Treasury Bond Futures Market Successfully Completed the first DVP settlement

On June 6, 2017, thanks to the preparation and joint efforts of the CFFEX and the CCDC, the Treasury bond futures market successfully completed the first Delivery versus Payment (DVP) settlement, reflecting a major progress on the construction of settlement mechanism in Treasury futures market and the inter-connection of spot and futures markets. This first settlement involved a total delivery of TF1706 contract of 19 round lots, with the amount of delivery 19,444,905.14 yuan.


On January 4, 2017, as part of the efforts in the official introduction of DVP into the Treasury bond futures market, the CFFEX and the CCDC signed a DVP agreement and jointly issued a series of business rules. According to these rules, based on the delivery matching results of CFFEX, the CCDC will facilitate the eligible buyers and sellers to conduct a simultaneous delivery of bonds and funds on the designated settlement date. The introduction of DVP settlement in the Treasury bond futures market can effectively reduce the delivery risk, significantly improve the efficiency of the use of bonds and funds, and further deepen the relevant service to promote the effective functioning of the Treasury bond futures market.


The CFFEX and the CCDC are both core platforms that support the interconnection of Treasury bond spot and futures markets. In their cooperation on implementation of the Treasury bond futures DVP settlement, CCDC and CFFEX successfully conducted a fully electronic system docking for the first time, which is of great importance to the efficient processing and transmission of data, the market inter-connection, and the financial market infrastructure construction.

    Publish on :06/07/2017 09:46
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