Findata asia
   
Shanghai Gold Exchange was formally Approved by the People's Bank of China as a Qualifying Central Counterparty
On January 20th 2020, the People's Bank of China (“PBC”) formally approved Shanghai Gold Exchange (“SGE”) as a Qualifying Central Counterparty (“QCCP”).
On January 20th 2020, the People's Bank of China (“PBC”) formally approved Shanghai Gold Exchange (“SGE”) as a Qualifying Central Counterparty (“QCCP”). This indicates that SGE, in line with the Principles for Financial Market Infrastructures (“PFMI”), further improved the market governance mechanism and strengthened its comprehensive risk prevention capabilities, and made a solid step towards promoting SGE’s internationalization strategy. 

PFMI is jointly issued by the Committee on Payment and Settlement Systems (“CPSS”) and the International Organization of Securities Commissions (“IOSCO”), which aims to improve central counterparties and other international regulatory standards for building financial infrastructures. A central counterparty that meets the relevant PFMI requirements and is recognized by the regulatory authority in its jurisdiction is a QCCP.

SGE being approved by PBC as a QCCP is an important measure to implement the requirements of "deepening the reform of the financial system" of the 19th CPC National Congress, which is of great significance for enhancing SGE’s global influence and promoting cross-regional market cooperation. In the future, SGE will fulfill its duties as a QCCP, adhere to the market-oriented and internationalization strategy, and build a world-class comprehensive exchange. SGE will also make new contributions to building Shanghai into an International Financial Center, promoting the internationalization of the RMB, and strengthening a highly adaptive, competitive and inclusive modern financial system.
   
您的位置: