Bond Connect
How Bond Connect Links you to the China Bond Market
Tradeweb played a leading role in the design, development and implementation of Bond Connect, in partnership with China Foreign Exchange Trade System (CFETS), Central Moneymarkets Unit (CMU) and Bond Connect Company Limited (BCCL).
Bond Connect lets global investors leverage familiar trading and settlement practices by directly trading into the China Interbank Bond Market (CIBM) through their own trading account and own custodian bank.
What makes Bond Connect Efficient & Convenient?
- Simplified application process and setup with People’s Bank of China (PBoC) – on a fund level
- Disclosed request-for-quote (RFQ) protocol
- Pre- and post-trade block allocation functionality
- Proof of Best Execution due to electronic workflow and audit trail
- Error reduction due to OMS integration (pre- and post-trade)
- Automated CFETS trade registration
Your Connection to Transparent Electronic Trading & Price Discovery
- Offshore investors trade directly with eligible onshore dealers
- Indicative streaming prices from onshore dealers provides enhanced pre-trade transparency
- Single sign-on to iDeal, the official instant messaging system developed by CFETS, to offer enhanced communication
- List trading: create and execute lists of multiple CNY bonds quickly and efficiently
As we continue to drive the evolution of electronic trading across our core emerging markets regions – Asia Pacific (APAC), Central & Eastern Europe, Middle East & Africa (CEEMEA), and Latin America (LATAM) – we’re committed to developing and implementing new and enhanced technology to make trading global markets more efficient and transparent.
As offshore investor’s interest in China’s onshore bond market has grown over the past few years, so has their need for risk management tools. Tradeweb’s growing list of China Access Channels provide seamless and efficient electronic links between global market participants and China’s onshore community.
To find out how Tradeweb can support your China onshore bond trading strategy, get in touch here.
Product Details
- Liquidity Providers 59 providers through CFETS
- Products All eligible Chinese Interbank Bond Market (CIBM) instruments – including Chinese government bonds, local government bonds, policy bank bonds, certificates of deposit, commercial paper, corporate bonds, ABS
- Trade Lifecycle
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Pre-Trade At-Trade Post Trade Block Allocations
Indicative Streams
Pre-Trade Integration
Protocols
Request for Quote (RFQ)
List Trading
Trade-at-CloseAdvanced Trade Tools
Automated Intelligent Trading (AiEX)
Systematic Post-Trade Reporting to CFETS
Audit Trail/Compliance Records
Straight-Through-Processing (STP) to Client OMS
- Regulation Chinese Market Rules
- Trading Hours
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APAC Open 9:00 am - 12:00 pm China Standard time Open 1:30 pm - 8:00 pm China Standard time