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PSBC launches futures margin depository services
PSBC launches futures margin depository services
| China Post |2019-05-22

On May 16, PSBC held a national teleconference on the initiation of futures margin depository services, officially kicking off the banking-futures cooperation. Xu Xueming, Vice President of PSBC, and Wang Weijun, Vice President of the Dalian Commodity Exchange (DCE), attended and addressed the teleconference.

On April 11, PSBC became a designated futures margin depository bank for the domestic customers of DCE, which indicates that PSBC has established a complete product system of financial institution depository services covering bank-securities fund depository services, over-the-counter financial institution fund depository services and futures margin depository services.

The conference highlighted that PSBC institutions at all levels should fully understand the role of the depository services in promoting other services of the Bank, and the executives should attach great importance to the implementation of the services and strengthen staff training to enhance their capabilities, so as to ensure the smooth operation and further development of the futures margin depository services.

The conference announced a national promotion plan. According to the plan, the futures margin depository services will start at some pilot branches of PSBC, and then spread sequentially in three batches to cover all other outlets. In the next step, PSBC will give full play to its advantages of abundant outlets and customers, continue to improve its business functions, optimize its customer services, and interconnect such services as “insurance+futures” project, farmers’ income guarantee program and standard warehouse receipt pledge financing, thereby pushing forward diversified banking-futures cooperation.

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