The former COO of global client coverage at RBC I&TS joins Standard Chartered in Hong Kong to lead the Greater China securities services business.
The new office is China represents the latest in a series of regional expansions from the fund administrator.
The membership gives the bank the opportunity to work closer with CSD and CCP members on a number of key industry topics.
HSBC's global co-heads of securities services explain their focus on unlocking the potential of the group’s overall universal banking model for its clients.
Standard Chartered hopes the move will boost acceptance of Chinese debt as collateral for its foreign investor clients.
Research from Standard Chartered highlighted that China's FX requirements for custodians is one of the last obstacles for foreign investment to take off.
The two investment schemes are a major part of China’s strategy to open its capital markets to global investors.
The two institutions will also explore opportunities to provide cross-border collateral management services for RMB-denominated securities.
The first T+3 trade occurs on China Interbank Bond Market (CIBM) after ‘important step’ to extend settlement cycle.