CEINEX established as new RMB internationalisation force

Shanghai Stock Exchange (SSE), Deutsche Börse Group and China Financial Futures Exchange (CFFEX) confirm the official launch of their joint venture “China Europe International Exchange”. They say this new marketplace for the trading of RMB-denominated offshore products will be launched on November 18 as CEINEX.

Frankfurt-based CEINEX will offer investment products based on Chinese underlyings to international investors, starting with cash market products like ETFs (exchange-traded funds) and bonds. All cash market instruments will be tradable via Xetra, Deutsche Börse’s established cash marketplace with approximately 200 participants. CEINEX is described as the first dedicated platform for authorised RMB-denominated trading outside mainland China – offering attractive new trading opportunities to trade Chinese products in an efficient manner to further supporting RMB internationalisation. The management board comprises senior officers and professionals from the three exchanges.

SSE chairman Gui Minjie said: “CEINEX is a brand new endeavour of SSE internationalisation as well as another crucial milestone in the opening up of the Chinese capital markets. With increasing economic interaction between China and Germany, I have faith that CEINEX will offer more convenient financial services to both countries and enterprises, and meet the demand for RMB securities from overseas investors. It will thus perform a pivotal role in the course of opening up the Chinese capital markets and increasing RMB internationalisation.”

CFFEX chairman Zhang Shenfeng said: “The foundation of CEINEX is not only a major achievement in strengthening financial co-operation between Germany and China, but also of strategic importance to the further opening-up of China’s capital market and the internationalisation of the RMB.”