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Commercial Banks and Insurance Companies Receives Regulatory Approval to Participate in the China Government Bond Futures Market
Commercial Banks and Insurance Companies Receives Regulatory Approval to Participate in the China Government Bond Futures Market
With the consent of the State Council, the China Securities Regulatory Commission (CSRC), the Ministry of Finance, the People's Bank of China, and the China Banking and Insurance Regulatory Commission issued a joint announcement, allowing commercial banks and insurance companies to participate in the China government bond (CGB) futures market of China Financial Futures Exchange (CFFEX) in a phased manner under the prerequisite of ensuring regulatory compliance, control of risks, and business sustainability.

Commercial banks and insurance companies are the major participants in the CGB cash market. Therefore giving such institutional investors access to the CGB futures market will help to fulfill their need to hedge interest rate risks, enhance the robustness of their business operations, and further improve their ability to serve the real economy. Furthermore, their participation will promote the coordinated development of the CGB cash and futures markets, diversify the investor structure of the CGB futures market, and facilitate the functioning of CGB futures. 

Next, in line with CSRC's requirements of "Four Awes" and "One Synergy", CFFEX will thoroughly implement regulatory authorities' plan regarding such participation in the CGB futures market, and revise Exchange rules, perform business procedures, construct technology systems and conduct investor education to support the process. By paying close attention to market performance and risk control, CFFEX will strive to ensure the stable operation of the CGB futures market.
   
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