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Notice by the Shenzhen Stock Exchange of Issues Concerning Adjusting Trading Models of Listed Bonds [Effective]
深圳证券交易所关于调整债券上市期间交易方式有关事项的通知 [现行有效]

Notice by the Shenzhen Stock Exchange of Issues Concerning Adjusting Trading Models of Listed Bonds 


(No. 166 [2019] of the Shenzhen Stock Exchange) (深证上〔2019〕166号)

All market participants: 各市场参与人:
For the purposes of maintaining the stability of the bond market and protecting the lawful rights and interests of investors, in accordance with the Measures for the Management of Issuance and Trading of Corporate Bonds, the Rules of the Shenzhen Stock Exchange for Listing of Corporate Bonds (2018 Revision), the Detailed Rules of the Shenzhen Stock Exchange for the Implementation of Bond Trading (2019 Revision) and other relevant rules, the Shenzhen Stock Exchange (hereinafter referred to as the "Exchange") hereby announces issues concerning adjusting trading models of listed bonds as follows: 为维护债券市场稳定,保护投资者合法权益,根据《公司债券发行与交易管理办法》《深圳证券交易所公司债券上市规则(2018年修订)》《深圳证券交易所债券交易实施细则(2019年修订)》等相关规定,深圳证券交易所(以下简称本所)现就调整债券上市期间交易方式有关事项通知如下:
I. Where a corporate bond (excluding the convertible corporate bond of a listed company) or enterprise bond (hereinafter referred to as the "bond") listed on the Exchange, traded by auction and block trade, is under any of the following circumstances, the trading model shall be so adjusted as to trade only by block trade:   一、在本所上市,且同时采取集中竞价交易和大宗交易方式的公司债券(不含上市公司可转换公司债券)、企业债券(以下简称债券)出现以下情形之一的,交易方式调整为仅采取协议大宗交易方式:
1. The bond rating is downgraded to below AA. (一)债券信用评级调整为AA级(不含)以下;
2. Any other circumstance determined by the Exchange to protect the lawful interests of investors. (二)本所为保护投资者合法利益认定的其他情形。
The bond issuer, the trustee or an institution charged with the same duty (hereinafter referred to as the "trustee") shall apply for suspension of bond trading as from the trading day after any aforesaid circumstance occurs and promptly disclose relevant announcements such as rating reports from rating agencies. 债券发行人、受托管理人或者具有同等职责的机构(以下简称受托管理人)应当申请债券自出现上述情形次一交易日起停牌,并及时披露资信评级机构评级报告等相关公告。
II. A bond issuer or trustee shall issue an announcement on adjustment of the trading model at least two trading days before such adjustment. The announcement shall include the following:   二、债券发行人、受托管理人应当在交易方式调整前至少两个交易日发布交易方式调整公告。公告应当包括以下内容:
1. The bond name, bond code and date of adjusting the trading model (date of resumption of bond trading). (一)债券名称、债券代码及交易方式调整起始日期(债券复牌日);
2. Trading and settlement models on adjustment, including trading model, denomination model, and arrangements for management of investor suitability.

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