Chinese firms to launch first global fixed income ETFs

The memorandum between the bank and the exchange, which was signed on Monday, approved 19 Barclays Capital global fixed income indices, allowing them to serve as the underlying for ETFs. The agreement opens the door for domestic Chinese asset managers to launch ETFs investing in foreign fixed income for the first time. Barclays Capital head of index, portfolio and risk solutions Waqas Samad says: "We're the first fixed income index provider that the exchange is adding to the pool. "The rationale for us putting the agreement in place with the exchange to have our indices approved is...