上交所与中国结算发布支持境外机构投资者开展债券回购业务相关事项

Core Viewpoint - The Shanghai Stock Exchange (SSE) announced measures to deepen the opening of its bond market to foreign institutional investors, allowing them to engage in bond repurchase transactions [1] Group 1: Bond Repurchase Business - Foreign institutional investors that meet the requirements of the announcement and SSE's bond trading regulations can conduct bond repurchase transactions [1] - The bond repurchase business includes pledged agreement repurchase and pledged tripartite repurchase, as well as acting as a reverse repurchase party in the Bond Connect general pledged repurchase business [1] Group 2: Compliance and Procedures - Foreign institutional investors must comply with laws, regulations, and SSE's business rules when engaging in bond repurchase transactions [2] - Direct participation in bond repurchase requires adherence to specific procedures regarding accounts, trading, registration, and settlement as outlined in SSE's guidelines [2] Group 3: Role of Domestic Securities Firms - Foreign institutional investors must entrust domestic securities firms with SSE membership to participate in bond repurchase transactions [2] - Prior to engaging in general pledged repurchase, foreign investors must sign a corresponding entrustment agreement with the securities firm [2] Group 4: Risk Management and Monitoring - Trading participants must manage the behavior of foreign institutional investors diligently and report any potential violations to SSE [3] - Settlement participants must enhance risk management related to bond repurchase transactions and report any risks to China Securities Depository and Clearing Corporation [3] Group 5: Implementation - The notification regarding these measures will take effect immediately upon publication [4]