Yuan-based trade starts in Frankfurt
TRADING in yuan-denominated securities started on the Frankfurt stock exchange yesterday, hailed as the first such market outside China.
The platform, first announced during Chancellor Angela Merkel’s visit to China last month, is to allow investors in Europe to trade securities denominated in the yuan.
It is the first yuan market authorized outside China, according to Han Chen, the platform’s joint CEO.
“The first trades have already taken place in the early hours of market operations,” exchange operator Deutsche Boerse said after the China Europe International Exchange, or CEINEX, opened at 9am local time.
The platform is a venture between Deutsche Boerse, the Shanghai Stock Exchange and the China Financial Futures Exchange.
For now, it offers trading in index-linked funds and “a wide range” of yuan-denominated futures, but more types of securities are to be made available, the joint CEO said.
After failing to merge with NYSE Euronext in 2012, Deutsche Boerse’s strategy has been to cooperate with Asia.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.