央视网消息：据央行网站消息，为加强银行间市场经纪业务监管，规范经纪机构和市场参与者相关行 为，提高市场交易的规范性和透明度，保护市场参与者合法权益，中国人民银行制定了《银行间市场经 纪业务管理办法》，现予以公布，自2026年1月1日起实施。 第四条 经纪机构进入银行间市场从事经纪业务，应当向中国人民银行报告，提供各项经纪业务规则、 内部风险管理制度等材料，并按照金融监管部门有关规定履行审批、备案等程序。 第五条 经纪机构应当具备健全的业务管理制度和内部控制制度，审慎开展相关业务，采取有效措施防 范风险。 非专门从事经纪业务的经纪机构，应当设立独立的经纪业务部门，具备专业的经纪业务人员和专门的经 纪渠道，经纪业务与自营业务应当严格隔离。 第六条 经纪机构发生减资、合并、分立、解散、托管、停业、申请破产、涉及重大诉讼、主要股东变 化及中国人民银行规定的其他重大事项前，应当向中国人民银行报告，并于事项发生后3个工作日内向 市场公告。 银行间市场经纪业务管理办法 第一章 总则 第一条 为规范提供经纪服务的金融机构（以下简称经纪机构）与金融机构投资者（以下简称委托方） 双方在银行间市场开展经纪业务，维护市场稳健运行，保 ...

智通财经APP获悉，为加强银行间市场经纪业务监管，规范经纪机构和市场参与者相关行为，保护市场 参与者合法权益，中国人民银行制定了《银行间市场经纪业务管理办法》，自2026年1月1日起实施。其 中提到，经纪机构发生减资、合并、分立、解散、托管、停业、申请破产、涉及重大诉讼、主要股东变 化及中国人民银行规定的其他重大事项前，应当向中国人民银行报告，并于事项发生后3个工作日内向 市场公告。 经纪机构应当建立健全通讯管理制度，加强对各类通讯工具的管理。经纪业务人员向客户提供询价、报 价等表述应当符合规范要求。交易时间经纪业务人员的移动电话、掌上电脑等移动通讯工具应当集中保 管。经纪机构固定电话应进行录音。符合条件的即时通讯工具应当实施监控并完整留痕。录音、通讯记 录等实现交易相关资料应当全程、完整留痕，并至少保存5年以上。 原文如下： 银行间市场经纪业务管理办法 第一条 为规范提供经纪服务的金融机构(以下简称经纪机构)与金融机构投资者(以下简称委托方)双方在 银行间市场开展经纪业务，维护市场稳健运行，保护市场参与者合法权益，根据《中华人民共和国中国 人民银行法》等有关法律法规，制定本办法。 第二条 本办法所称经纪业务 ...

人民财讯11月14日电，为加强银行间市场经纪业务监管，规范经纪机构和市场参与者相关行为，提高市 场交易的规范性和透明度，保护市场参与者合法权益，中国人民银行制定了《银行间市场经纪业务管理 办法》，现予以公布，自2026年1月1日起实施。 ...

（文章来源：第一财经） 为加强银行间市场经纪业务监管，规范经纪机构和市场参与者相关行为，提高市场交易的规范性和透明 度，保护市场参与者合法权益，中国人民银行制定了《银行间市场经纪业务管理办法》，现予以公布， 自2026年1月1日起实施。 ...

Core Viewpoint - The People's Bank of China has drafted and released the "Interbank Market Brokerage Business Management Measures (Draft for Comments)" to regulate brokerage activities in the interbank market, emphasizing the prohibition of certain activities by brokerage institutions [1][2]. Group 1: Regulatory Framework - The draft consists of 26 detailed provisions aimed at regulating brokerage institutions, including prohibiting them from participating in primary bond issuance and OTC bond business [1]. - The measures highlight the increasing influence of brokerage firms in the interbank market, with a total transaction volume of 433 trillion yuan in the past year, accounting for 20% of the overall market transactions [1]. Group 2: Brokerage Institution Requirements - Brokerage institutions are allowed to provide services for transactions in bonds, repos, and derivatives but must not engage in primary bond issuance or OTC bond activities [2]. - Institutions entering the interbank market must report to the central bank, and non-specialized brokerage firms must establish independent brokerage departments, ensuring strict separation from proprietary trading [2]. Group 3: Information Disclosure and Compliance - The draft mandates real-time, complete, and accurate disclosure of optimal brokerage quotes and transaction information, enhancing transparency in the matching process [2]. - It specifies that communication tools used by brokerage firms must be strictly separated from personal communication tools, with records retained for at least five years [2]. Group 4: Prohibited Activities - The draft outlines 13 prohibited activities for brokerage firms, including the ban on proprietary trading, providing services to unqualified clients, and using information advantages for improper gains [2]. Group 5: Supervision and Enforcement - The central bank and its branches are authorized to supervise and enforce compliance in the interbank market brokerage business, with penalties for violations including warnings, public criticism, or fines [3]. - Infrastructure institutions will conduct frontline monitoring, while self-regulatory organizations in the interbank market will manage self-discipline [3].

Core Viewpoint - The People's Bank of China has drafted and released the "Interbank Market Brokerage Business Management Measures (Draft for Comments)" to regulate brokerage activities in the interbank market, emphasizing the importance of brokerage firms in enhancing market efficiency and liquidity [1][2]. Group 1: Regulatory Framework - The draft consists of 26 detailed provisions that clarify the types and scope of brokerage institutions, including monetary brokerage companies and other financial institutions providing brokerage services [2][3]. - Brokerage institutions are prohibited from participating in primary bond issuance and over-the-counter bond business, ensuring a clear delineation of their roles [3]. Group 2: Operational Requirements - Brokerage institutions must report to the central bank before entering the interbank market and must establish independent brokerage departments to separate brokerage activities from proprietary trading [3]. - The draft mandates real-time, complete, and accurate disclosure of optimal brokerage quotes and transaction information, enhancing transparency in the transaction process [3]. Group 3: Compliance and Monitoring - The draft outlines 13 prohibited behaviors for brokerage firms, including holding positions in trades, providing services to unqualified clients, and using information advantages for improper gains [3]. - The central bank and its branches are authorized to conduct enforcement inspections on brokerage institutions, while self-regulatory organizations will monitor their activities [3].

Core Viewpoint - The People's Bank of China has drafted and released the "Interbank Market Brokerage Business Management Measures (Draft for Comments)" to regulate brokerage activities in the interbank market, consisting of 26 detailed provisions that prohibit brokerage institutions from participating in primary bond issuance and over-the-counter bond business [1][3]. Group 1: Overview of Brokerage Companies - Brokerage companies serve as intermediaries in financial market transactions, with their influence on interbank market trading increasing in recent years. In 2024, the trading volume through brokerage institutions in the interbank market is expected to reach 433 trillion yuan, accounting for 20% of the total market trading volume [2]. - The central bank's draft highlights that brokerage companies have become a hub connecting various market participants, significantly impacting secondary market information aggregation, pricing, trading efficiency, and market liquidity [2]. Group 2: Regulations and Requirements - The Measures comprehensively regulate brokerage business, including defining the types and scope of brokerage institutions, entry requirements, and risk isolation mandates. It also strengthens client qualification management, information disclosure, and communication tool usage [3][4]. - Brokerage institutions are required to provide services for transactions in interbank market bonds, repos, and derivatives but are prohibited from participating in primary bond issuance and over-the-counter bond business [5]. - Brokerage institutions must report to the central bank when entering the interbank market. Non-brokerage firms like securities companies must establish independent brokerage departments, ensuring strict separation from proprietary trading [6]. - The Measures mandate real-time, complete, and accurate public disclosure of optimal brokerage quotes and transaction information, enhancing transparency in the transaction process. Communication tools used by brokers must be strictly isolated from personal tools, with all communications recorded and retained for at least five years [6]. Group 3: Prohibited Activities and Oversight - The Measures outline 13 prohibited activities for brokerage personnel, including the strict prohibition of holding positions in trades, providing services to unqualified clients, exploiting information advantages for improper gains, and assisting clients in evading regulations [6]. - The central bank and its branches are authorized to conduct enforcement inspections on brokerage institutions, while relevant market infrastructure will monitor brokerage activities through specific systems. Self-regulatory organizations in the interbank market will manage brokerage institutions [7].