Bank-Securities Cooperation

The management of investors’ securities and funds is separated. CCB is responsible for providing investors with the transfer service of the margin, cash deposit and withdrawal, the settlement of funds with securities companies, registration and settlement companies. The securities companies are responsible for securities trading, share management and accounting the dealing spread. The securities companies operate the securities business and the bank operates funds business. It is a major breakthrough for the depository for investors’ margins.

What is Independent depository for securities clients? The securities companies authorize the CCB to manage the margins of investors. CCB is responsible for providing investors with the transfer service of the margin, cash deposit and withdrawal, the settlement of funds with securities companies, registration and settlement companies. It is a major breakthrough for the depository for investors’ margins. The PBC and China Banking Regulatory Commission (CBRC) decided to gradually promote this kind of depository system from 2004 with the goal establish a long-term mechanism for the safe operation of margins and protect the legitimate interest of the investors by avoiding the appropriation of the margins by securities companies and preventing the risks brought about by the deficiencies of the system. CCB is the pilot bank for this service designated by the PBC and CBRC as well as the only bank to offer this service.

The investors needs to do the following work to obtain the independent depository for securities clients:

The securities companies that launched independent depository for securities clients with the CCB include China Southern Securities, Hantang Securities, Minfa Securities, Dapeng Securities, China Securities Ltd., and Min’an Securities. So long as the securities companies sign the depository agreement with the CCB and complete the system interconnection, the CCB can start offer this service.

1. If you are the client of the business department of the securities companies and it is the first time you deposit or withdraw your funds, you need to obtain the margin account card at the outlets designated by the CCB or the designated counters within the business department of the securities companies.

2. If you are an agent, you need to obtain the broker relation confirmation from the business departments of securities companies and then go to the outlets designated by the CCB or the designated counters within the business department of the securities companies to obtain the margin account card.

3. If you are an institutional client, you need to obtain the institutional client relation confirmation from the business departments of securities companies and then go to the outlets designated by the CCB or the designated counters within the business department of the securities companies to obtain the margin account card.

Special note: the investors, who do not obtain the margin account card, can still proceed with their securities trading, but cannot deposit or withdraw the funds.

The investors need to take the following certificates to obtain the margin account cards:

If you do it by yourself, you need to present the ID card, client number (the fund account number of the former business department), the password of the margin account of former business department, the deposit cards (or the bankbook) of the CCB. If you do not have a bankbook, we can make one for you on the spot.  

If you are an agent, you need present your ID card, the ID card of your client, client number (the fund account number of the former business department), the agent relationship certificate (which can be offered by the business departments of securities companies) the password of the margin account of former business department, the deposit cards (or the bankbook) of the CCB.

IF you are an institutional client, you need present the ID card of the authorized agent, client number (the fund account number of the former business department), the institutional client relation confirmation (which can be offered by the business departments of securities companies), the password of the margin account of former business department, and the certificates for opening a corporate deposit account.    

 

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