久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

US EUROPE AFRICA ASIA 中文
Business / Markets

Stock Connect set to buoy use of more financial instruments

By Emma Dai (China Daily) Updated: 2014-10-23 07:38

Apart from OTC derivatives targeting private banks, synthetic securities such as participatory notes and equity swaps will also find clients among global funds, said CLSA Ltd, a local securities house focusing on institutional business.

"P-notes are probably going to be the biggest derivative arrangement written from the sell side to the buy side on the back of Stock Connect," said Andrew Maynard, global head of trading and execution at CLSA.

Synthetic securities are combinations of securities that represent the properties of yet another security, which may not itself exist.

P-notes are synthetic structures that brokers write to allocate some of their quota to clients such as investment funds that are finding it difficult to acquire their own quotas. P-notes can also be used to bypass regulatory restrictions and avoid settlement problems.

Though Stock Connect will provide much easier access to Shanghai-listed stocks than the QFII and RQFII programs, P-notes are expected to be in demand, because global investors are wary of Chinese settlement rules and often unfamiliar with currency controls, said Maynard.

Northbound trading through Stock Connect is to be settled in offshore yuan, which are known as CNH in the currency markets.

"The problem is a lot of global custodians are not able to settle or hold securities denominated in CNH. It's not a convertible currency and there are only five offshore centers for it," he said.

"Equity investors are not familiar with the Chinese capital market, which is relatively new. The system has not been set up and due diligence has never been done properly. Besides, when you add the settlement scenario, pre-delivery requirements and different time zones, people would find Stock Connect too complicated."

Many investors are requesting P-notes, Maynard said. "I imagine swaps and P-notes would probably make up one-third of foreign activity going in (through Stock Connect). That's the same ratio of people using their own QFII quotas versus using our firm's QFII quota to invest in the mainland market right now.

Stock Connect set to buoy use of more financial instruments

Stock Connect set to buoy use of more financial instruments

Stock Connect delay worries investors  Hedge funds wait for green signal to ride 'through train' 

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    亚洲午夜私人影院| 1000精品久久久久久久久| 亚洲乱码日产精品bd| 日韩专区在线视频| 欧美日韩一区二区三区高清 | 狠狠色狠狠色综合| 91精品国产91久久久久久最新毛片 | 不卡欧美aaaaa| 欧美韩日一区二区三区四区| 国产资源精品在线观看| 欧美大黄免费观看| 久久久一区二区| 国内久久婷婷综合| 337p粉嫩大胆噜噜噜噜噜91av| 奇米色一区二区| 91精品国产高清一区二区三区蜜臀| 丝袜美腿亚洲一区二区图片| 欧美图区在线视频| 亚洲精品国产一区二区三区四区在线 | 国产日韩精品一区二区浪潮av| 国产一区日韩二区欧美三区| 精品国产乱码久久久久久久| 精品亚洲成a人| 久久伊99综合婷婷久久伊| 国产自产高清不卡| 欧美成人vps| 丝袜诱惑制服诱惑色一区在线观看| 欧美日韩免费一区二区三区 | 亚洲精品精品亚洲| 91网上在线视频| 久久―日本道色综合久久| 视频在线观看国产精品| 欧美一级二级三级蜜桃| 麻豆精品视频在线观看视频| 精品国产一区二区三区四区四 | 久久久不卡网国产精品二区 | 亚洲精品视频一区二区| 色天天综合色天天久久| 亚洲一区二区欧美日韩| 欧美日韩久久久一区| 秋霞av亚洲一区二区三| 精品久久久久久久一区二区蜜臀| 免费在线观看一区| 在线免费一区三区| 日韩黄色片在线观看| 亚洲精品在线电影| 成人激情免费视频| 亚洲日本欧美天堂| 欧美日韩亚洲不卡| 精品一区二区三区蜜桃| 欧美国产日韩精品免费观看| 狠狠色丁香久久婷婷综合丁香| 欧美亚一区二区| 青娱乐精品在线视频| 久久久国产精品午夜一区ai换脸| 不卡一区二区三区四区| 一区二区三区在线播| 在线不卡的av| 国产很黄免费观看久久| 亚洲男女毛片无遮挡| 在线一区二区视频| 久久国产婷婷国产香蕉| 国产精品久久久久久久久免费丝袜 | 日韩电影在线观看一区| 26uuu另类欧美| 国产综合色精品一区二区三区| 国产精品灌醉下药二区| 欧美日韩一区二区三区免费看| 国产又黄又大久久| 欧美精品一区二区精品网| 成人app下载| 爽好久久久欧美精品| 欧美精品一区二区久久久| 色欧美片视频在线观看在线视频| 日韩 欧美一区二区三区| 欧美激情一区在线观看| 欧美日韩日日骚| 国内成人精品2018免费看| 亚洲女子a中天字幕| 精品国产乱码久久久久久久| 91免费看视频| 亚洲精品大片www| 欧美精品在线视频| eeuss鲁片一区二区三区在线观看 eeuss鲁片一区二区三区在线看 | 538在线一区二区精品国产| 国产91精品在线观看| 天天综合网天天综合色| 国产精品久久久久永久免费观看| 成人免费va视频| 伊人婷婷欧美激情| 国产欧美一区二区精品性色| 欧美在线播放高清精品| 国产成人免费高清| 日本视频中文字幕一区二区三区| 国产精品久久久久久久午夜片| 7777女厕盗摄久久久| av中文字幕在线不卡| 久久99久久精品欧美| 中文字幕精品综合| 日韩视频免费直播| 91精品福利视频| 丁香天五香天堂综合| 免费亚洲电影在线| 亚洲男人天堂av网| 国产日韩欧美综合一区| 日韩精品最新网址| 色哟哟亚洲精品| 成人白浆超碰人人人人| 国产麻豆精品久久一二三| 亚洲高清免费视频| 亚洲美女在线国产| 欧美精品视频www在线观看| 69成人精品免费视频| 91视频在线观看免费| 久久99久久久久久久久久久| 亚洲午夜电影在线观看| ●精品国产综合乱码久久久久| 欧美精品一区在线观看| 欧美一区二区三区视频免费| 在线欧美一区二区| 99精品久久久久久| 美女任你摸久久| 亚洲免费观看在线观看| 国产精品久久99| 欧美激情中文不卡| 久久久亚洲欧洲日产国码αv| 1024亚洲合集| 久久久国产午夜精品| 精品国产一区二区三区av性色 | 国产精品色在线观看| 欧美精品一区二区三区蜜桃视频| 日韩一级黄色大片| 欧美日韩国产成人在线91| 91美女片黄在线观看91美女| 蜜桃久久av一区| 18涩涩午夜精品.www| 国产精品久久久久毛片软件| 国产欧美日韩在线观看| 国产色综合久久| 国产亚洲一区二区三区四区| 26uuu欧美日本| 久久一留热品黄| 欧美一区二区在线不卡| 欧美性猛交xxxx黑人交| 欧美色网站导航| 欧美日韩高清不卡| 色婷婷精品久久二区二区蜜臀av| 91在线视频网址| 国产精品99久久久久久似苏梦涵 | 日韩欧美一级片| 国产精品午夜久久| 五月天激情小说综合| 国产黄色成人av| 精品视频在线视频| 久久久久久免费网| 亚洲国产精品一区二区www | 日韩欧美在线123| 日本一区二区三区久久久久久久久不 | 欧美性一二三区| 精品久久久久久综合日本欧美| 日韩码欧中文字| 免费欧美日韩国产三级电影| 成人av在线一区二区| 欧美一区二区三区在线| 国产精品第五页| 蜜桃久久av一区| 色婷婷综合久久久| 精品国产成人系列| 一区二区三区鲁丝不卡| 国产制服丝袜一区| 欧美少妇xxx| 中文字幕av资源一区| 日本不卡中文字幕| 91视频www| 久久久久久久网| 午夜成人免费视频| av亚洲精华国产精华| 欧美tickling挠脚心丨vk| 亚洲另类在线视频| 国产精品资源网| 91精品国产综合久久福利| 亚洲男人的天堂在线aⅴ视频| 国产乱码一区二区三区| 欧美精品一二三区| 亚洲精品视频在线观看免费| 国产精品1024| 日韩丝袜情趣美女图片| 亚洲主播在线播放| 粉嫩一区二区三区在线看| 欧美一卡2卡3卡4卡| 一个色在线综合| 成人av免费在线播放| 欧美精品一区二区三区高清aⅴ| 午夜久久久影院| 色综合久久综合网欧美综合网| 久久综合九色综合97_久久久| 日韩精品国产精品| 欧美亚洲日本一区| 自拍视频在线观看一区二区| 国产91精品一区二区麻豆亚洲|