CSDCC issued the detailed rules for the implementation of interconnected depositary receipt registration and settlement business of China Securities Depository and Clearing Co., Ltd. at domestic and foreign stock exchanges (Draft for public comments). There are 16 articles in total after the revision of the detailed rules, mainly including liberalizing the restrictions on the number of securities accounts of GDR depositors and overseas cross-border conversion institutions. From the perspective of meeting market demand, this amendment deletes the restrictions in Article 8 of the original rules that “a depositor of global depositary receipts can open a special securities account for depositary business in the company” and “a UK cross-border conversion institution can open three special securities accounts for cross-border conversion in the company”, Relevant entities are allowed to apply to our company for opening more securities accounts according to business needs.
(Financial Associated Press)
