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Depository

Bond registration and depository services are essential to linking bond issuance and settlement, guaranteeing the safe and efficient operation of the bond market and preventing market risks.

Registration

In bond registration, CCDC with the authorization of competent authority confirms the holding of bond by a holder via book building.

CCDC provides registration and depository services for all kinds of bond varieties. The services include: distributing inter-bank bond codes and short names for related bonds and applying for International Securities Identification Number (“ISIN”) for issuers; conducting registration of whole-life-cycle bond elements and initial bond allocation; offering bond distribution service under the DVP model for underwriters and assisting issuance payment in the primary market; identifying the debtor-creditor relationship between issuers and investors and providing the service support in setting up the ownership of bonds; and handling the listing and circulation of bonds.

CCDC provides issuers with bond holder registration inquiry service. Issuers can request CCDC to provide the list of bond holders in the event of holding the meeting of holders, exercising option or dealing with the principal & interest payment default risk, etc.

Proceeds Disbursement

Upon the entrustment of issuers, CCDC conducts principal and interest payment and disburses other proceeds of bonds on behalf of issuers. This includes bond interest payment, principal redemption, subordinated-tranche proceeds distribution of asset-backed securities and disbursement of issuance fees.

Corporate Action

CCDC provides corporate action services to bond issuers and investors.

- Option services. CCDC provides the platform to send option orders and act on behalf of the issuers or investors to exercise the option, including put exercise for investors and call exercise for issuers.

- Information services. CCDC provides an information disclosure platform for issuers to publish corporate action informations, including bond principal redemption & interest payment announcements, option-exercising announcements and reports on custody of asset-backed securities, and provides investors with a variety of corporate action notices and result notices.

- Interest rate management services. CCDC provides the benchmark interest rate adjustment service for floating-rate bonds and post-exercise interest rate adjustment services for option-embedded bonds.

Account Management

CCDC provides a range of account management services for bonds under its depository.

- Special accounting treatment. In the case of judicial seizure, debt repayment or bankruptcy liquidation, etc., CCDC provides non-transaction bond ownership transfer services without payment; in the case of settlement failure at maturity of pledged repo, outright repo, bond lending, etc., CCDC conducts liquidation and distribution of underlying and pledged bonds according to the agreement between the two parties.

- ChinaBond Green Reconciliation. CCDC provides account reconciliation service for investors, and issues sealed certificates of holding in paper form. Currently, CCDC accepts online paperless self-service reconciliation application through the client “ChinaBond Green Reconciliation Service” and offline mailing of inquiry letters.

Other Depository Services

- Support for market making of Treasury bonds. As the general register and custodian of Treasury bonds, CCDC assists the Ministry of Finance in supporting market making of Treasury bonds. With the use of MOF CGB market-making facility, CCDC supports the market making in the inter-bank bond market over newly-issued Treasury bonds with key maturities.

- Cross-market depository transfer. Investors can transfer the same bonds they hold between different depository institutions. CCDC allows two-way transfer of multi-market bonds among the inter-bank bond market, exchanges’ bond market and OTC bond market, when applicable.

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