China Securities Regulatory Commission (CSRC) has formally approved Shanghai Futures Exchange (SHFE) as the ‘Qualifying Central Counterparty’ (QCCP). This symbolizes that by means of benchmarking international standards, SHFE further enhances its governance，improve the management level, strengthen the ability of risk prevention and mitigation, and so as to lay the solid foundation for its future development.
A Qualifying Central Counterparty (QCCP) refers to a central counterparty that has established the regulated and complete central counterparty clearing mechanism according to Financial Market Infrastructure Principles (PFMI) and has passed the approval from appropriate regulatory authorities. Having recognized by CSRC as a QCCP is the first step that SHFE fulfills its QCCP duty comprehensively in both domestic and overseas futures and financial derivative markets. SHFE has been taking part in the international cooperation and competition according to the international standard.
In the future, SHFE will try every effort to continue to promote and improve the establishment of QCCP and make required regular information disclosure and other related work in accordance with the guidelines set forth by CPMI-IOSCO. SHFE will adhere to the‘market-oriented, rules by law, internationalized and professionalized’development path, align with national strategies, accelerate the internationalization of futures market, and strive to establish a first-class exchange in the world that has complete derivatives instruments, plays sufficient function and operates safely and efficiently.