Recently,the number of participants in the RMB/FX transaction Central Counterparty (CCP) clearing service of the Shanghai Clearing House (SHCH) has exceeded 100. The participants cover a wide range of institutions including policy-oriented and development finance institutions, large state-owned commercial banks, joint-stock commercial banks, urban commercial banks, rural commercial banks, securities companies, and foreign-owned banks.
In the first half of 2026, the coverage of RMB/FX CCP clearing service kept expanding. The share of CCP clearing is more than 70%. There are 7 new participating institutions, among which 5 were foreign owned banks, while six institutions added new cleared products.
In recent years, guided by market demand, SHCH has consistently improved the efficiency of clearing services and steadily expanded the
scope of cleared products by launching multiple innovative value-added services for FX clearing. With unique strengths in conserving credit resources, increasing clearing efficiency, reducing capital occupation costs and strengthening risk management, the FX CCP clearing service provides solid support for the development of China’s interbank foreign exchange market.
Going forward, SHCH will continue to fulfill the responsibilities of financial infrastructure. SHCH will accelerate service innovation and refine the clearing service system to meet the diverse demands of market participants.SHCH actively implemented the expansion of FX CCP clearing currency pairs to cover Belt and Road currencies, namely Singapore dollar, New Zealand dollar, and Thai baht,in parallel with the research and development of Settlement Reduction Service. These endeavors will help improve the quality and efficiency of the interbank foreign exchange market, and contribute greater strength to the construction of Shanghai as an international financial center and the high-quality development of China’s foreign exchange market.
