removing margin utilisation and conversion rate that matches the requirement

In line with the margin business from pilot to general business, in Shenzhen and Shanghai Stock Exchange yesterday formally published and implemented the margin trade regulations of the Shenzhen Stock Exchange and the Shanghai Stock Exchange margin transaction regulations, at the same time, released in 2006 these two pilot rules for the implementation of the repeal. The Shanghai Stock Exchange,New article added 2 articles of the implementing rules, amendments 13, mainly related to the underlying securities, priority payment, security deposit ratios and conversion rates, maintenance of security, credit-backed securities account to open an account that is specified, mainly reflected in the seven main areas. First, the perfection of the detailed rules for the implementation of the new selection of stock liquidity and margin targets. The introduction of the "average daily turnover" means theStop, and appropriately lower the "average daily exchange rate" requirements using "does not appear in the last three months average daily exchange rate is lower than the benchmark average daily exchange rate of 15% and the daily average turnover is less than $ 50 million" as the subject of stock liquidity indicators have been basically eliminated restrictions on good mobility of the blue-chip benchmark. Second, the ETF include margin underlying securitiesThe scope and on the risk control measures to make institutional arrangements. ����Include limiting customer credit to ETF Securities account purchase, redemption, at the reference scale of stock short selling and margin control mechanism, the establishment of a scale of ETF and margin control indicators. Thirdly, the amendment will be advantageous for the customer in the credit-backed securities in a securities account transfer warehouse operations. Clearly investorsSell buy outstanding credit financing in the securities account contract of securities, you should repay the investor financing the arrears. ����The four, removing margin utilisation and conversion rate that matches the requirement, modified by the members according to their risk controls requires the implementation of the programme. The five, the amendments strictly limit the scope to be exported can be used to deposit securities, is implementing special DepartmentReason and were suspended from trading, or a result of interest has not been to the account of handling stock in transit, and other special situations, members are under appointment with the customer in accordance with the fair price or other market value pricing method accounted securities, calculated to maintain security, gives members flexibility in customer collateral risk management. The six, the Shanghai Stock Exchange and the Shanghai Branch of Chinese settlement on the credit of securities accountFixed transaction changes, determine credit securities account at the time of account opening by the specified delegate for specifying the registration and settlement organizations accepting transactions in Shanghai Stock Exchange. The seven, this amendment clearly both individual business operation details, including the refinement of financing, margin for the period, specifically financing, margin for the period from the date of actual use of funds or securities calculation; supplementary stressWhen the customer has not expressed the view, the Member shall not exercise the right rules for issuers, to prevent the risk of "buy tickets" question; clear a Market order is not applicable margin selling transactions, to prevent the use of Market order to avoid margin selling price limit; clear suspended by for special treatment, listed a-shares and warrants of the discount rate to 0. Shenzhen Stock Exchange, it isUnderlying securities for stock, to modify its liquidity requirements, specific requirements and the same in Shanghai Stock Exchange, asking "does not appear in the last three months average daily exchange rate is lower than the benchmark average daily exchange rate of 15% and the daily average turnover is less than $ 50 million". New subject of ETF Securities, also identified specific conditions, including trading for more than three monthsAlmost three months of daily average size not less than $ 2 billion of capital; held not less than 4,000 households. In terms of margin and collateral star wars the old republic power leveling, new regulations on securities that can be used to deposit in calculating the margin amount should be based on market value of securities or net according to a certain conversion conversion rate, added "is the purpose of special handling and suspension of conversion of shares of listed sharesRate of 0 "and" e discount rate of 0. " ����In addition swtor power leveling, information disclosure and reporting sections, originally "members shall, within 10 business days after the end of the month reported in this month's margin trading business" was changed to "reported within 7 days after the end of the month by month and margin business". Shenzhen and Shanghai Stock Exchange yesterdayAlso publishes notice of adjusting the margin range of underlying securities, adjusted margin underlying securities will be implemented on December 5.