CITIC CSLA first Chinese broker to execute through BNY Mellon鈥檚 Stock Connect

CITIC CSLA has become the first Chinese broker to use BNY Mellon鈥檚 tri-party platform, Stock Connect.

The Stock Connect service allows China A-Shares to be used as collateral.

BNY Mellon was the first tri-party agent to provide collateral services for securities settled through Hong Kong Stock Connect which was launched six years ago, supporting growing cross-border trade volumes in and out of China.

Since then the solution, which is designed to reduce clients鈥� collateral costs, has enabled clients to post Stock Connect assets in non-title transfer pledge arrangements.

Magdalene Tay, Asia Pacific custody product manager for asset servicing at BNY Mellon, says: 鈥淪tock Connect enables enhanced optimisation of assets within [a client鈥檚] global collateral portfolios, helping institutions maximise their balance sheet.

鈥淐lients utilising tri-party collateral services reduce operational risks through the centralisation of post-trade collateral management functions.鈥�

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