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Notice by the Shenzhen Stock Exchange of Amending Several Clauses of the Detailed Implementation Rules of the Shenzhen Stock Exchange for Margin Trading and Short Selling involving the Maintenance Margin Requirement (2019) [Effective]
深圳证券交易所关于修改《深圳证券交易所融资融券交易实施细则》涉及维持担保比例若干条款的通知(2019) [现行有效]
【法宝引证码】

Notice by the Shenzhen Stock Exchange of Amending Several Clauses of the Detailed Implementation Rules of the Shenzhen Stock Exchange for Margin Trading and Short Selling involving the Maintenance Margin Requirement 

深圳证券交易所关于修改《深圳证券交易所融资融券交易实施细则》涉及维持担保比例若干条款的通知

(No. 287 [2019] of the Shenzhen Stock Exchange) (深证会〔2019〕287号)

All market participants: 各市场参与人:
For the purposes of effectively conducting the risk management of margin trading and short selling, and promoting the long-term stable development of margin trading and short selling, with the approval of the China Securities Regulatory Commission (CSRC), the Shenzhen Stock Exchange (SZSE) has amended several clauses of the Detailed Implementation Rules of the Shenzhen Stock Exchange for Margin Trading and Short Selling (2016 Revision) (hereinafter referred to as the “Detailed Implementation Rules”) involving the maintenance margin requirement. You are hereby notified of the relevant matters as follows: 为进一步做好融资融券业务的风险管理,促进融资融券业务长期平稳发展,经中国证监会批准,本所对《深圳证券交易所融资融券交易实施细则(2016年修订)》(简称《实施细则》)中涉及维持担保比例若干条款进行了修改。现将有关事项通知如下:
I. Article 4.9 is amended to read:   一、第4.9条修改为:
“A member shall monitor the collateral submitted by the client as a whole, and calculate its maintenance margin requirement. “会员应当对客户提交的担保物进行整体监控,并计算其维持担保比例。
“Maintenance margin requirement means the ratio between the value of a client's collateral and its debts incurred from margin trading and short selling. The calculation formula is as follows: “维持担保比例是指客户担保物价值与其融资融券债务之间的比例。其计算公式为:
...... “维持担保比例=(现金+信用证券账户内证券市值总和+其他担保物价值)/(融资买入金额+融券卖出证券数量×当前市价+利息及费用总和)
 “公式中,其他担保物是指客户维持担保比例低于最低维持担保比例时,客户经会员认可后提交的除现金及信用证券账户内证券以外的其他担保物,其价值根据会员与客户约定的估值方式计算或双方认可的估值结果确定。
 “客户信用证券账户内的证券,出现被调出可充抵保证金证券范围、被暂停交易、被实行风险警示等特殊情形或者因权益处理等产生尚未到账的在途证券,会员在计算客户维持担保比例时,可以根据与客户的约定按照公允价格或其他定价方式计算其市值。”
 ......

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