2022-09-29-上海清算所-_会员通讯_第120期（2022年7月）_-_业务分析_16页_6mb

报告摘要

July 2022 Report Summary

The Shanghai Clearing House's July 2022 report provides an overview of its concentrated clearing and bond business operations for July. Below is a concise summary of key findings.

Overall Clearing Scale: In July 2022, the total concentrated clearing business reached 54 trillion RMB, showing a 39% year-over-year increase. Central counterparty clearing (CCP) scale was 14.5 trillion RMB, up by 5.5% YoY but rising 9.8% month-over-month.
Central Counterparty Clearing Breakdown: CCP includes segments such as bonds, interest rate swaps, and forex. In July, bond netting scale was 306.4 billion RMB (0.21% of CCP). Interest rate swaps led CCP with 20.35 trillion RMB (14%). Forex was the largest component at 12.17879 trillion RMB (83.78%). Other CCP cleared activities, like commodities, saw modest growth.
Other Concentrated Clearing Activities: This segment totaled 39.5 trillion RMB in July, with a 57.3% YoY surge. It includes bond full-value clearing and forex bilateral transactions.
Bond Business Summary: Shanghai Clearing House processed 2725 bond issuances with 2.4 trillion RMB face value in July, a 14% YoY decline. It also handled 2.5 trillion RMB in principal repayments and 44.9 billion RMB in interest payments. Total bond holdings reached 31.1 trillion RMB, marking a 1% monthly increase.
Market Structure and Growth Trends: Data highlights increasing involvement in infrastructure-connected bonds and derivatives. Growth is driven by CCP and bond transactions, with comparisons to prior months showing fluctuations in specific segments.