Company Introduction

Founded on April 18, 1994, China Foreign Exchange Trade System (CFETS), also known as the National Interbank Funding Center, is a sub-institution directly affiliated to the People’s Bank of China (PBC).

CFETS adheres to the business principle of “using multiple technical approaches and various trading methods to answer demands from multi-tiered markets”. Under the strategic goal of becoming the “major global trading platform and pricing center for RMB and related products”, CFETS provides a series of services covering issuance, trade, post-trade processing, information, benchmark and training services for interbank FX market, money market and bond market via dedicated line and the Internet with advanced electronic information technologies.

As an important financial infrastructure in China, CFETS undertakes daily monitoring on market transactions, and also provides support and service for PBC’s monetary policy transmission and market self-regulatory organizations. CFETS publishes market benchmarks, including RMB Central Parity Rate, Shanghai Interbank Offered Rate (Shibor), CFETS RMB Index, Loan Prime Rate (LPR), RMB Reference Rate, Bond Indices, yield curves, etc., offering reference prices for the market.

Read more about CFETS at http://www.chinamoney.com.cn/

BCCL is a joint venture established by CFETS and HKEX to support Bond Connect related trading services. CFETS is a major global trading platform and pricing center for RMB and related products, while HKEX is a leading operator of exchanges and clearing houses based in Hong Kong.

Bond Connect is a breakthrough in China mutual market access, allowing investors from Mainland China and overseas to trade in each other's bond markets through a market infrastructure linkage in Hong Kong. Northbound trading commenced on 3 July 2017, offering China Interbank Bond Market (CIBM) access to a broader group of international investors, and Southbound trading was launched 24 September 2021, providing a convenient and efficient channel for Mainland institutional investors to invest in offshore bonds through the Hong Kong bond market.

Established in Hong Kong in 2017, BCCL supports the admission and registration of Northbound investors, liaises closely with the Recognised Access Platforms through which international investors are able to trade CIBM instruments, provides datafeed services, and conducts investor education activities in relation to Bond Connect. On the primary market front, BCCL facilitates dissemination of Chinese primary bond market information, supports NCD primary subscription, and offers a one-stop electronic solution for bond issuance through its ePrime system.

HKEX Group is a leading financial market operator in the world.

From its home in the financial hub of Hong Kong and an additional base in London, HKEX provides world-class facilities for trading and clearing securities and derivatives in Equities, Commodities, Fixed Income and Currency.

Uniquely positioned at the intersection of Chinese and international capital flows, Hong Kong has long been connecting China with the world. With the accelerated opening-up of China’s capital markets, HKEX continues to be a pioneer at the forefront of this historic transition, which it believes will reshape the global market landscape.

Read more about HKEX at http://www.hkexgroup.com