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DTCC'S Omgeo CTM enables post-trade processing capabilities to private fund managers in China

First Published 9th May 2017

DTCC supports operational impacts of new rules in world's second largest stock market.

The Depository Trust & Clearing Corporation (DTCC), the post-trade market infrastructure for the financial services industry, has announced that Omgeo Central Trade Manager (Omgeo CTM), its strategic platform for the central matching of cross-border transactions and which is a part of DTCC's Institutional Trade Processing Product Suite, now enables Wholly Foreign-Owned Enterprises (WFOEs) in providing Private Fund Manager (PFM) services in China.

Last year, the Asset Management Association of China (AMAC) unveiled new rules allowing WFOEs to register as PFMs, thereby giving foreign institutional investors the opportunity to provide local PFM services through an established 100%-owned entity in China. The mandate creates opportunities for both foreign and domestic institutional investors that operate in the country, solidifying an important next step to providing new ways to access China - the world's second largest stock market.

"DTCC is proud to have supported and provided solutions to the global community and industry participants in China for the last decade," said George Jia, Country Manager for China, DTCC. "We will continue to partner with our global clients as new local reforms are implemented to assist foreign investors in their efforts to access the market. Omgeo CTM supports the WFOE policy by enabling global institutions to match A-shares with their Chinese counterparts."