HKEx welcomes listing of Hong Kong’s first RMB bond ETF
18 June 2013
News, Asia, China, Hong Kong
By Asia Asset Management
Hong Kong Exchanges and Clearing Limited (HKEx) welcomes the listing of Asia’s first offshore renminbi (RMB) bond exchange traded fund (ETF) on The Stock Exchange of Hong Kong Limited, a wholly-owned subsidiary of HKEx, today (June 18).
The iShares RMB Bond Index ETF listed by iShares Asia Trust is an RMB-denominated physical ETF that will be traded and settled in both Hong Kong dollars and RMB. There will be two counters of the same class, with holders of units of the counters treated equally. The two counters will have different stock codes (3139 and 83139 for the HK$ and the RMB counters respectively) and slightly different names for easy identification.
The listing of the dual counter ETF increases the number of RMB-denominated ETFs listed on the exchange to seven and the total number of listed ETFs to 110, including three bond ETFs.
“We are pleased to facilitate the launch of our first RMB bond ETF on the exchange,” said Romnesh Lamba, HKEx’s co-head of global markets. “With the launch of this product, investors will be able to access the first ever RMB-denominated fixed-income ETF in our securities market. This is another milestone in the development of RMB products on the HKEx platforms.”
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