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CSDC to Hold Its Second Business Training Program for Clearing Participants and Issuers in 2013
  • (2013-08-06)

From July 8th to 11th, 2013, China Securities Depository and Clearing Corporation Limited (hereinafter referred to as CSDC) held its second participant training program in 2013. The training covered topics of basic theories and practices of securities depository, clearing and settlement business, clearing and settlement risk management, clearing data services, and issuer business training, such as issuance registration, inquiry, dividends and other equity rights distributions, and on-line voting. More than 500 practitioners from 369 organizations, including 76 clearing participants and 293 issuers, attended the training program.

Mr. Zhou Ming, Secretary of the CPC Committee and General Manager of CSDC, was present at the training program and made an important speech. He shared three ideas with the trainees. First, he described the importance of the depository, clearing and settlement system for the development of the domestic financial market and the foreign financial market, stressing that the depository, clearing and settlement system is an systematically important facility for the financial market infrastructure and a solid foundation for the healthy development of the multi-level layer capital market. He expected the practitioners of the registration depository and clearing system to take pride in their work and make great contributions to the development of the securities market in China. Then, he gave a brief introduction to the efforts that CSDC has been making to support the construction of the multi-layer capital market and the development of the real economy, including the launch of securities account integration, promotion of the depository, clearing and settlement businesses for the New Third Board, regional and the OTC market, rolling out of the 10 initiatives to encourage the innovative development of securities companies, and the support for the innovation of the bonds markets. Lastly, he pointed out that market training is an important approach for CSDC to enhance communication and exchanges with the industry and to provide valuable opportunities for CSDC to hear real opinions about the market. CSDC attached great significance to market training and has integrated outstanding teaching resources in Beijing, Shanghai and Shenzhen to offer training workshops in 2013 in order to better serve the market. Moreover, CSDC has arranged symposiums at each training session to extensively listen to the opinions and suggestions from the market. Therefore, he expected the trainees to speak freely and frankly, so as to help CSDC continuously improve the quality and efficiency of its work.

To ensure good results from the large-scale training, sufficient preparations were made for this training. First, the training organization drew up detailed training implementation arrangements and clarified individual responsibilities in each area, including sign-in, evacuation, dining, and training environments, ensuring orderly implementation of the training at each of the five training sites. Second, intensive lecturing about theoretical knowledge regarding depository, clearing and settlement was provided for the first time, which was not only effective in imparting basic knowledge about registration and clearing, but also helped the market further understand CSDC. Third, a trainer evaluation session was provided to listen to the opinions and suggestions of the trainees, so as to help foster outstanding trainers. Fourth, the training materials were carefully prepared and standardized. A uniform PPT template was adopted to further improve the quality of the training materials. During the training, all the trainees expressed that the training materials had been improved in both content and format, which clearly reflected the efforts of the trainers. However, they also hoped that the training would not be limited to existing businesses and that more prospective and structured content would be provided. A peer exchange session was added to the clearing business training, where training participants were invited to share their own experiences. This was welcome by the trainees.

In addition, CSDC took this opportunity to hold two symposiums with clearing participants and listed companies. The leaders and department supervisors of CSDC attended the symposiums. In the symposium of clearing participants, securities companies were invited, and there was an in-depth discussion on topics such as improving the capital use efficiency of the participants, clearing business management, and bonds businesses. In the symposium of listed company, the listed companies on the main board, SME board and GEM were invited, and there was a full exchange on topics such as how to improve the existing depository services as well as the extended services (including improvement of shareholders meeting, stockholder’s rights drive, data processing and investor relationship management). The attendees actively expressed their viewpoints and provided many valuable opinions and suggestions. CSDC would immediately follow up the meeting with an analysis and research, in order to work out solutions, provide feedback to the market, and further improve the response speed.

The successful organization of this training provided practical experience for CSDC to arrange large-scale and comprehensive participant trainings in the future. As its next step, CSDC will prepare the training materials proposed by the trainees and provide online sessions for the practitioners who missed the on-site training.

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