ICBCFS | About Us
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About Us


Headquartered in New York City, the Industrial and Commercial Bank of China Financial Services (“ICBCFS”) is a wholly owned subsidiary of the Industrial and Commercial Bank of China Limited (“ICBC”).  We provide global clearing, execution and financing services in all major markets to a wide range of institutional clients, as well as, facilities management services.

ICBCFS maintains memberships in leading domestic exchanges and clearing organizations, including NYSE, NASDAQ, OCC, DTCC, FICC MBSCC, and possesses local market settlement capabilities throughout the world. We are also a member of SIPC. Products cleared by ICBCFS include:

  • U.S. Treasuries/Agencies
  • Mortgage Backed Securities
  • Corporates & Euro Bonds
  • Municipals
  • Sovereign Issues
  • US Equities
  • Convertibles
  • Warrants & Depository Receipts
  • Options
  • Global Equities
  • ETF’s

Competitive Financing & Outsourcing

ICBCFS also provides highly competitive financing and outsourcing solutions, including:

  • Margin Lending
  • Securities Lending
  • Repurchase/Reverse Repurchase Agreements
  • Equity Execution



Some of our clients include:

  • Broker-dealers
  • Hedge funds
  • Proprietary traders
  • Global banks

Our Management Team

The professionals at ICBCFS possess extensive industry experience. Many  of our professionals have worked together before at other leading firms. Several members of our team have been with ICBCFS and its predecessors, since 1991.

Industrial & Commercial Bank Of China Limited

ICBCFS is a wholly owned subsidiary of the Industrial and Commercial Bank of China Limited. ICBC was ranked the 1st place among the Top 1000 World Banks by The Banker, ranked 1st place in the Global 2000 listed by Forbes and topped the sub-list of commercial banks of the Global 500 in Fortune for the seventh consecutive year, and took the 1st place among the Top 500 Banking Brands of Brand Finance for the fourth consecutive year. As of end of 2019, ICBC offers a broad array of services to over 8 million corporate clients and approximately 650 million individual customers. ICBC maintains a Moody’s” A1” and S&P “A” credit rating. ICBC’s subsidiaries range from commercial and investment banks, in London, Luxembourg, New York, Toronto, Moscow, Dubai and Hong Kong to a fund management joint venture with Credit Suisse Asset Management in Beijing, etc.. ICBC operates in 48 countries with 428 branch offices, while maintaining a global network of 1,445 foreign correspondent banks in 143 countries. In 2011, ICBC became the first Chinese bank to receive permission from the U.S. Federal Reserve to acquire  a controlling stake in a U.S. bank, when ICBC acquired a controlling interest in the Bank of East Asia (U.S.A.) N. A. in July 2012 from The Bank of East Asia, Limited.


On November 8, 2023, U.S. Eastern Time (November 9, 2023, Beijing Time), ICBC Financial Services (FS) experienced a ransomware attack that resulted in disruption to certain FS systems. Immediately upon discovering the incident, ICBC FS disconnected and isolated impacted systems to contain the incident. ICBC FS has been conducting a thorough investigation and is progressing its recovery efforts with the support of its professional team of information security experts. ICBC FS has also reported this incident to law enforcement. We successfully cleared US Treasury trades executed Wednesday (11/08) and Repo financing trades done on Thursday (11/09).

ICBC FS's business and email systems operate independently of the Industrial and Commercial Bank of China Group. The systems of the ICBC Head Office and other domestic and overseas affiliated institutions were not affected by this incident, nor was the ICBC New York Branch.

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