首笔以国债作为保证金的QFI商品期货交易完成

Core Insights - HSBC China has successfully assisted an overseas asset management institution in completing the first QFI commodity futures transaction using government bonds as margin in the domestic market [1] - UBS Futures has also announced its support for the first commodity futures transaction using government bonds as margin, becoming the first futures company to facilitate this for overseas investors [1] Group 1 - HSBC China provided comprehensive services including account management, collateral business application, government bond deposit, and settlement for the overseas institution [1] - The transaction enhances the efficiency of the institution's bond holdings by utilizing government bonds in domestic commodity futures trading [1] - The collaboration involved close cooperation with the Central Government Securities Depository and Clearing Co., relevant commodity futures exchanges, and futures companies [1] Group 2 - HSBC China's Vice President highlighted that using government bonds as margin for commodity futures is a new practice of "interconnectivity" between the bond market and futures market, providing a replicable path for more overseas investors [2] - This development offers a more efficient capital utilization channel for overseas investors and enriches the usage scenarios of government bonds through cross-market collaboration [2] - UBS Futures' Chairman stated that the successful implementation of this first business marks the formal opening of government bonds as margin for overseas investors, reflecting the increasing diversity and openness of the Chinese market [2]