Cross-border Links with CSDs and ICSDs

The CMU has established a number of external links with regional CSDs and international CSDs to provide cross-border DvP settlement service to reduce settlement risk. These links also help provide investors a wider selection of instruments through the CMU platform and issuers access to various domestic and international markets.

Benefits

  • A centralised platform to manage your local and international debt securities
  • Access to our local, Mainland and international investor base
  • A wide spectrum of debt securities

Currently, the CMU is connected with the following CSDs/ICSDs and will continue to explore expanding access to new markets.

International CSDs

Through the CSD-CSD link and the nominee account structure, overseas investors can hold and settle debt securities lodged in CMU via ICSDs; while CMU participants can hold and settle international debt securities via their existing CMU accounts.

  • Clearstream
  • Euroclear

Eligible Securities

All international debt securities denominated in eligible settlement currencies (in general, all ISO currencies supported by ICSDs) and certain domestic debt securities acceptable to the Clearstream/Euroclear systems are eligible for settlement in the CMU system.

Beyond Settlement and Custody Services

In addition to holding and settlement service, CMU also relays information from ICSDs in respect of corporate events. General custody operations (e.g. certification) are also supported.

Regional CSDs

The linkages with the below regional CSDs help to facilitate cross-border holding and settlement of debt securities in mutual markets:

  • Austraclear
  • China Central Depository & Clearing Co., Ltd (CCDC)
  • Korea Securities Depository (KSD)
  • Shanghai Clearing House (SHCH)
  • Taiwan Depository & Clearing Corporation (TDCC)

Related Information

Related Websites

Last revision date : 25 Jul 2022