中央结算

中央结算及托管系统

Central Clearing and Depository System

第六，香港的银行需要在中央结算所保留正余额，其账户不可透支。

Sixth , the Hong Kong banks need to have a positive balance at the central clearing house . Their accounts cannot be overdrawn .

美联储（fed）今天将在纽约同证券交易商、投资人及交易所高管见面，试图加快为信用衍生品市场建立中央结算对手（centralcounterparty）的进程。

The Federal Reserve will meet dealers , investors and exchange executives in New York today to try to speed the creation of a central counterparty for the credit derivatives sector .

债务工具中央结算系统是香港的中央债券结算交收系统，而rits则为类似的澳洲政府债券系统。

CMU is the central clearing and settlement system for debt securities in Hong Kong and RITS is a similar system for Australian government debt securities .

根据匹兹堡协议，最迟在2012年年末，所有“标准化的”场外衍生品合约都应根据需要在交易所或电子交易平台上交易，并通过清算机构或中央结算对手（ccp）清算。

Under the Pittsburgh agreement , all " standardised " OTC derivative contracts should be traded on exchanges or electronic trading platforms , where appropriate , and cleared through clearing houses , or " CCPs " , by the end of 2012 at the latest .

日本的金融厅认为，至少需要建立一家中央结算对手，清算交易量达到特定水平的简单利率掉期和信贷违约掉期合约，比如日本的itraxx指数交易。

In Japan , the FSA has concluded that at least one CCP will be necessary for the clearing of straightforward interest rate swaps and credit default swaps of a certain turnover , such as itraxx Japan index transactions .

债务工具中央结算系统成员可买卖和持有韩国债券。

CMU members can trade and hold Korean debt securities .

《中央结算系统运作程序规则》

CCASS Operational Procedures ( Central Clearing and Settlement System Operational Procedures )

《强制证券借贷规例》（中央结算系统）

Compulsory Stock Borrowing and Lending Regulations ( CCASS )

一位监管专家表示：中央结算对手是最极的太大而不能倒闭的机构。

A CCP is the ultimate too-big-to-fail institution , says one regulatory expert .

如果中央结算对手倒闭了，你真的会看到金融末日。

If a CCP goes down , you really are looking at financial armageddon .

债务工具中央结算系统将会担任其成员的韩国债券托管人。

The CMU will act as custodian of Korean debt securities for CMU members .

强制证券借入交易（中央结算系统）

Compulsory Stock Borrowing Transaction ( CCASS )

中央结算系统的买卖净额持续交收制度

CCASS continuous net settlement system

中央结算系统参与者保荐帐户

CCASS Participant Sponsored Account

中央结算系统的每日活动报告

CCASS Daily Activities Report

强制证券借贷服务（中央结算系统）一、每日出借有价证券之种类与限额。

Compulsory Stock Borrowing and Lending Service ( CCASS ) Classes and amounts of securities loaned each day .

缺乏秩序或系统的安排或运作的。《中央结算系统运作程序规则》

Lacking order or methodical arrangement or function . CCASS Operational Procedures ( Central Clearing and Settlement System Operational Procedures )

夏威夷失去了自己所有的公信力，在糖碗，而债务工具中央结算系统及股还没有任何收入。

Hawaii lost all their credibility in the Sugar Bowl , while CMU and FAU have yet to earn any .

债务工具中央结算系统收到系统成员经系统终端机发出的确认交易讯息后，便会进行最终的结算交收程序。

After obtaining confirmation of the trade from the CMU members through their CMU terminals , the CMU will process the final settlement .

结算代理人应代理特定资产管理组合向中央结算公司申请开立债券账户。

The settlement agent shall apply for the opening of bond accounts to the CDC on behalf of the specific asset management portfolio .

目前，中央结算系统有217名成员，当中大部分是本港金融机构。

It has recorded remarkable growth since then and 217 CMU members , which are mostly financial institutions in Hong Kong , participate in the system .

香港中央结算有限公司负责管理为联交所的证券买卖而设的证券中央结算及交收系统。

The Hong Kong Securities Clearing Company ( HKSCC ) operates the Central Clearing and Settlement System ( CCASS ) for securities trading at the SEHK .

首先，卖家能通过这个计划借取债务证券，减低卖家因缺货以致无法结算的机会，从而提高债务工具中央结算系统债务证券结算效率。

First , it will improve the settlement efficiency of CMU instruments as securities made available by borrowing through the programme will help to reduce the chance of settlement failure .

中央结算公司将结算成员提交的保证金全额存入中央结算公司在中国人民银行的账户中，不得挪用。

The Central Clearing Company shall deposit the deposits submitted by clearing members in its account opened with the people 's Bank of China and shall not embezzle such funds .

有关经联交所参与者及中央结算系统递交竞争性投标申请的费用，投资者应向其股票经纪查询及参考中央结算系统的收费表。

For the fees for submitting competitive tender bids through stock exchange participants and ccass , investors should consult their stock brokers and refer to the charging scheme of ccass .

在资本成本上升、实行中央结算方式、相关期货在交易所交易，以及遏制一切有大银行勾结嫌疑操作的新世界，形势变得更加艰难。

In the new world of higher capital charges , central clearing , exchange-traded futures and a crackdown on anything that smacks of big banks colluding , things are tougher .

推出这个计划的目的，是要提高债务工具中央结算系统下私营机构债券的流通性和结算效率，以及通过提高贷方的收益率，从而增加这些债券对投资者的吸引力。

The programme aims to enhance the liquidity and settlement efficiency of CMU private sector debt securities , and increase their attractiveness to investors by enhancing the yields for the lenders .

新的联网安排可大大减低结算风险及提高结算效率，使亚洲投资者可透过债务工具中央结算系统成员，在安全稳妥的环境下结算及交收国际债券。

The new link will improve settlement risk and efficiency such that investors in this region can clear and settle international securities in a secure and robust environment through CMU members .

尽管台湾也在考虑建立中央结算对手，但一位央行官员表示，由于当地场外衍生品市场规模相对较小，因此没有必要急着这么做。

While Taiwan is also considering setting up a national CCP , a central bank official says there is no urgency to do so because its OTC derivative market is relatively small .