Financial Times: Seven Margin Deposit Banks added in SHFE

Updated on: July 28, 2015

Date: July 28, 2015

Reported by Gao Guohua, Journalist from Financial Times

Recently, Shanghai Futures Exchange(SHFE) formally issued designated depository bank qualification certificate to seven joint-stock banks, namely, Shanghai Pudong Development Bank, Industrial bank, Everbright Bank, China Merchants Bank, CITIC Bank, Minsheng Bank, Ping’an Bank, and approved these banks are in the business of the futures margin depository of SHFE .

It is understood that this is the first expansion of the depository bank of the Shanghai Futures Exchange after issuing Management Measures for Depository Bank Designated by SHFE (hereinafter referred to as the Management Measures for Depository Bank).

The relevant person of SHFE expressed that, we hoped the newly-designated depository banks could take serving entity economic transformation development as its aim, give full play to their own advantages to provide quality comprehensive financial service to exchange members and futures market investors. At the same time, SHFE shall follow the principle of safety, steadiness in the next step, according to Shanghai Futures Exchange Settlement Rules, Depository Bank Management Method and other relevant provisions, further strengthen the comprehensive management of depository bank daily work from business and technical aspects.