01 August 2016

RMB-denominated securities in Austraclear now live

Today, ASX Austraclear’s ability to support the issuance, settlement and holding of RMB-denominated securities went live.

Austraclear, which is the primary settlement system for Australia’s wholesale debt securities market, has announced that, as of 1 August 2016, they are technically ready to enable issuances by Australian and offshore issuers of RMB-denominated securities into Austraclear.  This follows Austraclear’s creation of a real-time RMB settlement service which was completed in July 2014 and further facilitates the internationalisation of RMB in Australia.

Domestic and offshore market participants can take certain steps to ensure they are ready for multi-currency issuances in Australia, including the establishment of an RMB account.  In doing so, they will be able to identify and take advantage of opportunities to pay, receive, lend, borrow and invest in RMB securities in Australia.

See the Austraclear notice here.

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We explore the key issues being considered by clients looking to unlock investment opportunities in the People’s Republic of China.

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