J.P. Morgan China Becomes a Bond Connect Market Maker

Jul 03, 2018

BEIJING — JPMorgan Chase Bank (China) Co., Ltd. (“J.P. Morgan China”) announced that it has been selected as an official Bond Connect market maker and has successfully completed the firm’s first deal today, on the one year anniversary of the launch of the Bond Connect program. As a Bond Connect market maker, J.P. Morgan China acts as one of the price providers to serve the Northbound Link leg of the connection between the mainland bond market and Hong Kong and the overseas investors.

Mark Leung, CEO of J.P. Morgan China said, “The Bond Connect program is a milestone for China’s financial market opening. J.P. Morgan China is pleased to become one of the Bond Connect market makers, which enables us to better support China’s efforts to attract more international investors to China’s Interbank Bond Market (CIBM). As China continues to open up its market, J.P. Morgan is committed to bringing the full force of the firm to support the rapidly growing needs of international clients coming to China, Chinese clients going global and the acceleration of the development of China’s financial markets.”

“J.P. Morgan has been actively supporting clients to participate in CIBM since the firm obtained the Debt Financing Instruments of Non-financial Enterprises Underwriting License and the Type-A Bond Settlement Agent license last year. With our global leadership and expertise in markets and investor services and a strong network across over100 markets, J.P. Morgan is well positioned to help promote the development of China’s bond market,” Mr. Leung added.

J.P. Morgan recently announced its application for establishing a new, fully-integrated securities company in which it would hold a 51% stake, increasing to 100% as allowed by regulations over the next few years as well as its desire and intent to increase its current joint venture stake in China International Fund Management Co Ltd to a majority interest, subject to agreement with its joint venture partner and the relevant authorities. Earlier this year, J.P. Morgan was also appointed by the People’s Bank of China as an RMB clearing house in the U.S., the first non-Chinese bank to be designated.

 

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