Deutsche Börse, Shanghai Exchange, China Financial to Launch New Exchange Venue CEINEX
China Europe International Exchange to offer trading of RMB-denominated offshore products outside mainland China.
Due to launch on November 18, CEINEX will be the first platform to facilitate trading of renminbi (RMB)-denominated offshore products outside mainland China following an agreement between SSE, CFFEX, and Deutsche Börse.
CEINEX will offer investment products based on Chinese underlyings to international investors, starting with cash market products like ETFs and bonds, while cash market instruments will be tradable via Xetra, Deutsche Börse's cash marketplace.
"CEINEX is a milestone in the strategic cooperation amongst our three exchanges," says Carsten Kengeter, CEO of Deutsche Börse Group. "Its value proposition to ‘trade China in international markets' is a major step forward in the internationalization of the RMB. It provides a sound basis for the development of a successful capital market between Europe and China."
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