Webinar 1: Investing China: CGB futures and the Bond Connect
Available on demand
Speakers:
Euromoney moderator
Paolo Danese is the editor at online publication GlobalRMB, part of the capital markets division of Euromoney Institutional Investor, covering market and regulatory developments linked to the internationalisation of the renminbi. He joined GlobalRMB in June 2014 from Asiamoney magazine, where he worked as senior reporter covering macro and treasury news.
Presented by
Becky Liu, Head of China Macro Strategy, Standard Chartered
Becky joined the Bank in November 2012 as a Senior Rates Strategist. She is based in Hong Kong. Her main coverage areas include China’s onshore and offshore fixed income markets and the Hong Kong rates market. She has been covering the offshore Renminbi market since its start, and has been deeply involved in Renminbi internationalisation-related issues. Prior to this role, Becky worked as an Asian credit strategist at HSBC covering Dim Sum and Asian US dollar bonds, as well as managing the HSBC bond indices. She holds a BSc from the University of New Brunswick and an MPhil in computer science from the City University of Hong Kong.
External speakers
Gaetan Gosset, director, heads Euroclear Bank’s product management in the Asia Pacific region. His responsibilities cover the services offered by the international central securities depository, including settlement and custody of fixed-income and equity securities, collateral management and investment fund processing. Based in Hong Kong, Mr Gosset forms part of the Euroclear Bank’s Asian management team. Furthermore, Mr Gosset represents Euroclear in various regional market working groups and committees and is a frequent speaker on subjects such as capital markets, collateral management, cross-border flows, tax and China. Mr Gosset has over 20 years of experience with Euroclear, half of which was spent in Asia. Before his current role, he managed the account management and client service teams covering all Euroclear Bank clients in the Asia Pacific region. Mr Gosset holds degrees in marketing and company management and in Information Technology from EPHEC (Brussels).
Julien Martin, Managing Director, Head of Fixed Income and Currency Product Development, HKEX
Mr Julien Martin joined HKEX in late August 2015 and serves as the Head of Fixed Income & Currency (FIC) Product Development. He is responsible for leading key initiatives in the fixed income and currency business, as well as platform and product solutions across the organisation. Prior to joining HKEX, Mr Martin was Head of the RMB Competence Centre, Managing Director & Deputy Head of Fixed Income China at BNP Paribas, and played a key role in its worldwide platform to address customers’ needs in China and rest of the world amid the RMB’s internationalisation. Mr Martin has over 17 years’ experience with BNP Paribas, and is an Asian financial market and fixed income expert. Mr Martin holds a masters of business administration degree from ESSEC Business School, Paris.
Agenda:
An overview of foreign access to China markets today
Hong Kong Exchange’s newly launched 5Y CGB futures
HK versus mainland CGB futures
Uptake of CGB futures in the first month of trading
Trading strategies and the likely next step
Bond connect
What has been announced
A comparison between various access channels: Bond connect, CIBM, RQFII/QFII
The next steps – southbound, cross-border collateralisation, tax treatments
Implications of global bond index inclusions
The likely impact of the bond connect launch
The amount of potential passive inflows
Impact on pricing
Q&A
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