China Financial Futures Exchange (CFFEX) has revised its rules for delivery of T-bond futures contracts, banning clients without reporting their effective accounts for T-bond custody from entering the delivery month. According to CFFEX, the move is to scrutinize existing T-bond futures contract investors and select quality ones to steady T-bond futures delivery business on the bourse.
As market watchers say, a "hand-raising" delivery mode by T-bond futures contract sellers will be applied for 10-year and 5-year T-bond futures contracts for delivery in September 2015 as from July 1. Under the mode, CFFEX will decide, after T-bond futures contracts sellers submitting applications for delivery, the buyers' positions to enter delivery pursuant to the sellers' delivery applications reporting and days of holding.
Besides, CFFEX unified rules for the delivery of 10-year T-bond future contracts and 5-year ones given their high similarities except for the scope of deliverable T-bonds.
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