OMHEX and the Chinese CSD China Securities Depository and Clearing Corporation Limited have signed a Memorandum of Understanding (MoU)
The MoU identifies areas of mutual co-operation, including the exchange of information to assist in the further development of the markets operated by the CSD. The MoU will also see the two organisations assess the potential for further co-operation in the areas of business infrastructure, technical infrastructure and business operations.
“This is an important milestone for OMHEX as we continue to increase our focus on the Chinese market,” says Magnus Bcker, CEO and President, OMHEX. “The MOU will serve as an excellent learning platform for both organisations, and we very much hope that it leads to a more formal business partnership between us and SD&C in the future.”
“The MOU will further facilitate the information and personnel exchanges between SD&C and OMHEX, and lay a good foundation for our further cooperation” adds Chen Yaoxian, Chairman of SD&C.
OMHEX, which owns and operates the largest securities market in Scandinavia, also owns OM Technology (a provider of software and outsourcing services). In Asia, OMHEX currently has offices in Hong Kong, Sydney and Shanghai, and its customers include Hong Kong Exchanges, Sydney Futures Exchange, Australian Stock Exchange, Korea Futures Exchange, Korea Power Exchange and Singapore Exchange.
China Securities Depository and Clearing Corporation Limited SD&C was established in March 2001, setting up its Shanghai and Shenzhen branches in September of the same year. Currently, it is China’s sole national securities depository, clearing and registration company, providing services for Shanghai Stock Exchange and Shenzhen Stock Exchange. The value of transactions settled in 2003 was more than RMB43.74 trillion, while more than RMb1.10 trillion of client stock assets at par value are held in the depository.