Central securities depositories want China to ease FX rules
Clearstream and Euroclear have signed agreements with the new Shanghai Clearing House, but fully efficient links to securities depositories in China are still some way off.
The new Shanghai Clearing House is working with European central securities depositories Clearstream and Euroclear to bring best practices to China's foreign exchange and over-the-counter (OTC) bond markets.
Launched on November 28, the clearing house has signed memorandums of understanding with both central securities depositories (CSDs) to help it become the central counterparty in China for currency and OTC transaction clearing and netting. But there is some way to go before they…
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