Industrial Bank Became One of the First Group of Banks Obtaining the Qualification for Settlement of Option Funds
On January 20, Industrial Bank (IB) received the official reply from China Securities Depository and Clearing Corporation Limited, obtaining the qualification as a bank for settlement of option funds.
On February 9, Shanghai Stock Exchange (SSE) will introduce the business of stock option. Stock Options Trading refers to the trading activities which are conducted in an open and concentrated trading manner or other methods approved by the China Securities Regulatory Commission (CSRC) with the stock option agreements as the trading subject matter. As an innovative business vigorously promoted by SSE, the stock option trading is another major measure for innovation in reform in China’s capital market after “General Securities Account” and “Shanghai-Hong Kong Stock Connect”. Stock option will become the first issue of option product in the domestic exchange market.
As learnt by the reporter, IB is not only one of first group of main depository banks for customers’ transaction settlement funds, but also the bank for settlement of securities funds, verification of subscription funds, and settlement of securities funds in the national system of stock transfers among SMEs at the branches of China Securities Depository and Clearing Corporation Limited in Shanghai, Shenzhen and Beijing. The above business qualifications cannot do away with, on one hand, that the Bank has set foot in agency clearing of settlement funds from securities trading at the earliest time and accumulated rich experience in serving the securities market, and on the other than, that it boasts the strength in providing superior, secured and flexible settlement services for securities funds and high market reputation.
We can say that the qualification as a bank for settlement of option funds obtained this time reinforces its strength considerably and will further improve its comprehensive banking service capacity and influence in the securities market.TOP