Inter-bank Market Clearing House Co., Ltd. (referred to as Shanghai Clearing House hereafter) was established on November 28, 2009. It is recognized as a Qualified Central Counterparty by the People’s Bank of China and is also one of the central securities depositories in China’s financial market.

With the objectives of “Standardization, Marketization, and Internationalization,” Shanghai Clearing House has established a unified CCP clearing service system in the OTC financial market. Additionally, it operates a national corporate credit bond center that provides registration, custody, and settlement services. As a CCP clearing institution, Shanghai Clearing House has achieved significant development and remarkable accomplishments since the financial crisis. It has become the executive committee of the Global Association of Central Counterparties (CCP12) and successfully facilitated the registration and establishment of CCP12 in Shanghai. CCP12 is the third international financial organization to make presence in China, following the BRICS Bank and AIIB, and it is the first international financial industry association to establish a presence in the country. The presence of CCP12 will contribute to enhancing Shanghai’s soft power as an international financial center in global competition. In 2018, Shanghai Clearing House recorded notable achievements. The total clearing volume reached 4.5649 million, representing a year-on-year increase of 31%. The corresponding amount reached RMB 349.49 trillion, showing a year-on-year increase of 32%. In terms of issuance and custody, a total of 32,700 bonds with a face value of RMB 26.80 trillion were issued, reflecting a year-on-year increase of 6% and 10%, respectively.

Main business:

I. Central Counterparty Clearing Services: Shanghai Clearing House offers central counterparty clearing services for various financial markets, including bonds, interest rates, exchange rates, shipping, commodity financial derivatives markets, and clearing services for commodity spot markets.

II. Registration and Custody Services: The organization provides a comprehensive range of registration and custody services. This includes tendering, issuance, registration, custody, clearing, and settlement services for debt financing instruments of non-financial enterprises, financial bonds, money market instruments, structural products, and other innovative financial products.

III. Risk Management and Valuation Services: Shanghai Clearing House specializes in risk management and valuation services. It offers risk monitoring, management, and disposal services. Additionally, it delivers 18 yield curves such as the interest rate swap curve and iron ore swap curve. It also provides services on 11 types and 32 sub-indexes of China’s credit bonds, along with over 39,000 bond valuations.

IV. Statistical Information Services: Shanghai Clearing House provides daily and historical statistics related to central counterparty clearing, registration custody, and settlement.

V. Financial Knowledge Dissemination Services: Shanghai Clearing House actively promotes financial knowledge dissemination. It creates a market communication platform known as the “Clearing House Salon.” It facilitates discussions, exchanges, and professional trainings and seminars focusing on centralized clearing, registration, custody, and settlement.