To all market participants,
To further optimize foreign currency repo trading and clearing services, and to meet market participants' needs for collateral management and diversified settlement methods, Shanghai Clearing House (hereinafter referred to as "SHCH") and China Foreign Exchange Trade System (hereinafter referred to as "CFETS") will launch optimized foreign currency repo services starting from June 22, 2026. To facilitate market participants in making relevant preparations, the relevant matters are hereby notified as follows:
I. Service Overview
(1)Collateral Bond Substitution under Pledged Repo
During the term of a foreign currency pledged repo transaction, both parties may submit a collateral bond substitution instruction for transactions via the client terminal of SHCH or the CFETS foreign exchange trading system. The substitution shall take effect upon confirmation by the counterparty.
(2) Cash Settlement under Outright Repo
Prior to the maturity settlement date, both parties may submit a cash settlement instruction via the client terminal of SHCH. SHCH will conduct the maturity settlement of the outright repo in accordance with the cash settlement instruction. CFETS will issue a separate notice regarding the specific launch arrangements for its system.
II. Participation Preparation
SHCH and CFETS will configure relevant permissions for the administrators of participants of this business. Administrators may, at their discretion, complete client-side permission configuration for operators within their respective institutions.
III. Contact Information
Business Enquiries:
SHCH:
Hou Zhe 021-23198840
Wang Shujing 021-23198578
CFETS:
Pang Keyu 021-63298988-3529
Jia Yu 021-23165015
This notice is hereby given.
Shanghai Clearing House
China Foreign Exchange Trade System
June 18, 2026
