Risk Control Strategies Study Of DVP-based Securities Clearing System

The safety of the securities markets and efficient settlement are the foundation of the development of modern financial market . With the increasing expansion of market size and the speeding up of securities investment globalization process, the potential risk of China's securities clearing system is accumulating and deteriorating. China's securities clearing system is faced with the urgent need of functional improvement , structural adjustment, system change. This thesis attempts to research and resolve this problem, hope that the result of the study is helpful to the construction and development of China's securities clearing system.In this thesis, the structure is divided into five chapters, China's securities clearing risk control related issues are to be thinking and strategic proposals are put forward to. The study clue is to propose the relevant strategy of further improvement of China's securities clearing system through the depth analysis of China's securities clearing system risk. This thesis points out that DVP settlement system is the states primary measures and basic principles to control securities clearing system risk. Non-implementation of DVP settlement system leads to the largest gap on clearing agencies risk control between foreign countries and us. China's securities clearing system should fully learn from international experience, and refer to DVP implementation standard and model. At the same time we ought to research China's national risk control strategies of securities clearing system based on the actual development situation of China's securities clearing system.