Clearstream will flick the switch on a live link with Hong Kong's Central Moneymarkets Unit CMU this Monday giving account holders access to the securities held by the global clearing house. The likely result will be an increased local investor appetite for euro denominated bonds.
Speaking about the launch, the executive director of Clearstream in Asia, Philippe Metoudi, says the real-time link is part of the Hong Kong Monetary Authority's strategy to maintain its position as a regional financial centre. In the past, non-Clearstream account holders in Hong Kong could access our securities through the CMU but only via a global custodian. Now they can go direct.
The bilateral deal will...
