HSBC reports this morning that it has been appointed trustee and designated margin depository bank for the SSIF DCE Iron Ore Futures Exchange Traded Fund (ETF), the first Iron Ore Futures ETF in Hong Kong.

It is launched by Shanxi Securities International Asset Management Limited (SSIAM), a wholly owned subsidiary of Shanxi Securities International Financial Holdings Limited (SSIF), one of the first securities companies from mainland China that was set up as a wholly-owned subsidiary in Hong Kong.

The ETF is a milestone for the Chinese futures market, allowing foreign investors to trade in Dalian Commodities Exchange (DCE) Iron Ore Futures Contracts in USD margin for the first time. Settlement accounts in both RMB and USD facilitate effective trading, with HSBC China the designated margin depository bank. HSBC says this allows SSIAM, as manager, to transfer funds into onshore brokers' margin accounts through an online remittance system.

As the first and only foreign designated depository bank approved by the DCE, HSBC helps overseas investors access China's commodity futures markets.

Says Patrick Wong, Head of China Business Development and Client Management, HSBC Securities Services: "Gaining straightforward exposure to key commodity benchmarks is particularly important during volatile times, so we are delighted to support SSIAM with this ETF, through our comprehensive, one-stop cross-border services.

"We have seen increasing overseas demand for DCE market access and this innovative launch marks greater connectivity between Hong Kong and mainland Chinese exchanges."

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HSBC reports this morning that it has been appointed trustee and designated margin depository bank for the SSIF DCE Iron Ore Futures Exchange Traded Fund (ETF), the first Iron Ore Futures ETF in Hong Kong.

It is launched by Shanxi Securities International Asset Management Limited (SSIAM), a wholly owned subsidiary of Shanxi Securities International Financial Holdings Limited (SSIF), one of the first securities companies from mainland China that was set up as a wholly-owned subsidiary in Hong Kong.

The ETF is a milestone for the Chinese futures market, allowing foreign investors to trade in Dalian Commodities Exchange (DCE) Iron Ore Futures Contracts in USD margin for the first time. Settlement accounts in both RMB and USD facilitate effective trading, with HSBC China the designated margin depository bank. HSBC says this allows SSIAM, as manager, to transfer funds into onshore brokers' margin accounts through an online remittance system.

As the first and only foreign designated depository bank approved by the DCE, HSBC helps overseas investors access China's commodity futures markets.

Says Patrick Wong, Head of China Business Development and Client Management, HSBC Securities Services: "Gaining straightforward exposure to key commodity benchmarks is particularly important during volatile times, so we are delighted to support SSIAM with this ETF, through our comprehensive, one-stop cross-border services.

"We have seen increasing overseas demand for DCE market access and this innovative launch marks greater connectivity between Hong Kong and mainland Chinese exchanges."