HSBC (00005) enables Clearstream customers to access CIBM

    HSBC (00005) announced today a partnership with Clearstream to enable customers of the international central securities depository (ICSD) to access China's Interbank Bond Market (CIBM).
  HSBC acts in the capacity of onshore bond settlement agent for Clearstream's overseas institutional investor customers, providing trading execution, settlement and custody services in the CIBM.
  "A deep and liquid domestic bond market is a key stepping stone to achieving China's ambition of making the RMB a truly global currency. Partnering with Clearstream places us in an excellent position to help foreign institutional investors tap into opportunities in CIBM which is the third largest fixed income market in the world with a size of approximately RMB54 trillion." said Ian Banks, Head of HSBC Securities Services for Asia-Pacific.
  Based in Luxembourg, Clearstream provides the post-trade infrastructure for the Eurobond
market and services securities from over 56 markets worldwide. Its customers comprise 2,500 financial institutions in more than 110 countries. With nearly EUR13 trillion in assets under custody, Clearstream is one of the world's largest settlement and custody firms for domestic and international securities.