Aside from helping offshore investors to manage interest rate risk, the scheme will improve efficiency of clearing and capital usage, said Bank of China (HK).
Signage of the Hong Kong stock exchange in Hong Kong. HKEX has added a new scheme that will connect capital markets in Hong Kong and mainland. added a new Connect scheme linking markets in the financial hub with the mainland on Monday, by expanding into onshore interest rate derivatives to help offshore investors in Chinese bonds hedge their exposure.
The interest rate Swap Connect scheme would further promote the yuan currency's global status, HKEX CEO Nicolas Aguzin said. Aside from helping offshore investors to manage interest rate risk and lower financing costs, the new scheme would improve efficiency of clearing and capital usage, said Haifeng Xu, deputy chief executive at
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