The Shanghai -Shenzhen Stock Exchange officially released the rules for convertible bond trading rules

In order to further regulate the various business activities of the listed company's convertible corporate bonds and promote the high -quality development of the convertible bond market, the Shanghai -Shenzhen Exchange has officially released the detailed settlement of convertible bond transaction a few days ago, and will be implemented from August 1, 2022.

The picture shows a staff member walk through the lobby of the Shenzhen Stock Exchange. Photo by Xinhua News Agency reporter Mao Siqian

The trading rules issued this time clarify the restrictions on the rising and decline of convertible bonds. The first day of the convertible debt is set up -43.3%to 57.3%of the rise and fall restrictions, and the temporary suspension mechanism of 20%and 30%of the two and 30%disks will be implemented. The next day will implement a 20%rising and falling restrictions. The trading rules have added abnormal fluctuations and severe fluctuation standards for convertible bond prices, specifying the types and related regulatory measures of convertible bonds abnormal trading behavior. At the same time, the trading rules also stipulate that the "Z" logo is added before the securities of the final trading day of convertible bonds, and the risks are fully prompting to investors to effectively protect the legitimate rights and interests of investors.

The relevant person in charge of the Shanghai Stock Exchange and the Shenzhen Stock Exchange stated that the trading rules are based on the characteristics of convertible bonds, optimize the transaction mechanism, strengthen transaction supervision, and strengthen risk prevention and control on the basis of giving a reasonable pricing space for convertible bonds, which will help prevent excessive speculation and promote it. The healthy and long -term development of the convertible bond market. (Reporter Yao Junfang, Pan Qing)

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