Recently, the system of Beijing Depository and Clearing Corporation Limited was officially launched online, aiming to prevent illegal transactions, ensure the safety of transaction capital and improve the transaction efficiency.
This platform can carry out statistical monitoring, check delivery versus payment, and verify transaction rules and qualification based on the transaction data and capital flow data, which are collected from the exchange systems the platform connects to in Beijing.
It is learned that there are 51 exchanges in Beijing, which see an annual transaction amount of more than six trillion yuan ($875 billion). This year the platform will strive to connect to those exchanges as many as possible.
The platform is developed and operated by Beijing Depository and Clearing Corporation Limited, which is approved by the Beijing Municipal Government and jointly founded by 13 companies including China Beijing Equity Exchange and Beijing Financial Assets Exchange in June, 2016. Currently, the company has established cooperation with 17 banking institutions and signed strategic cooperation agreements with 27 exchanges.