China's Two Securities Giants Advanced … Clearing Member List
After a comprehensive assessment by the Shanghai Clearing House, CITIC Securities and Guotai Junan Securities met the qualification requirements for the credit default swap (CDS for short) credit default swap (CDS for short) agency clearing business and were approved to provide agency clearing services for non-clearing members of the CDS centralized clearing business, becoming the first batch of brokerage firms in the CDS centralized clearing business. This is also the first time since 2018 that the business has been
This is also the first expansion of CDS centralized clearing business integrated clearing members since the launch of the business in 2018.
The so-called CDS centralized clearing business refers to Shanghai Clearing House's contractual substitution of CDS transactions concluded by market participants, inheriting the rights and obligations of both parties to the transactions, becoming the central counterparty, and calculating the cash inflow net amount of each clearing member in the same name day by multilateral net amount, ensuring contract performance and completing net settlement by establishing corresponding risk control mechanisms.
In recent years, Shanghai Clearing House has been committed to providing efficient and comprehensive credit derivatives clearing services to market participants and continues to enrich its product sequence. Since May 2017, Shanghai Clearing House has launched CDS bilateral netting service and CDS centralized clearing service, successively released high-grade CDS index and private enterprise CDS index, and provided CDS index netting service, continuously and steadily promoting the development and innovation of credit derivatives market.
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