Definition of Instrument
RMB interest rate swap transaction refers to a financial contract in which both trading parties agree on that within a certain period of time, the two parties exchange the interest calculated by pre-agreed notional principal and interest rate.
Bilateral trading and one-click trading
Interest rate swap can be dealt through the trading system of CFETS. For the concluded transaction not going through the trading system of CFETS, relevant financial institutions should deliver transaction records to CFETS for recognition before 12:00 a.m. of the next business day.
Reference rate for interest rate swap transaction should be a benchmark market rate for the national interbank bond market released by National Interbank Funding Center under the authorization of the PBC, or benchmark rates announced by the PBC.
Of the national interbank bond market participants (referred to as market participants), financial institutions having a market maker or clearing agency business qualification can conduct interest rate swap transaction with all other market participants, and other financial institutions can conduct interest rate swap transaction with all financial institutions, and non-financial institutions can only carry out hedge-purposed interest rate swap transaction with the financial institutions having a market maker or clearing agency business qualification.
Beijing time: 9:00-12:00 am, 1:30-5:00 pm, excluding Chinese statutory holidays.
- Guide on Registration of Overseas Investors for Northbound Trading in Bond Connect
- Interim Measures for the Administration of Mutual Bond Market Access between Mainland China and Hong Kong SAR
- User Operation Manual of the Agent Trading System (Version for Overseas Institutional Investors)
- Fee Schedule