Tradeweb Markets Inc., one of the world’s leading electronic market operators in fixed income, credit, equities and money markets, announced have carried out its first Southbound Bond Connect transactions through a commercial link between Tradeweb and the China Foreign Exchange Trade System (CFETS).
“The Southbound Bond Connect is the final step into the Chinese financial market, which offers domestic investors more flexibility and choice to trade bonds offshore”
“The Southbound Bond Connect is the final step towards the Chinese financial market, which offers domestic investors more flexibility and choice to trade bonds offshore,” said Lee Olesky, CEO of Tradeweb Markets. “With CFETS, our objective is to better meet the demand of onshore investors to offer them simplified access to global investments. We will increase our efforts to improve the trade link by deploying new innovative trading features, just as we did with the Northbound Bond Connect stage ”.
Southbound Bond Connect helps to better diversify fixed income portfolios for institutional investors in China. Tradeweb works closely with CFETS to create a seamless trading experience with offshore and onshore institutions via the electronic RFQ management system. As part of Southbound Bond Connect, Tradeweb supports transactions of various negotiable bonds on the Hong Kong bond market, denominated in CNH, HKD, EUR, GBP and USD.
James Sun, Asia Regional Manager at Tradeweb, said: “We were the first platform to facilitate Northbound trading on Bond Connect over four years ago, and we are here again for this first day of trading. of the Southbound. Today’s launch offers onshore investors expanded access to overseas liquidity, pre-trade transparency and innovative trading mechanisms on the Southbond Bond Connect ”.
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In 2017, Tradeweb was chosen as the first trading link to the Northbound stage of Bond Connect, for its positive role in the design, creation and development of the initiative. More than 2,730 offshore investors in 34 jurisdictions have accessed the China Interbank Bond Market (CIBM) through the Northbound Channel which, along with CIBM Direct, is one of the main entry points to Chinese debt markets for foreign investments.
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