Announcement on Promulgating the Detailed Operation Rules of the Shanghai Clearing House for Registration, Custody, Clearing and Settlement of Bond Connect Cooperation between the Mainland and Hong Kong (for Trial Implementation)

Announcement on Promulgating the Detailed Operation Rules of the Shanghai Clearing House for Registration, Custody, Clearing and Settlement of Bond Connect Cooperation between the Mainland and Hong Kong (for Trial Implementation)

June 23, 2017

In order to regulate the registration, custody, clearing and settlement of the Bond Connect and ensure that the business is conducted orderly, the Shanghai Clearing House has formulated the Detailed Operation Rules of the Shanghai Clearing House for Registration, Custody, Clearing and Settlement of Bond Connect Cooperation between the Mainland and Hong Kong (for Trial Implementation), which are hereby promulgated with the consent of the People's Bank of China (Yin Shi Chang [2017] No.20).

Detailed Operation Rules of the Shanghai Clearing House for Registration, Custody, Clearing and Settlement of Bond Connect Cooperation between the Mainland and Hong Kong (for Trial Implementation)

Article 1 In order to standardize the operation of registration, custody, clearing and settlement under the bond connect cooperation between Mainland and Hong Kong (hereinafter referred to as "Bond Connect"), the Detailed Operation Rules are formulated pursuant to the Joint Announcement of the People's Bank of China and the Hong Kong Monetary Authority, the Interim Administrative Measures on Bond Connect Cooperation of the Mainland and Hong Kong and Business Rules on Bond Registration, Custody, Clearing and Settlement (SHCH Announcement No. 13 [2014]) of Shanghai Clearing House.

Article 2 Bond Connect consists of the "Northbound Trading" and the "Southbound Trading". The Detailed Operation Rules apply to the registration, custody, clearing and settlement for "Northbound Trading".
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