Hong Kong's CMU OmniClear officially launched asset servicing for equities under the linkage between Central Moneymarkets Unit (CMU) and Switzerland's SIX as Bank of China (Hong Kong) (2388) became the first CMU member.
This move follows the activation of the direct linkage between CMU, operated by CMU OmniClear and Switzerland's national central securities depository (CSD), SIX, in July this year, a major step in CMU's transformation into a one-stop multi-asset class post-trade securities infrastructure.
Under the linkage, CMU Members can invest in, settle and hold Swiss and Spanish securities through CMU's nominee account with SIX.
Stanley Chan, chief executive of CMU OmniClear, said it is a significant step towards facilitating cross-border investments and strengthening financial cooperation between Hong Kong and European markets. It also demonstrates our capability to support Chinese investors' outbound investment into markets beyond Hong Kong and Asia, meeting their growing demand for global asset allocation.
Wang Huabin, deputy chief executive of BOCHK, said, "BOCHK is pleased to become the first bank in Hong Kong to participate in CMU's direct linkage with SIX and its one-stop asset servicing platform."
"As demand from Chinese Mainland investors for global asset allocation continues to grow, this initiative further reinforces Hong Kong’s strategic position as both a 'super connector' and 'super value-adder', serving as a gateway between the Chinese Mainland and international markets," he added.
Frank Feng
