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Article NO. Content


Rules Governing the Proprietary Trading of Foreign Bonds by Securities Firms  CH

Amended Date: 2022.06.08 (Articles 4, 6-4, 7, 11, 15 amended,English version coming soon)
Current English version amended on 2020.09.15 
Article 7     Securities firms may conduct proprietary trading of foreign bonds outright or under repurchase or reverse repurchase agreements.
     When securities firms buy or sell foreign bonds over the counter, the counterparties of such transactions shall be limited to professional investors. However, this restriction does not apply to repo transactions.
     When a securities firm engages in foreign bond repo transactions with non-professional investors, the credit rating of the subject bonds shall comply with the provisions of Attachment 1, and the subject bonds also shall meet the following conditions:
  1. The bonds may not be structured bonds, bonds with equity characteristics, or subordinated bonds.
  2. The interest shall be calculated by a fixed rate (which may be zero interest) or a positive floating rate.