HSBC announces that it has successfully facilitated the first T+3 trade in the China Interbank Bond Market (CIBM), right after the official announcement to extend bond settlement cycle for overseas international investors.
This is an important step which was long hoped for by foreign investors. In additional to T+0, T+1 and T+2, overseas investors can now choose T+3 settlement cycle, applicable to cash bond trading, pledged repo, outright repo and bond borrowing and lending. It could further benefit them in saving of funding cost as well as CIBM primary market participation.