In August 2002, China Securities Depository and Clearing Company launched a set of open-end fund registration and settlement system (hereinafter referred to as China Settlement TA System) according to the needs of the open-end fund market. Relying on the existing securities account resources, fund settlement system and network communication facilities of China Clearing Shenzhen and Shanghai branches, the system provides centralized, automated and standardized services for domestic open-end fund transactions, registration and settlement. The system consists of subsystems such as TA, clearing summary, fund delivery and communication, and has relatively complete business functions, which can provide all-round services such as subscription, purchase, redemption, related registration and settlement, rights distribution and customer service for relevant participants. At present, the main business functions provided by the system basically cover the business functions of TA system built by fund companies.

At present, China settlement TA system has been connected with ICBC, Agricultural Bank, China Bank, China Construction Bank, Bank of Communications and other 10 national banks and nearly 50 brokerage agency systems. A wide-channel and efficient open-end fund registration and settlement platform has been successfully established.

The main features of China settlement TA system are:

1, unified access mode. The fund company only needs to exchange data with China settlement system, and can realize the connection of all consignment channels connected with China settlement system;

2. Unified account model. Using the existing securities account resources in Shanghai and Shenzhen to adapt to the trading habits of investors in the securities market, 70 million securities account holders are allowed to use their securities accounts directly to conduct open-end fund transactions, thus realizing the "one card" service;

3. centralized TA mode. Because there is only one processing point, it can handle complex business rules, which is beneficial to the comprehensive management of investors' accounts (such as convenient investor management and deferred expenses). ), improve the efficiency of clearing and settlement, and better adapt to the tax treatment of future open-end fund transactions and dividends;

4. As an intermediary agency specializing in securities registration and settlement, China Clearing can provide professional management for the operation of open-end funds and ensure the safe and efficient operation of the system; It is conducive to reducing the cost of the whole industry, reducing the waste of resources brought about by the diversification of the fund system and improving market efficiency;

5. Using China settlement TA system can better provide background service support for new products, such as LOF, closed to open, etc.