Market Link Guide - China - China Interbank Bond Market
Key features
Key services | Yes/No | Remarks | |
Settlement free of payment | No | Unless for portfolio transfer (change of settlement agent). | |
Settlement against payment | Yes | RMB only (Onshore CNY). | |
Bridge settlement | No | ||
Shaping facility | No | ||
Partial settlement | No | ||
Settlement penalty fees | No | Broker monitors available holding balances on pre-trade basis to avoid any short-selling. | |
Pre-matching | No | ||
Back-to-back processing | No | ||
Allegements | No | ||
Automatic compensation | No | ||
Registered securities | Yes | Registration takes place automatically upon settlement. | |
Multi Market Securities | No | ||
Lending and borrowing | No | ||
Proxy voting | No | ||
Investment Funds | No | ||
Liquidity Hub Connect | No | ||
Sale and purchase of rights | No | ||
Repo services | No | ||
Market restrictions | No | Eligible investors are required to file for registration with PBOC prior to investment in the China Interbank Bond Market. Segregated accounts per investor are opened at the CSD level and in HSBC’s books. | |
FTT | No | ||
FATCA GIIN | No | ||
Miscellaneous | Yes | The opening of individual investor accounts by CBL is not permitted. Eligible customers have to open a separate CBL account for investment into the China Interbank Bond Market. | |
| LEI | Yes | HSBC China: 2CZOJRADNJXBLT55G526 | |
Type of link | CSD or settlement method | |
Out of network link via HSBC China | China Central Depository and Clearing Corporation Ltd (CCDC) Shanghai Clearing House (SCH) | |