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S TP in Inter-bank bond market , China

S TP in Inter-bank bond market , China. China Government Securities Depository Trust & Clearing CO.,LTD June,2008 Indonesia. Contents. 1. Introduction 2. STP in China 3. Development Objectives. 1.Introduction. 1.1 The Business Scope of CDC

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S TP in Inter-bank bond market , China

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  1. STP in Inter-bank bond market , China China Government Securities Depository Trust & Clearing CO.,LTD June,2008 Indonesia

  2. Contents 1. Introduction 2. STP in China 3. Development Objectives

  3. 1.Introduction 1.1 The Business Scope of CDC 1.2 The Inter-bank bond market of China consists “Trading System” of “China Foreign Exchange Trade System (CFETS)” and “Central Bond Book-entry System (CBBS)” of CDC.

  4. 1.1The Business Scope of CDC

  5. 1.2 CFETS and CBBS

  6. 2.STP in China 2.1 In order to minimize settlement risk, the settlement and clearing to occur simultaneously, the straight-through processing of data processing (Straight Through Processing, STP) has been widely used in the financial markets. 2.2 From 2004, PBOC start to cooperate between “trading system” and “booking system”. 2.3 Oct 8, 2005, an union network has been implemented in Inter-bank bond market.

  7. Flow Chart

  8. The advantage of STP in Chinese Inter-bank bond market —— The efficiency of clearing has been dynamically improved . —— lower cost —— higher operational speed —— The “end to end” transaction, it will minimize the entire trading risk and prevent technique and human-been mistakes.

  9. Market Overview

  10. 3.Development Objectives 3.1 Strengthen laws and regulations 3.2 An union platform will be created between trading system and booking system without human been activities in middle ware. Eg. Currently, all client need to recheck on booking system. 3.3 Some standard and global rules will be published for trading data. 3.4 An universal system will be gradually established in Inter-bank bond market.

  11. Thanks!

  12. Contact us: Zhang WEI jessica19810311@163.com 8610 88086310 Fu Ying fy@chinabond.com.cn 8610 8807975

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