UK Lists First Money Market ETF Quoted in Renminbi as it Steps-Up Offshore Chinese Trading
by
Adil Siddiqui
London continues to position itself as the future for overseas China financial trading as the LSE lists the first money market ETF, denominated in RMB, with the new instrument giving access to the Chinese economy.
UK-based retail and institutional investors will gain access to the growing Chinese market through a newly-listed financial instrument that is quoted in the county’s local currency. In a bid to strengthen its position as the dominant force in offshore Chinese markets, Britain’s main financial trading venue, the London Stock Exchange (LSE) has listed the ‘Commerzbank CCBI RQFII Money Market UCITS ETF’ a new money market ETF.
The new instrument gives investors access to the restricted China market. Investors have to hold certain classifications before they can invest in the second largest economy on the planet, with the new listing allowing UK and European investors direct access to the market place.
The listing was launched by key members of the UK and China business and government community, including; Dr. Hu Zhanghong, CEO, CCBI, Andrea Leadsom MP and Economic Secretary to the UK Treasury; Minister Counsellor Jin Xu, Embassy of the People’s Republic of China to the United Kingdom and Xavier Rolet, CEO of the London Stock Exchange Group.
Xavier Rolet, CEO of LSE commented about the launch in a statement, he said: “This is a landmark listing for London and an important sign of the market’s openness to new RMB product development. We are fully committed to supporting the efforts of the Chinese and the UK Governments in developing an off-shore RMB market in London through innovation and partnership.”
London RMB Volumes
Transaction in the Chinese Yuan have been growing sporadically as both speculators and hedgers increase their exposure to the asset class, coupled with China’s continued growth in the global market. The combined volumes in the on-and-offshore crosses, CNY & CNH helped China enter the top ten most liquid currencies internationally traded, as per the 2013 BIS triennial Survey.
London has been doing its utmost to hold onto its claim as the world’s financial capital, it has been cooperating with key authorities in China in order to stream-line and enhance the operating environment with a specific Chinese division in the City of London, a government organisation that promotes London internationally.
According to data issued by the City of London, in 2013, the value of trades in RMB executed in London grow, the report states: “Deliverable Forex business grew very rapidly in the first half of 2013 with overall deliverable volumes more than doubling in comparison to 2012 levels. FX options growth was especially strong rising from a relatively low level. Comments suggest that investors continue to gain confidence in the offshore market and the range of investor’s increases. Current estimates suggest that the market is split roughly equally between corporate investors, hedge funds and trade/capital flow-driven activity.”
With figures from the authority showing that Spot RMB forex grew to an average daily volume of US$4.8 billion, a 93% increase compared to 2012.
The LSE has been active with Chinese instruments, currently there are four RQFII ETFs listed on venue and since the first London listing in January 2014, RQFII ETFs have traded over $2.23 billion in value and accounted for over 7000 trades on London’s markets.
The latest product is a good sign for FX brokers that offer Chinese Yuan CFD contracts as investors with exposure in the ETF will have trading venues to hedge their open exposure with, thus boosting volumes in the cross.
UK-based retail and institutional investors will gain access to the growing Chinese market through a newly-listed financial instrument that is quoted in the county’s local currency. In a bid to strengthen its position as the dominant force in offshore Chinese markets, Britain’s main financial trading venue, the London Stock Exchange (LSE) has listed the ‘Commerzbank CCBI RQFII Money Market UCITS ETF’ a new money market ETF.
The new instrument gives investors access to the restricted China market. Investors have to hold certain classifications before they can invest in the second largest economy on the planet, with the new listing allowing UK and European investors direct access to the market place.
The listing was launched by key members of the UK and China business and government community, including; Dr. Hu Zhanghong, CEO, CCBI, Andrea Leadsom MP and Economic Secretary to the UK Treasury; Minister Counsellor Jin Xu, Embassy of the People’s Republic of China to the United Kingdom and Xavier Rolet, CEO of the London Stock Exchange Group.
Xavier Rolet, CEO of LSE commented about the launch in a statement, he said: “This is a landmark listing for London and an important sign of the market’s openness to new RMB product development. We are fully committed to supporting the efforts of the Chinese and the UK Governments in developing an off-shore RMB market in London through innovation and partnership.”
London RMB Volumes
Transaction in the Chinese Yuan have been growing sporadically as both speculators and hedgers increase their exposure to the asset class, coupled with China’s continued growth in the global market. The combined volumes in the on-and-offshore crosses, CNY & CNH helped China enter the top ten most liquid currencies internationally traded, as per the 2013 BIS triennial Survey.
London has been doing its utmost to hold onto its claim as the world’s financial capital, it has been cooperating with key authorities in China in order to stream-line and enhance the operating environment with a specific Chinese division in the City of London, a government organisation that promotes London internationally.
According to data issued by the City of London, in 2013, the value of trades in RMB executed in London grow, the report states: “Deliverable Forex business grew very rapidly in the first half of 2013 with overall deliverable volumes more than doubling in comparison to 2012 levels. FX options growth was especially strong rising from a relatively low level. Comments suggest that investors continue to gain confidence in the offshore market and the range of investor’s increases. Current estimates suggest that the market is split roughly equally between corporate investors, hedge funds and trade/capital flow-driven activity.”
With figures from the authority showing that Spot RMB forex grew to an average daily volume of US$4.8 billion, a 93% increase compared to 2012.
The LSE has been active with Chinese instruments, currently there are four RQFII ETFs listed on venue and since the first London listing in January 2014, RQFII ETFs have traded over $2.23 billion in value and accounted for over 7000 trades on London’s markets.
The latest product is a good sign for FX brokers that offer Chinese Yuan CFD contracts as investors with exposure in the ETF will have trading venues to hedge their open exposure with, thus boosting volumes in the cross.
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔