Clearing and reconciliation institutions are organizations or institutions responsible for clearing and reconciliation. Clearing and reconciliation institutions at all levels include:
1. China National Advanced Payment System (CNAPS): managed by the People's Bank of China, used to handle large-sum payment and settlement between banks.
2. Third-party payment clearing institutions: clearing institutions of third-party payment platforms such as Alipay and WeChat Pay are responsible for handling transactions and settlement between users.
3. Clearing institutions of stock exchanges such as Shanghai Stock Exchange and Shenzhen Stock Exchange are responsible for clearing and settlement of securities transactions.
4. Clearing institutions of futures exchanges, such as Dalian Commodity Exchange and Shanghai Futures Exchange, are responsible for clearing and settlement of futures transactions.
5. Clearing institutions of commodity exchanges, such as Shanghai International Energy Exchange Center and Zhengzhou Commodity Exchange, are responsible for clearing and settlement of commodity transactions.
6. Central Bank Settlement Center: The interbank settlement institution established by the People's Bank of China is responsible for handling interbank settlement business nationwide.
Generally speaking, the establishment of a clearing and reconciliation institution needs to meet the following conditions:
1. has certain financial strength and technical ability, and can undertake important responsibilities of liquidation and reconciliation.
2. It has independent legal personality, stable organizational structure and sound internal control and risk management system.
3. It can effectively protect the safety of customers' funds and ensure the accuracy and timeliness of clearing and settlement business.
4. Comply with relevant laws, regulations and regulatory requirements, and accept the supervision and management of regulatory authorities.
5. For clearing and reconciliation institutions in specific fields, such as futures exchanges and stock exchanges, it is also necessary to have corresponding market operation experience and professional knowledge.