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The Treasury Markets Association Launches the Renminbi Bond Indicative Quotes Today
13 Jul 2015  

The Treasury Markets Association Launches the Renminbi Bond Indicative Quotes Today



The Treasury Markets Association (TMA) launches the Renminbi (RMB) Bond Indicative Quotes (“indicative quotes”) today (13 July 2015) for the RMB-denominated institutional bonds issued in Hong Kong by the Ministry of Finance of the People’s Republic of China.  The indicative quotes replace the existing TMA RMB Debt Instrument Price Fixings (also referred to as TMA RMB Bond Price Fixings).


The introduction of the indicative quotes will increase the price transparency of the RMB bonds.


Thomson Reuters, the calculating agent appointed by the TMA, will collect from designated Thomson Reuters pages the indicative bid and offer prices from the participating banks, and calculate for each bank their mid-prices in individual bonds by taking the arithmetic average of the indicative bid and offer prices.  A total of 14 banks participate in this initiative (see Annex).


The indicative quotes will be published twice a day (around 11am and 4pm HKT) on every trading day via Thomson Reuters Eikon and datafeed solutions. The 11am-indicative quotes will also be published on the TMA website. Further information on the initiative can be found at



Treasury Markets Association (TMA)

The mission of the Treasury Markets Association (TMA) is to further promote the professionalism competitiveness of the treasury markets in Hong Kong through developing appropriate codes and standards, promoting market and product development, enhancing the professionalism of market practitioners and promoting the profile of Hong Kong as the preferred hub for treasury market businesses in the Asia Pacific region. TMA is formed by institutionalising the previous Treasury Markets Forum of Hong Kong and the merger with the ACI – The Financial Markets Association of Hong Kong. For more information, please visit:


Thomson Reuters

Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to




List of banks participating in the RMB Bond Indicative Quotes (as of 13 July 2015)


1.     Bank of China (Hong Kong) Limited

2.     Bank of East Asia, Limited (The)

3.     BNP Paribas

4.     China CITIC Bank International Limited

5.     China Construction Bank (Asia) Corporation Limited

6.     Citibank, N.A.

7.     Dah Sing Bank, Limited

8.     DBS Bank (Hong Kong) Limited

9.     Hang Seng Bank, Limited

10.  Hongkong and Shanghai Banking Corporation Limited (The)

11.  Industrial and Commercial Bank of China (Asia) Limited

12.  Nanyang Commercial Bank, Limited

13.  Standard Chartered Bank (Hong Kong) Limited

14.  Wing Lung Bank Limited