China Europe International Exchange (CEINEX), the joint venture of Shanghai Stock Exchange (SSE), Deutsche Börse and China Financial Futures Exchange (CFFEX), has noticed with great interest yesterday’s decision by the International Monetary Fund (IMF) to include the Chinese renminbi in the special drawing rights (SDR) currency basket from October 1, 2016, onwards.
The RMB will be the fifth currency, along with the U.S. dollar, the euro, the Japanese yen and the British pound.
“The decision by IMF will certainly be beneficial for our long-term objective of providing liquid trading and clearing in RMB products and thereby supporting the internationalization of the Chinese currency. It will further support our efforts to establish the world’s first authorized Renminbi market outside mainland China,” said Han Chen, Co-CEO of CEINEX.
Currently, CEINEX offers ETFs based on mainland Chinese underlyings and a broad range of Renminbi-denominated (RMB) bonds. Since market launch on November 18, a total value of approximately 170 million RMB (single counted) has already been traded.
About China Europe International Exchange
CEINEX – China Europe International Exchange AG – offers investment products based on Chinese underlyings to international investors, starting with cash market products. CEINEX is the first and only dedicated platform for authorized RMB-denominated trading outside mainland China – offering attractive new trading opportunities to trade China in a most efficient manner, supporting RMB internationalization effectively.
It is a joint venture by Shanghai Stock Exchange, Deutsche Börse and China Financial Futures Exchange. The new market place was launched in November 2015.