When trading began in Frankfurt on Wednesday, securities denominated in the Chinese currency, the yuan, began changing hands there for the first time.
At 9 a.m. CET, the executive board members of China Europe International Exchange, or Ceinex, launched the new market place with a bell ringing on the trading floor of the Frankfurt Stock Exchange.
“Today’s start of market operation is a major milestone to establish the world’s first authorized renminbi [the official name for the yuan] market outside mainland China. We aim to steadily expand our product offering to further increase the attractiveness of Ceinex for international investors,” co-chief executive Han Chen said.
Deutsche Börse chief executive, Carsten Kengeter, Huang Hongyuan, the president of Shanghai Stock Exchange, and the Chinese ambassador to Germany, Shi Mingde, also attended the launch.