Definition of Instrument

Securities lending refers to a financing business where borrower borrows bonds from a lender by using a certain number of other bonds as a pledge, and at the same time they agree upon that at a future date the borrowed bonds shall be returned and the lender shall return corresponding pledged bonds. CFETS provides quotations, transaction, recording and information services for security lending transaction.

Trading Mechanism

Bilateral trading

Terms

The term of security lending is determined by both parties through consultation, but the term shall not exceed 365 days. CFETS classifies security lending instruments into a total of 11 terms of 1-day, 7-day, 14-day, 21-day, 1-month, 2-month, 3-month, 4-month, 6-month, 9-month and 1-year. 

Trading Hours

T+0: Beijing time 9:00-12:00 am, 1:30-4:50 pm, 

T+1: Beijing time 9:00-12:00 am, 1:30-5:00 pm, 

excluding Chinese statutory holidays.