RQFII ETFs have traded over £1.5 billion in value and accounted for over 7000 trades on London’s markets.  

Xavier Rolet, CEO, London Stock Exchange Group said:

“This is a landmark listing for London and an important sign of the market’s openness to new RMB product development. We are fully committed to supporting the efforts of the Chinese and the UK Governments in developing an off-shore RMB market in London through innovation and partnership.”

Minister Counsellor Jin Xu, Embassy of the People’s Republic of China to the United Kingdom said:

“Today, we witness a further achievement on building off-shore RMB center in London, which we hope to see more in the future.  I do believe, with passion and innovation, the U.K. can continually play an important role in the RMB internationalization.”

Andrea Leadsom, Economic Secretary to the Treasury said:

“The launch of this innovative new product, which will provide further opportunities for British and other global investors to invest directly into China, underscores Britain’s position as the western centre for offshore RMB and a global centre for asset management.

It’s also yet another example of the good relationship between Britain and China, building on last September’s Economic and Financial Dialogue where our two countries agreed the most significant package of measures ever on financial services.

“And it’s testament to our commitment to investment management. When the government launched the UK’s Investment Management Strategy in 2013, it was our intention to make the UK a major jurisdiction for fund domicile. So I am particularly pleased that CCBI has chosen to domicile this ground-breaking fund in the UK.”

 

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Tom Gilbert

+44 (0)20 7797 1222

newsroom@lseg.com

 

Notes to editors:

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) is a diversified international market infrastructure and capital markets business sitting at the heart of the world's financial community. The Group can trace its history back to 1698.

The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, a pan-European equities MTF. It is also home to one of the world’s leading growth markets for SMEs, AIM. Through its platforms, the Group offers international business and investors unrivalled access to Europe's capital markets.

Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of multi-asset global CCP operator, LCH.Clearnet Group, LSEG operates CC&G, the Italian clearing house; Monte Titoli, the T2S-ready European settlement business;  and globeSettle, the Group’s newly established CSD based in Luxembourg.

The Group is a global leader in indexing and analytic solutions. FTSE and Russell Indexes offer thousands of indices that measure and benchmark markets around the world.  The Group also provides customers with an extensive range of real time and reference data products, including SEDOL, UnaVista, Proquote and RNS.

Following the acquisition of Russell Investments, LSEG conducted a comprehensive review of the investment management business to analyse its strategic fit with the Group. This was concluded in February 2015, and LSEG is now exploring a sale of the business in its entirety.

London Stock Exchange Group is a leading developer of high performance trading platforms and capital markets software for customers around the world. In addition to the Group’s own markets, over 35 other organisations and exchanges use the Group’s MillenniumIT trading, surveillance and post trade technology.

Headquartered in London, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 4,700 people.

Further information on London Stock Exchange Group can be found at www.lseg.com