A record filing system applies to market investors engaging in RMB forward rate agreement transactions. In accordance with the Administrative Provisions for Forward Rate Agreement Business, among investors approved by the competent regulatory authorities to engage in derivative product transactions, financial institutions qualified as market makers or settlement agents may engage in forward rate agreement transactions with all other market participants, other financial institutions may engage in forward rate agreement transactions with all financial institutions, and non-financial institutions may engage in forward rate agreement transactions only with financial institutions qualified as market makers or settlement agents for the purpose of hedging.
Financial institutions engaging in forward rate agreement transactions shall sign a Master Agreement for Financial Derivative Transactions in the China Interbank Market issued by the National Association of Financial Market Institutional Investors and submit their internal rules and details of their risk management system for interest rate swaps to the Association and CFETS for the record filing. The internal risk management system shall include, at a minimum, risk measurement and monitoring, internal authorization and credit, information monitoring management, risk reporting, and internal audit, etc.
Contact details for RMB Market Department of CFETS:
Tel: 021-68797878 ext. RMB Business Fax: 021-58957710