The FINANCIAL — BNP Paribas Securities Services (BNP Paribas) is pleased to announce the launch of its comprehensive suite of settlement and custody services for Chinese, RMB-denominated bonds in Hong Kong, with the first trade settled on 22 September 2010.
Consistent with the Bank's continued focus on driving innovation in the Asia Pacific region and across its global network, this development immediately opens up Chinese currency investments to BNP Paribas' current and future clientele: both in Hong Kong and internationally. With RMB settlement volumes rising to a CNY7.2 bn monthly average since February 2010*, the region is already witnessing record and continued growth, presenting significant opportunities for international investors.
"This arrangement between Hong Kong and China will basically enable anybody to gain exposure to the Chinese Renminbi via Hong Kong – from anywhere in the world," commented Lawrence Au, Head of Asia Pacific, BNP Paribas Securities Services. "This development strengthens Hong Kong's role as a truly international gateway to China and we are pleased to be helping our clients to unlock the significant opportunities that this presents," he added.
This new service further re-enforces BNP Paribas Securities Services' position as a single platform to access Asian growth. Offered alongside all other global currencies, RMB bond custody will be accessible to all clients through a single-step: enabling seamless growth and helping them to transform complexity into opportunity.
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