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Announcement of the People's Bank of China (No. 4 [2009]) For purposes of maintaining the legitimate rights and interests of the inter-bank market participants (hereinafter referred to as the market participants) and promoting the regular and healthy development of the financial derivatives market of our country, the People's Bank of China and the State Administration of Foreign Exchange consent to the release of the text of the Master Agreement on Trading Financial Derivatives in the Inter-bank Market of China (hereinafter referred to as the Master Agreement) by the National Association of Financial Market Institutional Investors (hereinafter referred to the NAFMII), the relevant matters are hereby announced as follows:
| | 中国人民银行公告 (〔2009〕第4号) 为维护银行间市场参与者(以下简称市场参与者)合法权益,促进我国金融衍生产品市场的规范、健康发展,中国人民银行和国家外汇管理局同意中国银行间市场交易商协会(以下简称交易商协会)发布《中国银行间市场金融衍生产品交易主协议》(以下简称《主协议》)文本,现就有关事项公告如下:
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1. To engage in the trading of financial derivatives, a market participant shall sign a Master Agreement formulated and announced the NAFMII, and timely submit the Master Agreement signed and the supplementary agreement thereof to the NAFMII. The NAFMII shall timely notify China Foreign Exchange Trade System of the relevant information. The term “financial derivatives” as mentioned in this Announcement refers to the financial derivative contracts concluded between market participants in the one-to-one form, of which the trading terms and conditions are stipulated under the specific requirements of both trading parties, including interest rate derivatives, exchange rate derivatives, bond derivatives, credit derivatives, gold derivatives that meet the above requirements, as well as the portfolios of the aforesaid derivatives for trading.
| | 一、市场参与者开展金融衍生产品交易应签署交易商协会制订并发布的《主协议》,并及时将签署后的《主协议》及其补充协议向交易商协会备案。交易商协会应将有关签署信息及时告知中国外汇交易中心。 本公告所称金融衍生产品是指市场参与者间以一对一方式达成的、按照交易双方具体要求拟定交易条款的金融衍生合约,包括符合上述条件的利率衍生产品、汇率衍生产品、债券衍生产品、信用衍生产品和黄金衍生产品,以及前述衍生产品交易的组合等。
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2. The stipulations in the Master Agreement on standalone agreement, net amount of termination, etc. shall apply to the trading of financial derivatives.
| | 二、《主协议》关于单一协议和终止净额等约定适用于金融衍生产品交易。
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3. The financial derivative transactions entered into after the Master Agreement has been signed shall be governed by the Master Agreement. Those entered into before the Master Agreement is signed shall continue to be governed by the previously-signed master agreement upon negotiation of both trading parties, or be uniformly governed by the Master Agreement.
| | 三、《主协议》签署后达成的金融衍生产品交易适用《主协议》;《主协议》签署前达成的金融衍生产品交易可由交易双方协商约定继续适用原签署的主协议,或统一适用《主协议》。
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4. To ensure the stable transition between the new version and old version of the agreement, the 6 months after the date of announcement of the Master Agreement shall be the transition period for the execution of the Master Agreement. Market participants shall actively communicate and negotiate with each other within the transition period and sign the Master Agreement as soon as possible. ...... | | 四、为保证新旧协议文本的平稳过渡,《主协议》发布之日后的6个月为《主协议》实施的过渡期。市场参与者应在过渡期内积极沟通协商,尽快签署《主协议》。 ...... |
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