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
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 – transacted via Bond Connect Company Limited (BCCL) and CIBM Direct.
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 – transacted via Bond Connect Company Limited (BCCL) and CIBM Direct.
