RMB internationalisation accelerates with launch of CEINEX

Nov 18th, 2015 | By | Category: ETF and Index News

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The internationalisation of the Renminbi has accelerated with the official launch of the China Europe International Exchange (CEINEX), a joint venture between the Shanghai Stock Exchange, Deutsche Börse and China Financial Futures Exchange. The new exchange, which is based in Frankfurt, is the culmination of a collaboration between the three groups to improve European investors’ access to Chinese securities.

RMB internationalisation accelerates with the launch of CEINEX

Renminbi internationalisation has marked a step forward with the launch of CEINEX, a dedicated platform for authorized RMB-denominated trading outside mainland China.

The exchange offers investment products, such as exchange-traded funds, based on Chinese underlyings to international investors and becomes the first and only dedicated platform for authorized RMB-denominated trading outside mainland China.

“Today’s start of market operation is a major milestone to establish the world’s first authorized Renminbi market outside mainland China. We aim to steadily expand our product offering to further increase the attractiveness of CEINEX for international investors,” said Han Chen, Co-CEO of CEINEX.

“We are very pleased by the support of market participants like Bank of China International, China Construction Bank and Commerzbank which provide essential support to commence trading from the beginning. More market participants are getting ready and will join soon,” added Jianhong Wu, Board Member, CEINEX.

CEINEX has inaugurated with the listing of two RMB-denominated ETFs structured in partnership with German investment bank Commerzbank: the Bank of China International (BOCI) Commerzbank SSE 50 A Share Index UCITS ETF (BOC1) and the Commerzbank CCBI RQFII Money Market UCITS ETF (CCMR).

The Bank of China ETF, which makes it debut, tracks the performance of the SSE50 Index, a portfolio of the 50 most representative stocks from the Shanghai security market. The fund is able to directly hold A-shares through its participation in the Shanghai-Hong Kong Stock Connect.

The China Construction Bank ETF offers RMB-denominated exposure to Chinese money market instruments. This ETF is already listed across a number of European exchanges, including the London Stock Exchange. The fund offers access to the interbank bond market in Mainland China and highlights the growing activity of offshore renminbi trading in Europe.

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