Singapore Exchange (SGX) and Industrial and Commercial Bank of China Limited (ICBC) have signed a memorandum of understanding (MOU) to collaborate on enhancing the links between Singapore and China’s capital markets. We are pleased to be working with SGX to encourage Chinese companies’ participation in Singapore’s capital markets. Join the iFX EXPO Asia and discover your gateway to the Asian Markets Join the industry leaders at the Finance Magnates London Summit, 14-15 November, 2016. Register here! “We look forward to working with ICBC to enhance the collaboration between China and Singapore’s capital markets, supporting Chinese companies to raise capital and seek investment opportunities through Singapore, whilst also helping to further internationalise the RMB”, said Chew Sutat, Head of Equities and Fixed Income. If Time is Money, Why Don’t Funds Move Fast Enough for Traders?Go to article >> Under the MOU, SGX and ICBC will collaborate to promote Singapore’s capital markets and support Chinese companies seeking to list equities or bonds on SGX, with a focus on real estate investment trusts (REITs) and offshore RMB bonds. The support will include providing guidance on the listing process, listing rules as well as post listing marketing support in both China and Singapore. SGX and ICBC will also explore collaboration in derivatives trading, bond trading and market making of RMB denominated contracts listed on SGX. Zhang Weiwu, General Manager of ICBC Singapore branch, added: “As China’s largest bank and Singapore’s sole RMB clearing bank, we are pleased to be working with SGX to encourage Chinese companies’ participation in Singapore’s capital markets, especially as Chinese companies continue to adopt an increasingly global outlook in their growth, expansion and funding prospects.”
A memorandum of understanding (MOU) has been signed between the Singapore Exchange (SGX) and Commercial Bank of China Limited (ICBC) to develop derivatives trading, bond trading and market making of Ren Min Bi dominated contracts registered on SGX. The MOU is expected to be implemented in a phased manner over three years with an initial focus on equity derivatives.