Bond Connect
Your Link to the Chinese 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 enables global investors to 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.

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
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
Product Details
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Products All eligible CIBM instruments (including Chinese government bonds, local government bonds, policy bank bonds, certificates of deposit, commercial paper, corporate bonds, ABS)
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Pre-Trade At-Trade Post Trade Block Allocations
Indicative Streams
Pre-Trade Integration
Protocols
Request for Quote (RFQ)
List TradingAdvanced Trade Tools
Automated Intelligent Trading (AiEX)
Systematic Post-Trade Reporting to CFETS
Audit Trail/Compliance Records
STP to Client OMS
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Asia Open 9:00 am - 12:00 pm China Standard time Open 1:30 pm - 8:00 pm China Standard time