Key Information

inSight
Speeches
Speeches by Speaker
Norman T.L. Chan
Peter Pang
Eddie Yue
Arthur Yuen
Raymond Li
Edmond Lau
Esmond Lee
Meena Datwani
Vincent W.S. Lee
James Lau
Joseph Yam
Y K Choi
William Ryback
David Carse
Tony Latter
Andrew Sheng
Hans Genberg
Simon Topping
Michael Taylor
The Honourable Donald Tsang
Chen Yuan
Dai Xianglong
Don Brash
Jaime Caruana
Andrew Crockett
Mario Draghi
David Eldon
Stanley Fischer
Timothy F. Geithner
Stephen Grenville
Kenneth G. Lay
William McDonough
Ernest Patrikis
Glenn Stevens
Jean-Claude Trichet
Tarisa Watanagase
Zeti Akhtar Aziz
Press Releases
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
Press Releases by Category
Bogus Voice Message Phone Calls
Banking in Hong Kong
Fraudulent Websites, E-mails and Telephone System, and other fraud cases
Granting of Banking Licences
Exchange Fund
Table of Multiples of Notes and Payments for Allotted Amount under non-competitive tender
Table of Multiples of Notes and Payments of Application Amount under non-competitive tender
Tender of Exchange Fund Bills and Notes
Tender Results of Exchange Fund Bills and Notes
Tentative Issuance Schedule for Exchange Fund Bills and Notes
Appointments and Departures
HKMA Pay Review
HKMA Publications
Speeches
The Hong Kong Mortgage Corporation
Hong Kong Note Printing Limited
Hong Kong Institute for Monetary Research
Exchange Fund Investment Limited
Others
Hong Kong Financial Infrastructure
International Relations
Investment Products Related to Lehman Brothers
Monetary Policy
Notes and Coins
Renminbi business
Credit Card Lending Survey
Monetary Statistics
Residential Mortgage Survey
Year 2000
Others
Guidelines and Circulars
Guidelines
Circulars
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
453.1281

Press Releases

Joint Announcement of the Shanghai Clearing House and the Hong Kong Monetary Authority Central Moneymarkets Unit on the provision of the custody and settlement service for the Bond Connect

According to the ‘Joint Announcement of the People’s Bank of China and the Hong Kong Monetary Authority’, Shanghai Clearing House (SHCH) and the Central Moneymarkets Unit of Hong Kong Monetary Authority (CMU) jointly issue this announcement on the mutual access arrangement regarding custody and settlement under the Bond Connect:

  1. SHCH is the bond market infrastructure institution authorised by the People’s Bank of China (PBoC) to provide the custody and settlement service for debt securities. CMU is the bond market infrastructure operated by the HKMA. SHCH and CMU will jointly provide the custody and settlement service for the Bond Connect through a connection between the two infrastructures.
  2. Mutual access between SHCH and CMU with respect to the custody and settlement service will cover Northbound Trading in the initial phase. Overseas investors will be able to invest in the China Interbank Bond Market (CIBM) through the mutual access arrangement between CMU and SHCH. Relevant arrangements for Southbound Trading will be separately announced having regard to the directive of the Mainland and Hong Kong regulators.
  3. Overseas investors investing in the CIBM through the Bond Connect shall hold their bonds using the nominee holding arrangement. SHCH is the ultimate central securities depository (CSD) and CMU will be the nominee holder of the bonds. A legal agreement will be signed between SHCH and CMU to set out the respective rights and obligations of the two entities under such an arrangement.
  4. The scope of eligible investors and bonds for overseas investors investing in the CIBM through the Bond Connect shall be the same as that for overseas investors investing directly in the CIBM. All bonds registered and deposited in SHCH are eligible for investment under the Bond Connect.
  5. SHCH provides the settlement service on a Delivery-versus-Payment (DvP) and gross settlement basis for overseas investors investing in the CIBM through the Bond Connect.
  6. Information reporting in respect of SHCH, CMU and overseas investors investing in the CIBM through the Bond Connect will be carried out according to the requirements of the Mainland and Hong Kong regulators.
  7. SHCH and CMU will prepare detailed operation rules specifying the requirements relating to custody and settlement for overseas investors participating in the Bond Connect. The detailed rules will be implemented upon approval by the Mainland and Hong Kong regulators.

 

19 May 2017

Last revision date: 19 May 2017
ABOUT THE HKMA
The HKMA
Tender Invitations
Careers@HKMA
Legislative Council Issues
Links
The HKMA Information Centre
KEY FUNCTIONS
Monetary Stability
Banking Stability
International Financial Centre
Exchange Fund
PUBLICATIONS & RESEARCH
Annual Report
Half-Yearly Monetary & Financial Stability Report
Quarterly Bulletin
HKMA Background Briefs
Reference Materials
Research
MARKET DATA & STATISTICS
CMU Bond Price Bulletin
Economic & Financial Data for Hong Kong
Monthly Statistical Bulletin
Monetary Statistics
KEY INFORMATION
Press Releases
Speeches
Guidelines & Circulars
Forthcoming Events
inSight
OTHER INFORMATION
Account Opening
Consumer Corner
Consumer Education Programme
Complaints about Banks
Complaints about SVF Licensees
Internet Banking
Fraudulent Bank Websites, Phishing E-mails and Similar Scams
Be Careful of Bogus Phone Calls and SMS Messages
Authenticate the Callers and Bank Hotline Numbers
Register of AIs & LROs
Register of Securities Staff of AIs
Register of SVF Licensees
Investment Products Related to Lehman Brothers
Photo Gallery