BEIJING, March 3 (Xinhua) -- China Financial Futures Exchange (CFFEX) will implement its rules for commercial banks to trade T-bond futures from March 9, reported Xinhua Finance, a financial news platform run by Xinhua News Agency.
The report quoting a circular released by CFFEX said qualifications for transaction and settlement membership will be granted to commercial banks upon approval of CFFEX by their meeting certain conditions and submitting relevant documents during the pilot period.
Previously in late February, Chinese regulators permitted qualified pilot commercial banks and insurers capable of investment management to take part in trading T-bond futures listed on CFFEX.
Based on repeated debate and market opinion collecting, CFFEX revised the past rules by optimizing T-bond futures position limits rules and standardizing membership management, in a bid to further satisfy market need.
CFFEX, established with the approval of the State Council and the China Securities Regulatory Commission, is an incorporated exchange providing trading and clearing services for financial futures, options and other derivatives in China. (Edited by Duan Jing, duanjing@xinhua.org)
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