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Deutsche Börse to help Chinese clearing house

23 February 2010

Deutsche Börse has signed a cooperation agreement with the People’s Bank of China to help set up a new interbank clearing house for over-the-counter derivatives.

Read more: Deutsche Börse clearing China PBC

The clearing house has been set up by four Chinese central bank entities – the China Foreign Exchange Trading System, China Government Securities Depository Trust & Clearing Co, China Banknote Printing and Minting Co and China Gold Coin Co, the nationwide bullion wholesaler – to assist the People’s Bank as it aims to centralise clearing and settlement services and restore international trust to its OTC derivatives market.

The four backers have put in Rmb300m ($44m) of capital. 


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