To further promote the development of exchange-traded fund market and better serve market players, Shenzhen Stock Exchange (SZSE) today officially promulgated the Guidelines for Fund Products Development and Services Innovation (hereinafter “Products and Services Guidelines”) , based on opinions from fund managers and industrial experts.
As introduced by SZSE, the Products and Services Guidelines mainly contains the following contents:
- first, establishing standardized and transparent rules and procedures for products and services, and specifying required application materials involved in products development, and procedures and time schedule for product acceptance;
- second, encouraging market innovation by supporting and protecting fund managers who intend to develop innovative products, and assisting fund managers to perfect product schemes by providing services such as product and risk assessment, technological development, etc.;
- third, introducing competition mechanism to allow several fund managers to develop one single index product including SZSE indices, and promoting market development in competition.
The enforcement of the New Fund Law in 2013 and the promulgation of the Opinions on Promoting Industrial Innovation for Securities Investment Funds in June this year create a favorable external environment for the innovative development of publicly offered funds, especially exchange-traded funds. Taking the opportunity of the promulgation of the Products and Services Guidelines, SZSE will accelerate trading platform construction and matching institutional improvement for exchange-traded funds, fully respect the core role of market players in innovative development, and push forward the sustained, rapid and healthy development of exchange-traded fund market.
Adhering to the service concept of “Positive and Open, Quality and Efficient”, SZSE has established cooperation with 60 fund managers in recent years. A complete production line, including LOF, ETF, classified funds and closed-end funds and covering markets home and abroad, has taken its initial shape, which fulfills diversified demands on wealth management, and provides investors with an efficient, convenient and low-cost platform allocated with all classes of assets.
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