Circular of China Government Securities Depository Trust & Clearing Co. Ltd. on the Issuance of Detailed Rules on Clearing Operation Regarding Bond Outright Repo Transactions by China Government Securities Depository Trust & Clearing Co. Ltd.
Circular of China Government Securities Depository Trust & Clearing Co. Ltd. on the Issuance of Detailed Rules on Clearing Operation Regarding Bond Outright Repo Transactions by China Government Securities Depository Trust & Clearing Co. Ltd.
Circular of China Government Securities Depository Trust & Clearing Co. Ltd. on the Issuance of Detailed Rules on Clearing Operation Regarding Bond Outright Repo Transactions by China Government Securities Depository Trust & Clearing Co. Ltd.
Zhong Zhai Zi [2006] No. 167
October 25, 2006
To clearing members:
To standardize the bond outright repo transactions and safeguard the legitimate rights and interests of the participants of outright repo transaction, we have formulated the Detailed Rules on Clearing Operation Regarding Bond Outright Repo Transactions by China Government Securities Depository Trust & Clearing Co. Ltd. (see appendix), which is hereby promulgated and shall be implemented as of the date of promulgation. The original Tentative Detailed Rules on Clearing Operation Regarding Bond Outright Repo Transactions shall be abolished simultaneously.
Appendix: Detailed Rules on Clearing Operation Regarding Bond Outright Repo Transactions by China Government Securities Depository Trust & Clearing Co. Ltd.(hereinafter referred to as the Detailed Rules ).
Article 1 To standardize the clearing operation regarding bond outright repo transactions in the national inter-bank bond market, the Detailed Rules are formulated in accordance with the Measures for the Administration of Bond Outright Repo Business in the National Inter-Bank Bond Market promulgated by the People's Bank of China.
Article 2 When carrying out clearing of bond outright repo transactions, the clearing members of the national inter-bank bond market shall observe relevant regulations of the People's Bank of China, relevant business rules of the China Government Securities Depository Trust & Clearing Co. Ltd. (hereinafter referred to as the Central Clearing Company ), and the Detailed Rules provided herein.
Article 3 The Central Clearing Company shall handle the clearing business for bond outright repo transactions of the clearing members who have signed the Master Agreement on Bond Outright Repo.
Article 4 After reaching bond outright repo transactions, clearing members shall send clearing directions for bond outright repo business to the central bond booking system (hereinafter referred to as the Booking System).
......