Custodians

Agricultural Bank Of China Limited Hong Kong Branch

Agricultural Bank of China Limited (“ABC”) is one of China’s major integrated financial services providers. At the end of 2019, ABC’s total assets reached RMB 24.88 trillion, ranked No.36 in Fortune’s Global 500, and ranked No.3 in The Banker’s “Top 1000 World Banks” list in terms of tier 1 capital.

As one of the first custodian banks in China to operate custody business, ABC has rich experience in cross-border custody businesses and has won unanimous recognition from numerous world investors in terms of its safety, professionalism, high efficiency and comprehensive services. In 2018-2019, ABC consecutively won “the Best Sub-custodian Bank in China” award from Global Finance Magazine, and “the Best Custodian for Mutual Fund and QDII in China” award from Asset Magazine.

Agricultural Bank of China Hong Kong Branch devotes itself in offering omnibearing cross-border financial services to domestic and overseas customers, and is one of the pioneer participants in the Bond Connect market. As a member of CMU and RMB clearing bank, the Hong Kong branch is able to offer world investors one-stop services including safekeeping of assets, bond transactions as well as foreign exchange clearing. By means of its quality services and influential position in the market, ABC was presented with several awards by Bond Connect Company Limited in 2020, including “Bond Connect Top Market Maker”, “Bond Connect Top Issuer” and “Bond Connect Top Custodian”.

www.hk.abchina.com

Bank of China (Hong Kong) Limited

With the goal to “Build a Top-class, Full-service and Internationalised Regional Bank”, Bank of China (Hong Kong) Limited (“BOCHK”) leverages its advantages as a major commercial banking group in Hong Kong to increase local market penetration and expand business in the Southeast Asian region. As one of the three note-issuing banks and the sole clearing bank for Renminbi (“RMB”) business in Hong Kong, BOCHK maintains strong market positions in all major businesses. With our unique RMB franchise, we are the first choice for customers in this business. Through deep collaboration with our parent bank, Bank of China Limited, we provide a full range of high-quality cross-border services to multinationals, cross-border customers, mainland enterprises going global, central banks and super-sovereign organisations.

As a global custodian as well as a corporate trustee, BOCHK offers full-fledged asset services to institutions and companies of various kinds, be they asset owners, asset managers, intermediaries or securities issuers. Being an expert in RMB and China businesses, BOCHK further takes pride in its extensive involvement in various cross-border initiatives and Connect programs. Its wealth of professional expertise and experience in these regards defies comparison.

BOC Group fully embraces the Bond Connect scheme and has all along strived to achieve a leading position, being in the first batch to get approved for market access, to place orders, to settle trades and to handle the first new issue under the Bond Connect regime. Apart from rendering solid custody services and market guidance, BOCHK also offers highly favourable instruction cut-off times, a full suite of RMB treasury products and most competitive onshore and offshore FX rates to our clients. Working closely with the market, BOCHK is most glad to have received top accolades from Bond Connect Company Limited (BCCL) for two consecutive years.

We would stand ready to share more details and look forward to working in partnership with all Bond Connect investors. Please feel free to contact us via custody@bochk.com.

www.bochk.com

Bank of Communications Trustee Limited (BOCOM Trustee)

Bank of Communications Trustee Limited (“BOCOM Trustee”) was established in Hong Kong in 1981. It is a wholly owned subsidiary of Bank of Communications Co., Ltd (“BOCOM”), one of the oldest banks in China. BOCOM Trustee is a well-established trust company with strong financial strength and distinguished market reputation, with the long history of development, BOCOM Trustee continuously strengthens its service quality and competency, serves wide-range of customer category, and provides different variety of products and services.  

BOCOM Group understands the needs of our local community and the cross-border opportunities for Hong Kong, Mainland and foreign clients, we have extensive experience for serving Greater China and foreign institutional investors, and by integrating BOCOM Group’s onshore and offshore resources, we can offer a one-stop comprehensive and efficient solution for offshore investors investing in Bond Connect market.  BOCOM Head Office is one of the key Bond Connect Dealers, with its bountiful experience in China’s Interbank Bond Market, providing competitive bond and FX quotes as well as professional investment research reports. BOCOM Hong Kong Branch is one of the approved offshore RMB business participating banks in Hong Kong providing foreign exchange (CNY) and other hedging services. BOCOM Trustee being one of the CMU members as well as an approved Bond Connect custodian, can provide settlement and custodian services for Bond Connect investors in a professional and quality manner, we can also effectively coordinate with clients for the entire application arrangement with our rich custodian experience in Bond Connect.

https://www.bocomtrust.com.hk

BNP Paribas Securities Services

BNP Paribas Securities Services is a multi-asset servicing specialist with local expertise in 35 markets around the world and a global reach covering 90+ markets. This extensive network enables us to provide our institutional investor clients with the connectivity and local knowledge they need to navigate change in a fast-moving world.

As of 30 June 2019, BNP Paribas Securities Services had USD 11.590 trillion in assets under custody, USD 2.921 trillion in assets under administration and 10,531 funds administered.

https://securities.bnpparibas.com/

Citibank N.A.

With a continuing presence in Hong Kong since 1902, Citi has provided securities services in Hong Kong since 1975 and was the first foreign custodian bank in Hong Kong. Citi is committed to the Securities business and we are a leader in consistently enhancing our service capabilities and geographical footprint in this space both globally and in the Greater China region, offering industry leading securities and fund services capabilities to financial institutions, investment advisors, corporations and governments worldwide.

Citi offers comprehensive and innovative onshore and offshore China Market Access and RMB solutions leveraging Citi’s unrivalled strength in the emerging markets and deep market expertise in Hong Kong. Citi’s broad reach and experience in servicing international institutional investors and our close working relationship with the Hong Kong regulators enable us to maintain our position as a premier provider across all China Market Access channels, including Qualified Foreign Institutional Investor (QFII), Renminbi-Qualified Foreign Institutional Investor (R-QFII), China Interbank Bond Market (CIBM) Direct, Stock Connect, Bond Connect and RMB FX banks both onshore and offshore.

http://www.citigroup.com

DBS Bank Ltd., Hong Kong Branch

DBS Group ("DBS") is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world. 

Recognised for its global leadership, DBS has been named "World’s Best Bank in 2019" by Euromoney, "Global Bank of the Year in 2018" by The Banker and "Best Bank in the World in 2018" by Global Finance. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 11 consecutive years from 2009 to 2019.

DBS provides a one-stop service from custody to trading for Bond Connect investors.  Comprehensive account management services - including assistance with related documentation and custodial requirements are provided through its dedicated client servicing team, thus ensuring that our clients’ Bond Connect applications are seamless and all trades are successfully settled.

DBS is one of the leading banks in the China onshore interbank market, covering FX, bonds and derivatives.  With our strong onshore and offshore FX hedging capabilities, we can provide the best solution for the bond connect trades of our clients.

https://www.dbs.com/hongkong/default.page

ICBC (Asia)

Industrial and Commercial Bank of China (Asia) Limited is the overseas flagship of Industrial and Commercial Bank Group, which is the largest Chinese commercial bank by assets. The business scope of ICBC (Asia) Ltd includes Commercial Banking, Investment Banking, Securities, Insurance, Asset Management and Custodian .

ICBC (Asia) Ltd starts offering custody services since 2007.  Major types of products supported include global investment of institutional portfolios, QDII, QFII, RQFII, Stock Connect, Bond Connect, CIBM Direct, Hong Kong unit trust funds, offshore private funds and Escrow products. We provide global custodian services covering 90 markets with expertise in assisting clients to expand their investment portfolio.

ICBC (Asia) Ltd is one of the first participating banks of Bond Connect. We provide clients with comprehensive and efficient services under Bond Connect and have gained excellent market reputation. ICBC (Asia) Ltd achieved the “Bond Connect Best Custodians Award” in 2018 and also won both “Bond Connect Top Custodian Award” and “Bond Connect Marketing Award” in 2019.

ICBC (Asia) Ltd, with the edge as one of the CMU members and the CNY settlement Bank under Bond Connect, we provide comprehensive service package such as Safekeeping, Fund Administration, Bond Trading, Foreign Exchange and Bond Connect Pledging Financing, etc. We also have realized the data transmission with CFETS to increase the settlement efficiency.

ICBC (Asia) Ltd is dedicated to providing competitive services to overseas clients in exploring China Interbank Bond Market(CIBM).

https://www.icbcasia.com

The Hongkong and Shanghai Banking Corporation Limited

HSBC is a recognised leader in Hong Kong with over 60 years of experience in providing Direct Custody and Clearing services to the world’s leading global custodians and broker-dealers. We are the largest Custody bank in Hong Kong by assets under custody (AuC) and handle a significant share of foreign investors’ post trade activities in the market.

We are the largest foreign bank servicing overseas investors accessing the China Interbank Bond Market (CIBM), and were the first foreign bank to trade and clear bond transactions for overseas institutional investors since 2010. For Bond Connect, we were ready from Day1 with a single window solution Bond Execution, FX Settlement Bank and Custody. We continue to maintain market leadership in terms of number of Bond Connect accounts opened.

We lead various industry and working groups, including the Hong Kong Custodian Bank Working Group, and actively lobby with the regulators to promote enhancement and development of securities best practice. Additionally, our team in Shanghai and Beijing to remain close to regulators in Mainland China providing insight on international best practices.

HSBC Hong Kong has been recognized as an excellent and leading service provider over the years. We have been named the Best Sub-Custodian in The Asset Triple A Asset Asian Awards for the consecutive 10 years for 2009-2019. We were also named the “Bond Connect Best Custodians” twice.

https://www.gbm.hsbc.com/solutions/securities-services

J.P. Morgan

J.P. Morgan’s custody franchise has over four decades of experience in delivering safekeeping excellence through best in class asset servicing solutions and network management to our custody clients globally. We are a leading provider within a full service Corporate & Investment Bank, allowing us to leverage scale, expertise and our global network to the benefit of our clients.

We provide our clients an extensive network covering nearly 100 markets through J.P. Morgan affiliates and third party subcustodians in support of clients’ investment strategies.  We provide direct custody in over 10 markets including Hong Kong and through JPMorgan Chase Bank, N.A. Hong Kong Branch, we support our custody clients to invest in the China Interbank Bond Market through Bond Connect. 

J.P. Morgan has consistently maintained our leadership position through investments in our technology and by expanding our product and service offerings that make a difference to our clients.  Our extensive global footprint, enhanced operational efficiency and controls allow clients to best execute their investment strategy.

J.P. Morgan Securities Services:
https://www.jpmorgan.com/global/about/securities-services

Existing J.P. Morgan Securities Services clients should contact their Client Relationship team for more information.

Other interested parties should contact the below:

Standard Chartered Bank (Hong Kong) Limited

Standard Chartered has had a presence in Hong Kong for 160 years and is the oldest note-issuing bank in the city. It is committed to the development of the Hong Kong market by providing comprehensive financial services, leading market changes and maintaining excellence in service delivery.

Standard Chartered provides a full suite of securities services offering in Hong Kong. It has been in the forefront for the Bond Connect with a leading market profile since its launch in July 2017. The Bank holds all key licenses of the primary and secondary domestic bond markets and has been an active member in various industry groups to provide timely market updates and in-depth analysis to keep the clients abreast of latest developments.

Value Proposition

• Step-by-Step Guidance and Consultations - assist clients in the market access registration
• One-stop Customised Services - general advisory services, account opening, daily cash management, order placement, foreign exchange, regulatory reporting, registration process, custody and bond settlement services
• Prompt advisory - regulation interpretation and market update
• CNY FX Centralization - Standard Chartered clients can rely on their existing ISDA with Standard Chartered Group without repapering to Standard Chartered to access onshore CNY FX
• First to use CGB as a pledge - Standard Chartered’s prime services platform has expanded its range of eligible collateral to include Chinese government bond assets held via Bond Connect

• Best Bank for Securities Services - Global RMB 2018
• Bond Connect Top Custodian, Active Bank, Top Dealer - Bond Connect Company Limited
• Best sub custodian in Hong Kong - Global Finance Awards 2018
• Top rated - Global Custodian Survey and Global Investor Survey
• Excellent Institution - CFETS 2018, recognized for having experience in executing all eligible CNY hedging products (Spot, forward, FX swap, CCS and FX options) for Bond Connect

Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch