中国结算，大动作！这些机构可提交申请

Core Viewpoint - The introduction of the "FISP Operation Management Measures" by China Securities Depository and Clearing Corporation aims to standardize the operation of the public fund industry’s institutional investor direct sales service platform, supporting the high-quality development of the public fund industry. The measures will take effect on September 5, 2025 [1]. Group 1 - The FISP platform allows securities firms, fund management companies, and other financial institutions to apply for participation, with the China Securities Regulatory Commission approving its official launch on September 5 [3]. - A transition period from September 5, 2025, to September 4, 2026, is established for existing participants to gradually reduce their business scale if they do not meet the new qualification requirements [4]. - The FISP platform is designed to provide electronic information flow and management services for public fund business participants, including fund managers and asset custodians [4]. Group 2 - The FISP platform categorizes participants into four main roles: fund managers, fund sales institutions, investment managers, and asset custodians, each with specific business permissions [5]. - Fund managers can apply for the fund manager role, while sales subsidiaries can only handle business related to their parent company's managed public funds through the FISP platform [5]. - Institutions wishing to invest in public funds using their own or entrusted assets can apply for the investment manager role, while qualified custodians can apply for the asset custodian role [5]. Group 3 - Participants must ensure that the information related to their created investment portfolios is legal, accurate, and updated as necessary [6]. - The FISP platform does not participate in fund sales and does not alter the legal relationships of participants in fund sales, nor does it bear responsibility for disputes arising from related business [6]. Group 4 - The measures were publicly solicited for opinions in March 2022, clarifying the platform's construction basis, service targets, role settings, and electronic information flow requirements [8]. - The China Securities Regulatory Commission's action plan released on May 7 emphasizes accelerating the launch of the institutional investor direct sales service platform to facilitate various institutional investors' participation in fund investments [8].