CITIC CSLA first Chinese broker to execute through BNY Mellon鈥檚 Stock Connect
Latest news
CITIC CSLA first Chinese broker to execute through BNY Mellon鈥檚 Stock Connect 17 August 2021Beijing Reporter: Jenna Lomax
Image: Dilok
CITIC CSLA has become the first Chinese broker to use BNY Mellon鈥檚 tri-party platform, Stock Connect.
The Stock Connect service allows China A-Shares to be used as collateral.
BNY Mellon was the first tri-party agent to provide collateral services for securities settled through Hong Kong Stock Connect which was launched six years ago, supporting growing cross-border trade volumes in and out of China.
Since then the solution, which is designed to reduce clients鈥� collateral costs, has enabled clients to post Stock Connect assets in non-title transfer pledge arrangements.
Magdalene Tay, Asia Pacific custody product manager for asset servicing at BNY Mellon, says: 鈥淪tock Connect enables enhanced optimisation of assets within [a client鈥檚] global collateral portfolios, helping institutions maximise their balance sheet.
鈥淐lients utilising tri-party collateral services reduce operational risks through the centralisation of post-trade collateral management functions.鈥�
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one securities finance news source this
year, make sure it is your free subscription to Securities 麻豆影视传媒 Times
Image: Dilok 