The new trading desk will serve European clients who are increasingly looking to invest in Chinese and Asian Fixed Income Products. The launch of the trading desk further highlights the city’s prominence as an off-shore RMB hub.
The inauguration of this Fixed Income UK trading desk once again reflects the unrivalled combined synergy of CITIC Securities International and CLSA. Initially, the Desk will service clients looking to trade in the European time zone.
Ke Yin, Vice Chairman of CITIC Securities and CEO of CITIC Securities International remarks: “CITIC Securities International is by far the first Chinese securities house to bring our specialised knowledge of Chinese credits in CNH and USD to Europe. We are taking the leading expertise of CITIC Securities in China internationally. We are delighted to welcome global clients with an appetite for Asian products concentrating in Chinese credits which will now be available as part of our full service coverage”.
Jonathan Slone, Chairman and CEO of CLSA and Co-CEO of CITIC Securities International adds: “Over the past 30 years, CLSA has built extensive client coverage in the UK and Europe. Now alongside CITIC Securities International we can extend our product offerings from equities to bonds.”
On the product front, the Desk will focus on the market making of cash bonds especially Dim Sum Bonds, USD Asia Corporate Bond and Financial Paper, Asia Sovereign and Quasi-Sovereign.
John Sun, Managing Director and Head of Fixed Income Currencies and Commodities at CITIC Securities International emphasises: “CITIC Securities is ranked #1 amongst all Chinese securities houses onshore and off shore in Fixed Income Business*. CITIC Securities International established its FICC Business in 2008 and for the past three years, the team has consistently been ranked one of the top players amongst commercial banks and securities houses in the CNH Investment Grade and High Yield Bonds trading segment. Additionally, the product offering will soon be extended into G7 currency corporate and quasi-sovereign bonds in the EMEA markets.”