GlobalRMB awards: Best bank for securities services

Securities services was one of the most competitive award categories GlobalRMB had to decide this year. Our awards criteria demanded the near-impossible from participating banks: to beat the competition in the fast-changing China access scheme, while at the same time demonstrating a broad client base and the ability to be at the cutting edge of innovation.

  • By Paolo Danese
  • 19 Sep 2018
Email a colleague
Request a PDF

With a new market access scheme introduced by Chinese regulators on a yearly basis for the past half a decade, and with the earliest of these schemes introduced as far back as 2003, it was a tough field to judge.

That was made doubly complex by the fact that, although there are some clear incumbents insofar as market share is concerned for individual schemes, securities services work on China access remains, and will remain for some time, heavily oriented towards advisory business. In short, bankers have to spend the vast majority of their time explaining the complexities of China access before those clients are onboarded and active.

Which leads us to this year’s winner, Standard Chartered. The bank may not have the largest market share in some of the traditional schemes but in what has clearly been the year of the Bond Connect — it has impressed for its effort to deliver on the potential of the landmark scheme.

With Bond Connect, the bank has made the most of its China expertise and has quickly pulled ahead. This was as true on launch day, when it had nine pilot clients lined up, as it is a year down the line, when Standard Chartered services more Bond Connect investors than any of its rivals.

The bank has put focus on features that really matter to clients, such as real time delivery versus payments, where Standard Chartered says it has double the rates of RDVP settlement than the market average.

What about Stock Connect? Here Standard Chartered has been a leader in providing innovative solutions to overcome the scheme’s teething problems around pre-funding and settlement, launching a panel broker model that already involves nearly 20 brokers. Standard Chartered also played a key role in preparing clients for the event of the year, namely the inclusion of A shares in MSCI emerging market indices in June. In the run up to the inclusion date, the bank serviced nearly a quarter of all transactions.

But market share has not been the sole determinant. What GlobalRMB believes to be even more praiseworthy are the bank's engagements efforts with investors and its work behind the scenes with regulators in China and Hong Kong.

In an RMB world that remains still largely Asia-centric, we believe Standard Chartered was the bank that, in the period under consideration, worked the hardest to deliver the most up-to-date solutions to those seeking China access in the region and beyond.

  • By Paolo Danese
  • 19 Sep 2018

Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 18.86
2 Industrial and Commercial Bank of China (ICBC) 14.39
3 China Merchants Bank Co 14.21
4 China Merchants Securities Co 8.85
5 Agricultural Bank of China (ABC) 5.90

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 China International Capital Corp Ltd 3.43 16 14.07%
2 China Securities Co Ltd 3.30 5 13.56%
3 Morgan Stanley 2.76 8 11.34%
4 CITIC Securities 1.95 6 8.01%
5 Citi 1.49 9 6.11%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 5.04 24 8.43%
2 HSBC 4.17 35 6.98%
3 UBS 3.58 19 5.99%
4 BofA Securities 3.53 11 5.91%
5 Credit Suisse 3.37 24 5.64%

Asian polls & awards

  • GlobalCapital China 2019 awards winners: Part III

    In the final part of GlobalCapital China’s awards announcement, we discuss the key innovation of 2019, and reveal the individual that has made the greatest contribution to reforming and internationalising the Chinese onshore market.

  • GlobalCapital China 2019 awards winners: Part II

    In the second part of GlobalCapital China’s awards announcement, we reveal the winning banks across Panda bonds, G3 bonds and ABS, as well as the best bank for securities services and the most impressive law firm.

  • GlobalCapital Asia capital markets awards 2019: Investment banks

    In the fourth and final instalment of GlobalCapital Asia’s capital markets awards announcements, find out which firms have been named the Best Asian Investment Bank and the Best Investment Bank in the region for 2019.

  • GlobalCapital China announces 2019 awards winners: Part I

    GlobalCapital China, previously GlobalRMB, is pleased to announce the winners of its annual capital markets awards, honouring the banks, companies and individuals that have made the biggest contribution to bridging the gap between China’s markets and the rest of the world. In part one of the awards, we reveal the most impressive issuers in the FIG, corporate and SSA categories.

  • GlobalCapital Asia capital markets awards 2019: Bonds

    In part three of GlobalCapital Asia's awards results announcements, we reveal the winning bond deals across a variety of categories. In addition, we also name the Best G3 Bond House, Best High Yield Bond House and the winner of the Best House for SRI Financing.