CEINEX Launch ceremony with Chinese ambassador and the CEOs of SSE and Deutsche Börse
China Europe International Exchange (CEINEX), the joint venture of Shanghai Stock Exchange (SSE), Deutsche Börse and China Financial Futures Exchange (CFFEX) was successfully launched today in Frankfurt. First trades have already taken place in the first hours of market operations.
At 9 a.m. CET, the executive board members of CEINEX, Han Chen (Co-CEO) and Jianhong Wu (Board Member) opened the new market place with a bell ringing at the Trading Floor of the Frankfurt Stock Exchange. The launch ceremony took place in the presence of the Chinese ambassador Mr Shi Mingde and CEOs of the owners: Mr Huang Hongyuan, President of Shanghai Stock Exchange, and Mr Carsten Kengeter, CEO of Deutsche Börse AG.
The joint venture was agreed among the three partners at the end of May 2015 and has effectively been implemented within the last 6 months. At market launch, CEINEX offers ETFs based on mainland Chinese underlyings and a broad range of Renminbi-denominated (RMB) bonds. Amongst them, there are two new RMB denominated ETFs: the “Bank of China International (BOCI) Commerzbank SSE 50 A Share Index UCITS ETF (the “SSE 50 ETF”, ISIN LU1306625283), and the “Commerzbank CCBI RQFII Money Market UCITS ETF (the “Money Market ETF”, ISIN GB00BVJF7G73), all issued by Commerzbank in partnership with Bank of China International and China Construction Bank International respectively. The SSE 50 ETF is the first ETF in Europe tracking the SSE50 A-Share-Index while the Money Market ETF is the only RMB money market ETF, investing in onshore Chinese assets, available in Europe. Furthermore, one new corporate RMB bond issued by Bank of China Abu Dhabi (ISIN XS1254575415) is offered.
“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.
“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.
CEINEX – the China Europe International Exchange – offers investment products based on Chinese underlyings to international investors, starting with cash market products. CEINEX is the first and only dedicated platform for authorized RMB-denominated trading outside mainland China – offering attractive new trading opportunities to trade China in a most efficient manner, supporting RMB internationalization effectively.
It is a joint venture by Shanghai Stock Exchange, Deutsche Börse and China Financial Futures Exchange. The new market place was launched in November 2015.