After Swap Connect, industry eyes onshore China repo market
Similar netting and infrastructure upgrades wanted to help foreign investors fund CNY bond holdings
With China’s Swap Connect now live, market participants are pushing for regulators to take the next step and extend similar infrastructure and close-out netting to onshore repurchase agreements, giving foreign investors a way to finance their renminbi bond holdings.
Philippe Dirckx, head of fixed income at the Asia Securities Industry and Financial Markets Association, said the group is in discussions with China’s financial regulators to develop legislation akin to the recent Futures and
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