Definition
Huaxia Bank deposits the clearing fund from the securities company into a separate account, in line with the Administrative Measures on Customers' Clearing Funds (issued by China Securities Regulatory Commission) and the agreement signed with the securities company. The clearing fund herein refers the clearing fund of the customers, the proprietary fund of the securities company, and other funds used in securities transactions, all together.

Applicable Clients
China Securities Depository and Clearing Corporation Limited and its branches in Shanghai and Shenzhen; securities company body corporate; and business outlets of securities companies.

Service Flow
1. The securities company applies and opens special account at Huaxia Bank to deposit the clearing fund.
2. Huaxia Head Office collects all the applications submitted from securities companies (and their business outlets) through Huaxia branches. Huaxia Head Office then submits for filing at the Securities Regulatory Commission and advises the results to the securities companies. No accounts can be activated until China Securities Regulatory Commission approves the filing.
3. After the securities companies (or their business outlets) open the deposit account at Huaxia Bank for the clearing fund, they should submit for filing at China Securities Regulatory Commission three banking days after account opening. The accounts can not be used until a reply slip is received from the Regulatory.