CMU OmniClear launches equity asset servicing under SIX link
CMU OmniClear has launched asset servicing for equities under the CMU-SIX linkage, with Bank of China (Hong Kong) as the first member. The service allows CMU members to invest in Swiss and Spanish securities, boosting cross-border investment and Hong Kong's role as a gateway.
Hong Kong's CMU OmniClear has officially launched asset servicing for equities under the linkage between the Central Moneymarkets Unit (CMU) and Switzerland's SIX, with Bank of China (Hong Kong) (2388) becoming the first CMU member to participate.
The move follows the activation in July of the direct link between CMU, operated by CMU OmniClear, and SIX, Switzerland's national central securities depository. This is a major step in CMU's transformation into a one-stop, multi-asset class post-trade securities infrastructure, according to a statement.
Under the linkage, CMU members can invest in, settle and hold Swiss and Spanish securities through CMU's nominee account with SIX.
Stanley Chan, chief executive of CMU OmniClear, said the launch is a significant step towards facilitating cross-border investments and strengthening financial cooperation between Hong Kong and European markets. It also demonstrates the capability to support Chinese investors' outbound investment into markets beyond Hong Kong and Asia, meeting their growing demand for global asset allocation, he added.
Wang Huabin, deputy chief executive of BOCHK, said the bank is pleased to become the first in Hong Kong to participate in CMU's direct linkage with SIX and its one-stop asset servicing platform. As demand from Chinese Mainland investors for global asset allocation continues to grow, this initiative further reinforces Hong Kong's strategic position as both a 'super connector' and 'super value-adder', serving as a gateway between the Chinese Mainland and international markets, he added.