On the 26th, DCE officially announced that it has designated Shanghai Pudong Development Bank and Industrial Bank as the futures margin depository banks. So far, DCE has designated 7 futures margin depository banks.
According to DCE regulations, the designation of the depository banks includes the two stages of qualification approval and opening preparation. DCE completed the first stage of qualification approval in late September, approving the stage of opening preparation for 6 banks including Shanghai Pudong Development Bank. At the stage of opening preparation, the banks should complete 3 tasks, including the preparation and building of outlets, the preparation of the systems and the formulation of the program on the futures innovation and service.
According to DCE regulations, the designation of the depository banks includes the two stages of qualification approval and opening preparation. DCE completed the first stage of qualification approval in late September, approving the stage of opening preparation for 6 banks including Shanghai Pudong Development Bank. At the stage of opening preparation, the banks should complete 3 tasks, including the preparation and building of outlets, the preparation of the systems and the formulation of the program on the futures innovation and service.
Recently, Shanghai Pudong Development Bank and Industrial Bank submitted the documents related to the opening preparations for the depository business to DCE. After examination, the two banks, according to the requirements of DCE, have developed and got online the electronic transfer system, the data reporting system of the futures margin monitoring center, the nationwide centralized bank-futures company transfer system and other technology systems, and have completed the network tests with DCE, the margin monitoring center and the futures companies, boasting all the technological conditions for futures funds transfer and the safe deposit of the margins. According to the requirements, the two banks have completed opening the special line, system monitoring, the daily backup of electronic data and the emergency response, etc., which have met the relevant requirements of DCE. DCE yesterday officially announced that it has approved Shanghai Pudong Development Bank and Industrial Bank as DCE’s designated futures margin depository banks.
It is understood that both the banks have set up and opened branches at Dalian Futures Building. The two banks have specified the post responsibilities and in accordance with DCE’s requirements, have made relevant provisions on opening accounts, funds transfer, checking and reporting, account checking, the management of the fund position and other issues.
