Ceinex (China Europe International Exchange) is a Frankfurt-based exchange China and Germany formally agreed to establish to trade a number of renminbi-denominated products. It is set to open for business on November 18, 2015. The exchange will allow international investors to buy shares in exchange traded funds that hold renminbi-denominated Chinese assets. Until late 2015, controls imposed by China on the use of its currency abroad prevented foreign investors from buying such assets.
The agreement was signed on October 29, 2015 in Beijing by Gui Minjie, Chairman of Shanghai Stock Exchange, Carsten Kengeter, CEO of Deutsche Boerse AG, and Zhang Shenfeng, Chairman of China Financial Futures Exchange, in the presence of the Chinese Premier Li Keqiang and the German Chancellor Angela Merkel. The establishment of CEINEX is is the result of a financial market dialogue that began in March 2015.
Products and Services
Ceinex will start out offering cash market products like ETFs and bonds. All cash market instruments will be tradable via Xetra, Deutsche Boerse’s cash marketplace with approximately 200 participants. CEINEX is the first dedicated platform for authorised RMB-denominated trading outside mainland China.
- China and Germany strike deal to boost renminbi trading business. The Financial Times.
- Shanghai Stock Exchange, Deutsche Boerse and China Financial Futures Exchange jointly establish CEINEX. Eurex Group.