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The Bank of China today received authorisation via its Frankfurt branch office as a trading and clearing participant on the Deutsche Börse Group cash market. This will provide Chinese issuers and Asian investors with direct access to the German and European capital markets. The Bank of China Frankfurt Branch is the first Chinese clearing participant at Deutsche Börse based in the euro area.
“We are pleased to be able to offer our Chinese issuers direct access to one of Europe's most liquid trading venues from now on. Deutsche Börse's trading platforms are transparent and equipped with the highest standard of security mechanisms. They offer our clients attractive opportunities for expanding their presence in Europe,” Mr. LI Guang, President of Bank of China Frankfurt Branch said.
Andreas Preuss, Deputy CEO of Deutsche Börse AG, said of the authorisation, “We are delighted to have authorised the Bank of China as the first Chinese trading and clearing participant. This is a next essential milestone for the close strategic cooperation between Deutsche Börse and the Bank of China. It is also another key milestone in our extensive value chain in Asia.”
Deutsche Börse and the Bank of China announced their strategic cooperation in Berlin in the presence of President Xi Jinping and Chancellor Angela Merkel in March this year. In addition to the admission as trading and clearing participant, Deutsche Börse and Bank of China continue their strategic cooperation in the asset servicing, securities safekeeping and Renminbi business.
About Deutsche Börse Group
Deutsche Börse Group is one of the world’s leading service providers for the securities industry with a product and service offering for issuers, investors, intermediaries and data vendors. The Group offering covers the entire processing change from trading, through clearing, to settlement and securities custody. Moreover, Deutsche Börse's range of offerings comprises market data and indices as well as services for development and operation of IT systems.
About the Bank of China
The Bank of China is China's most international and diversified bank. It offers a broad range of financial services for clients across the Chinese mainland, as well as in Hong Kong, Macau, Taiwan and 37 other countries. The bank's core business is commercial banking, including corporate banking, personal banking and financial market services. The group's wholly-owned subsidiaries are active in investment banking, the insurance sector, direct investment and investment management. The controlled subsidiaries are involved in fund management and aircraft leasing. The Bank of China was the sole financial institution from emerging economies to be declared a global systemically important bank for three consecutive years from 2011 to 2013. The bank reported total assets of RMB 12,680 billion at the end of 2012.
About Bank of China Frankfurt Branch
Bank of China Frankfurt Branch was founded in May 1989 and is located in the German financial centre Frankfurt am Main. In accordance with its operating license, Bank of China Frankfurt Branch is able to provide the whole range of commercial banking businesses. The branch works in strong cooperation with other Bank Of China branches around the world and has ca. 200 employees in Germany of which 140 are located in Frankfurt am Main.
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