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What Are the Clearing and Settlement Procedures of the EFP on Chinese Government Bond Futures?
2019-09-10

The clearing and settlement of the EFP on Chinese government bond futures include registration and delivery in the physical leg and clearing in the futures leg. For the physical leg, the parties thereto complete the delivery versus payment at CSDC or CCDC according to the registration and delivery rules for the spot market; for the futures leg, the clearing is the same as that of centralized trading of Chinese government bond futures.