A new clearing system for domestic mutual funds in China, the China Securities Depository & Clearing Corporation (SD&C), is being launched today – according to a report in Finance Asia. Brokers can use the system to sell registered funds to any institutional or retail investor with a brokerage account at either the Shanghai or Shenzhen stock exchanges. Brussels-based Euroclear has been working with SD&C since last year to upgrade its settlement systems, and SD&C is still in the process of integrating its two businesses at the bourses.
New Mutual Fund Clearing System Launched in China
A new clearing system for domestic mutual funds in China, the China Securities Depository & Clearing Corporation (SD&C), is being launched today according to a report in Finance Asia. Brokers can use the system to sell registered funds to any