The Shanghai Head Office of the People's Bank of China (“PBC”); all branches and operations offices of the PBC, and all central sub-branches of the PBC in capital cities of provinces (autonomous regions); the central sub-branch of the PBC in Shenzhen; China Development Bank, all policy banks, state-owned commercial banks, joint-stock commercial banks and Postal Savings Bank of China; and Clearing Center for City Commercial Banks, Rural Credit Banks Funds Clearing Center, and Shanghai Commercial Paper Exchange Corporation Ltd.:
According to the relevant work arrangements, for the purpose of building a unified market of negotiable instruments, the PBC has transferred the operation of the Electronic Commercial Draft System to Shanghai Commercial Paper Exchange Corporation Ltd. as of October 7, 2017. The revised Measures for the Administration of the Electronic Commercial Draft System (Annex 1), Measures for the Administration of the Operation of the Electronic Commercial Draft System (Annex 2), Measures for the Administration of the Digital Certificates for the Electronic Commercial Draft System (Annex 3), and Crisis Intervention Plan for the Electronic Commercial Draft System (Annex 4) are hereby issued to you for your compliance and implementation.
The former Measures for the Administration of the Electronic Commercial Draft System, Measures for the Administration of the Operation of the Electronic Commercial Draft System, Measures for the Administration of the Digital Certificates for the Electronic Commercial Draft System, and Crisis Intervention Plan for the Electronic Commercial Draft System (Issued by Document No. 328 [2009], PBC) and the Notice by the General Office of the People's Bank of China of Simplifying the Procedures for the Review of the Access to the Electronic Commercial Draft System (No. 90 [2015], General Office of the PBC) shall be repealed concurrently.
The Shanghai Head Office of the PBC, all branches and operations offices of the PBC, all central sub-branches of the PBC in capital cities of provinces (autonomous regions), and the central sub-branch of the PBC in Shenzhen shall forward this Notice to all branch offices of the PBC and all urban commercial banks, rural commercial banks, rural cooperative banks, rural credit cooperatives, village banks, foreign-funded banks, and finance companies within their respective jurisdictions.
Annexes:
1. Measures for the Administration of the Electronic Commercial Draft System
2. Measures for the Administration of the Operation of the Electronic Commercial Draft System
3. Measures for the Administration of the Digital Certificates for the Electronic Commercial Draft System
4. Crisis Intervention Plan for the Electronic Commercial Draft System
The People's Bank of China
June 4, 2018
Annex 1
Measures for the Administration of the Electronic Commercial Draft System
Chapter I General Provisions
Article 1 For the purposes of enhancing the administration of the Electronic Commercial Draft System (“ECDS”), and guaranteeing the safe, stable and efficient operation of the ECDS, these Measures are developed in accordance with the Law of the People's Republic of China on the People's Bank of China, the Negotiable Instruments Law of the People's Republic of China, the Electronic Signature Law of the People's Republic of China, the Measures for the Administration of Electronic Commercial Draft Business (Issued by Order No. 2 [2009], PBC), the Measures for the Administration of Trading in Negotiable Instruments (Issued by Announcement No. 29 [2016], PBC) and relevant legal systems.
Article 2 Shanghai Commercial Paper Exchange Corporation Ltd. (hereinafter referred to as “Shanghai Commercial Paper Exchange”) is the operator of the ECDS designated by People's Bank of China (“PBC”), and is responsible for the building and operation of the ECDS.
These Measures shall apply to Shanghai Commercial Paper Exchange and the participants that handle their business through the ECDS.
Article 3 “ECDS” means the business processing platform established with the approval of the PBC for the purposes of receiving, storing and sending electronic commercial draft (“ECD”) data messages and providing services related to monetary payment and fund clearing of ECD, among others, by relying on network and computer technologies.
ECD registration, circulation and settlement and other business must be handled through the ECDS of Shanghai Commercial Paper Exchange or other relevant systems.
Article 4 “Participants in the ECDS (hereinafter referred to as “ECDS participants”)” means the banking financial institutions and finance companies (hereinafter collectively referred to as “financial institutions”) that have bank codes in High-Value Payment System (“HVPS”), and can directly access ECDS and process ECD business through the ECDS.
Article 5 ECDS participants shall access the ECDS by means of direct connection through access points.
“Access point” means an access system that allows a financial institution to access the ECDS, through which an ECDS participant sends and receives relevant services.
The ECDS assigns a unique access point code to an access point.
Article 6 “Means of direct connection” means a way of access in which an ECDS participant handles ECD business via the ECDS data interface.
Direct connection is divided into autonomous direct connection and centralized-access direct connection. An ECDS participant may choose a direct connection access way on its own initiative, but may access the ECDS only by one way.
“Autonomous direct connection” means the way of access in which a financial institution accesses the ECDS through the direct connection of its own system to the ECDS.
“Centralized-access direct connection” means the way of access in which a financial institution accesses the ECDS through the direct connection made by a centralized access technology service organization. Shanghai Commercial Paper Exchange shall take charge of developing the relevant provisions on centralized access technology service organizations.
Article 7 Shanghai Commercial Paper Exchange shall ensure the accurate reception, storage and transmission of business orders of the ECDS to protect the legitimate rights and interests of ECDS participants.
Article 8 ECDS participants shall consciously comply with the relevant provisions issued by the PBC and Shanghai Commercial Paper Exchange.
Article 9 Shanghai Commercial Paper Exchange and ECDS participants shall take effective measures to establish and improve the internal management rules related to the ECDS, and prevent the credit risks, liquidity risks, operational risks, legal risks and systemic risks related to the ECDS.
Article 10 Shanghai Commercial Paper Exchange and ECDS participants shall establish and improve the troubleshooting and emergency response mechanisms to ensure the safe and stable operation and normal business processing of the ECDS.
Article 11 The running time of the ECDS shall be specified by Shanghai Commercial Paper Exchange in a unified manner.
Article 12 The business processing information sent and circulated through the ECDS shall be in the information formats as prescribed by the PBC and be signed electronically to ensure data security.
Article 13 Any adjustment to the core business functions of the ECDS by Shanghai Commercial Paper Exchange may not be implemented until it has been approved by the PBC; and any adjustment to the non-core business functions of the ECDS shall be reported to the PBC for recordation.
Shanghai Commercial Paper Exchange shall, prior to January 31 of each year, submit to the PBC a written report on the operation of the ECDS in the previous year.
Article 14 The PBC shall perform the following regulatory functions in accordance with the law:
(1) Developing the ECDS management rules.
(2) Reviewing the adjustments to the core business functions of the ECDS.
(3) Guiding the administration of the admission, change and exit of ECDS participants.
(4) Conducting supervisory inspection of the business activities of Shanghai Commercial Paper Exchange and ECDS participants.
(5) Reviewing the major crisis intervention plan for the ECDS.
(6) Other regulatory functions as prescribed by laws and regulations and the regulations of the PBC.
Chapter II Admission, Change and Exit
Article 15 Shanghai Commercial Paper Exchange shall conduct the acceptance and review of applications for admission, change and exit of ECDS participants under the guidance of the PBC.
Article 16 The financial institutions having access to the ECDS shall meet the following conditions:
(1) Having bank codes in the HVPS.
(2) Meeting the relevant technical and security requirements for entering the ECDS.
(3) Having sound internal management rules related to the ECDS.
(4) Other conditions as prescribed by the PBC and Shanghai Commercial Paper Exchange.
Article 17 The formalities for a financial institution's application for accession to the ECDS shall be undergone by its corporate body through the procedures of application, review, implementation and accession.
“Application” means the financial institution's submission of its written request to get access to the ECDS to Shanghai Commercial Paper Exchange as required.
“Review” means Shanghai Commercial Paper Exchange's examination and confirmation of the financial institution's accession to the ECDS.
“Implementation” means the financial institution's completion of all preparations before the connection of its internal system with the ECDS as required.
“Accession” means the financial institution's formal accession to the ECDS.
Article 18 A financial institution or any of its branches that needs to get access to the ECDS shall file a written application through its corporate body, and comply with the relevant provisions on ECDS participants' accession issued by Shanghai Commercial Paper Exchange.
A financial institution that applies for centralized-access direct connection shall also submit a centralized access technology service organization's written opinion approving its use of access services.
Article 19 Shanghai Commercial Paper Exchange shall, after accepting application materials, review the application within 20 working days, and notify the financial institution of the review result.
Article 20 The financial institution that passed the review may start the project implementation. After the completion of project implementation, Shanghai Commercial Paper Exchange shall conduct the project acceptance check and issue an acceptance check report.
Before providing centralized access services, a centralized access technology service organization shall pass the project acceptance check of Shanghai Commercial Paper Exchange, and obtain an acceptance check report.
Article 21 The date of accession of a financial institution that passes the acceptance check to the ECDS shall be determined by Shanghai Commercial Paper Exchange.
If a financial institution that is to get access to the ECDS is a finance company, it shall, under the territorial administration principle, file an organization code application with the Shanghai Head Office, a branch, or an operations office of the PBC, a central sub-branch of the PBC in a capital city of the province (autonomous region), or the central sub-branch of the PBC in Shenzhen which shall prepare for it the organization code of a finance company according to the bank code numbering standards of the payment system; and the finance company shall submit the organization code to Shanghai Commercial Paper Exchange which shall, after completing the organization code data declaration process, determine the date of its accession to the ECDS.
Article 22 Where a financial institution that has got access to the ECDS through its corporate body needs to add a branch as an ECDS participant, in principle, the corporate body of the financial institution shall file an application with Shanghai Commercial Paper Exchange, and submit the application materials required by Shanghai Commercial Paper Exchange.
Shanghai Commercial Paper Exchange shall determine the effective date of the addition of an ECDS participant, and maintain it in the ECDS.
If an ECDS participant to be added is a branch of a finance company, it shall, under the territorial administration principle, file an organization code application with the Shanghai Head Office, a branch, or an operations office of the PBC, a central sub-branch of the PBC in a capital city of the province (autonomous region), or the central sub-branch of the PBC in Shenzhen which shall prepare for it the organization code according to the bank code numbering standards of the payment system; and the corporate body of the finance company shall submit the organization code of the branch to Shanghai Commercial Paper Exchange which shall, after completing the organization code data declaration process for it, determine the effective date of the addition of the ECDS participant.
Article 23 Where a financial institution needs to change its access method, in principle, its corporate body shall file an application with Shanghai Commercial Paper Exchange, and undergo relevant formalities under the procedures for accession to the ECDS.
Article 24 If an ECDS participant is to exit from the ECDS, in principle, the corporate body of the ECDS participant shall file an application with Shanghai Commercial Paper Exchange, and submit the application materials required by Shanghai Commercial Paper Exchange.
After determining the exit date, Shanghai Commercial Paper Exchange shall maintain it in the ECDS.
If an ECDS participant needs to establish an undertaking relationship according to the provisions of these Measures, it shall be governed by the provisions regarding the establishment of an undertaking relationship in these Measures before exiting.
Article 25 If an ECDS participant is to exit from the ECDS, it shall designate another ECDS participant as the undertaker of its ECD business. If the undertaker and the party with its ECD business undertaken is subordinate to the same incorporated institution, the corporate bodies of the both shall submit to Shanghai Commercial Paper Exchange an Undertaking Application (Undertaking within the Same Incorporated Institution) (Attachment 1); and if the undertaker and the party with its ECD business undertaken are subordinate to different incorporated institutions, the corporate body of the undertaker shall submit to Shanghai Commercial Paper Exchange an Undertaking Application (Undertaking between Different Incorporated Institutions) (Attachment 2).
After determining the effective date of the undertaking, Shanghai Commercial Paper Exchange shall maintain it in the ECDS. From the effective date of the undertaking relationship, the bill business of the party with its ECD business undertaken and its clients shall be handled by the undertaker.
A banking financial institution with its ECD business undertaken shall choose a banking financial institution as the undertaker.
A finance company with its business undertaken may choose a banking financial institution or a finance company as the undertaker.
Article 26 Where an ECDS participant falls under any of the following circumstances, Shanghai Commercial Paper Exchange may force it to exit from the ECDS or restrict some of its functions, and report to the PBC:
(1) It provides false application materials to get access to the ECDS by fraudulent means.
(2) It seriously violates the relevant rules of the ECDS, affecting the normal processing of business.
(3) There are major hidden risks that affect the safe operation of the ECDS.
(4) The ECDS participant attracts principal institutions in violation of regulations, causing major hidden risks.
(5) Others circumstances affecting the safe and stable operation of the ECDS.
If Shanghai Commercial Paper Exchange forces an ECDS participant to exit from the ECDS or restricts some of its functions, it shall serve a written notice on its corporate body.
Article 27 From the date of service of a written notice on exit, an ECDS participant involved in any debtor-creditor relationship related to bills shall enter the exit waiting period during which it may not conduct any new business.
If the debtor-creditor relationship related to bills is cleared or undertaken by any other ECDS participant, the ECDS participant shall formally exit from the ECDS after the end of the exit waiting period.
Article 28 An ECDS participant forced to exit from the ECDS may not apply for accession to the ECDS within two years from the date of exit.
Chapter III Business Agency
Article 29 “Business agency” means a business handling method adopted by a banking financial institution or financial company or any other financial institution as a participant in the interbank bond market that does not access the ECDS through direct connection to handle ECD business through an ECDS participant.
The ECDS participants providing ECD business agency services are called agencies.
The financial institutions that handle ECD business through agencies are called principal institutions.
Article 30 The financial institutions that are to provide ECD business agency services shall report to Shanghai Commercial Paper Exchange for approval through their corporate bodies.
Article 31 The corporate body of an agency shall report on a regular basis to Shanghai Commercial Paper Exchange the information on ECD business agency, including the information on the agency and the principal institution, and the information on the implementation of ECD business by the principal institution, among others. Shanghai Commercial Paper Exchange shall examine the regulatory compliance of implementation of the agency business.
Article 32 Agencies shall strengthen the qualification administration of principal institutions; strictly review the authenticity, completeness and regulatory compliance of the certification documents proving principal institutions' launch of ECD business, and be responsible for the authenticity of principal institutions and their true will to get access to the ECDS; and shall not provide ECD business agency services for the participants that have got access to the ECDS.
Agencies shall, in accordance with the provisions issued by the PBC, open RMB interbank settlement accounts for principal institutions for the purpose of handling ECD business.
A principal institution may only choose one agency to handle ECD business.
Article 33 Agencies shall strengthen the routine administration of principal institutions. In case of any suspicious circumstance, an agency shall stop providing the ECD business agency services, and report to Shanghai Commercial Paper Exchange.
Article 34 If an agency's failure to perform the due diligence responsibility triggers a risk event, Shanghai Commercial Paper Exchange may, in light of the seriousness of the circumstances, take the measure of notifying it by letter, interviewing it, or suspending or canceling its power as a business agency, among others.
Article 35 Where the corporate body of a principal institution accesses the ECDS through direct connection, from the date of access, the agency shall stop providing the principal institution with new ECD business agency services, and existing business may continue to be settled under the mode of business agency.
Chapter IV Business Processing
Article 36 The ECDS supports the ECD custody business, information reception and storage business, information sending business, information updating business, ECD delivery versus payment, and information service business.
Article 37 “ECD custody business” means the ECDS' custody of an ECD registered in the ECDS.
Article 38 “ECD information reception and storage business” means the ECDS' reception of and reply to an application for any kind of act of a party to the draft sent by an ECDS participant and storage of it in the ECDS.
Article 39 “ECD information sending business” means the ECDS' forwarding of relevant information to the internal system of the receiver based on the ECD information submitted by the initiator's internal system and initiative sending of relevant information to an ECDS participant according to the business processing needs.
When the ECDS forwards draft information, it shall only forward the signatures and seals of the parties to the act involving the draft this time, and shall not forward the signature and seal of any party to a historical act involving a draft.
Article 40 “ECD information updating business” means the ECDS' real-time recording of draft information and act information based on the information on any act involving the draft of a part to the draft sent by an ECDS participant.
Article 41 “ECD delivery versus payment business” means the ECDS' provision of real-time fund clearing services related to presentation for payment, discounting, inter-bank discounting and rediscounting of an ECD.
Article 42 “ECDS information service business” means the ECDS' provision of information release services such as ECD information query on a case-by-case basis or in batch, query of the payment credit information of a party to an ECD, query of an ECDS participant's relevant information, and broadcast announcement.
Chapter V Troubleshooting
Article 43 Shanghai Commercial Paper Exchange and financial institutions shall establish and improve the ECDS troubleshooting and emergency response mechanisms to ensure the continuity of business processing, the integrity of data and the security of funds.
“ECDS emergencies” means unexpected natural disasters, accidents, public health incidents, social security incidents and other emergencies which affect the normal operation of the ECDS.
Article 44 Shanghai Commercial Paper Exchange and financial institutions shall effectively conduct the collection, analysis and reporting of the information on the abnormal operation and emergencies of the ECDS, and establish and improve the early warning mechanisms for abnormal system operation and emergencies, so as to discover and report problems and get prepared as early as possible.
Article 45 In case of any failure of the ECDS, Shanghai Commercial Paper Exchange and financial institutions shall handle it under the principle of “reporting it before handling, and restoring the operation of the system as soon as possible.”
When a financial institution encounters a system failure, it shall report to Shanghai Commercial Paper Exchange in a timely manner; and when Shanghai Commercial Paper Exchange encounters a system failure or receives a system failure reported by a financial institution, it shall report to the PBC in a timely manner. In case of a major system failure that affects the normal business processing, the failure shall be reported within half an hour after the failure occurs.
Article 46 The content of a failure report shall include the nature of the failure, how it affects the operation of the system, how it affects business processing, on-site disposal information, and the launch of technical emergency response plans, among others.
A failure report shall be in writing, or may be made by way of telephone first before in writing if the circumstances are urgent.
Article 47 In case of an online failure of the access point front-end processor or the ECDS, the failure emergency response mechanism shall be activated to eliminate the failure as soon as possible and return to normal work.
In case of any failure of an access point, an application for re-sending the business messages during the period of failure may be submitted to Shanghai Commercial Paper Exchange after the failure recovery of the access point.
Article 48 After an access point fails, business verification shall be conducted according to the following rules:
If the access point returns to normal before the end of the day when the access point fails, the ECDS shall conduct normal day-end reconciliation with the access point.
If access point cannot be restored to normal before the end of that day, and the failure day is during the system data retention period, the ECDS shall send the business verification messages on the failure day to the access point on the day when the access point returns to normal, and completes the reconciliation processing on the failure day.
Where the access point cannot return to normal before the end of that day, and the failure day is not during the system data retention period, the financial institution shall file an application in writing with Shanghai Commercial Paper Exchange to ensure the consistency between the internal system data of the financial institution and the data in the ECDS by means of re-importing data.
Article 49 In case of the online failure of the ECDS or the HVPS, the system operator shall start the failure emergency response plan as required to eliminate the failure as soon as possible and return to normal work.
In the case of an online failure, the ECDS shall not accept delivery versus payment business messages, and return the delivery versus payment business messages sent by ECDS participants. After the online function is recovered, the ECDS shall handle the delivery versus payment business through the normal business process.
Article 50 After the troubleshooting of the ECDS, Shanghai Commercial Paper Exchange and financial institutions shall effectively recover and verify business data as soon as possible, and resume the normal operation of the system and the normal processing of the business as soon as possible.
Article 51 In case of a major system failure which cannot be removed within the tolerable time limit, with the approval of the PBC, Shanghai Commercial Paper Exchange may announce the suspension of the ECDS, and start the failure rescue procedure in accordance with the relevant provisions.
Chapter VI Supplemental Provisions
Article 52 These Measures shall be subject to interpretation and revision by the PBC.
Article 53 These Measures shall come into force on the date of issuance.
Attachments 1: Undertaking Application (Undertaking within the Same Incorporated Institution)
2. Undertaking Application (Undertaking between Different Incorporated Institutions)
Attachments 1:
Undertaking Application
(Undertaking within the Same Incorporated Institution)
Shanghai Commercial Paper Exchange Corporation Ltd.:
XX institution (bank name: , bank code: ) subordinate to our institution, due to XX, needs to have its ECD business undertaken by XX institution (bank name: , bank code: ) subordinate to our institution. Our institution is willing to assume the corresponding legal liabilities arising from the ECD business undertaking. You are requested to handle it.
Seal of XX Commercial Bank/Finance Company
DD/MM/YYYY
Attachment 2:
Undertaking Application
(Undertaking between Different Incorporated Institutions)
Shanghai Commercial Paper Exchange Corporation Ltd.:
XX institution (bank name: , bank code: ) subordinate to XX institution, due to XX, needs to have its ECD business undertaken by XX institution (bank name: , bank code: ) subordinate to our institution. Our institution is willing to assume the corresponding legal liabilities arising from the ECD business undertaking. You are requested to handle it.
Appendix: Undertaking Agreement
Seal of the undertaker
DD/MM/YYYY
Seal of the party with its ECD business undertaken
DD/MM/YYYY
Annex 2
Measures for the Administration of the Operation of the Electronic Commercial Draft System
Chapter I General Provisions
Article 1 For the purposes of regulating the administration of the operation of the Electronic Commercial Draft System (“ECDS”), and guaranteeing the safe, stable and efficient operation of the ECDS, these Measures are developed in accordance with the Law of the People's Republic of China on the People's Bank of China, the Negotiable Instruments Law of the People's Republic of China, the Electronic Signature Law of the People's Republic of China, the Implementation Measures for the Administration of Negotiable Instruments, the Measures for Payment and Settlement (No. 393 [1997], PBC), the Measures for the Administration of Electronic Commercial Draft Business (Issued by Order No. 2 [2009], PBC) and relevant legal systems.
Article 2 “ECDS” means the business processing platform established with the approval of the People's Bank of China (“PBC”) for the purposes of receiving, storing and sending electronic commercial draft (“ECD”) data messages and providing services related to monetary payment and fund clearing of ECDs, among others, by relying on network and computer technologies.
Article 3 These Measures shall apply to Shanghai Commercial Paper Exchange Corporation Ltd. (hereinafter referred to as “Shanghai Commercial Paper Exchange”) and single front-end processor operation and maintenance departments; departments responsible for the network operation, maintenance and management of the ECDS; and departments responsible for the routine operation of the rediscounting system.
Article 4 The scope of ECDS operation administration shall include:
(1) National Processing Center of the ECDS (hereinafter referred to as “NPC”);
(2) City Clearing Processing Center of the ECDS (hereinafter referred to as “CCPC”);
(3) ECDS single front-end processors;
(4) ECDS backup system.
(5) ECDS networks;
(6) Application security subsystems of the ECDS; and
(7) ECDS rediscounting system.
Article 5 Shanghai Commercial Paper Exchange shall be responsible for the operation, maintenance and management of the NPC, CCPCs, the ECDS backup system, relevant networks, and application security subsystems, for rediscounting system maintenance, and for guiding and providing technical support for system operation and the operation and maintenance of single front-end processors.
ECDS network operation and maintenance departments shall be responsible for the operation, maintenance and management of the networks related to the ECDS.
Single front-end processor operation and maintenance departments shall be responsible for the ECDS operation, maintenance and management of their respective entities (or departments).
Rediscounting system routine operation departments shall be responsible for the routine operation and maintenance of the rediscounting system.
Chapter II Position Administration
Article 6 Shanghai Commercial Paper Exchange and single front-end processor and rediscounting system operation and maintenance departments shall reasonably arrange the personnel at all posts to ensure the safe and stable operation of the ECDS.
Article 7 Shanghai Commercial Paper Exchange shall establish the system management post, the business supervisor post, business operation post, the ECD management post, the ECDS participant administration post, the market development post, the legal compliance post, the system maintenance post, the registration authority (“RA”) management post, the RA review operation post, the RA entry operation post and the digital certificate administration post.
A single front-end processor operation and maintenance department shall set up the system management post, the business supervisor post, the system maintenance post, and the business operation post.
A rediscounting system routine operation department shall set up the system management post, the business supervisor post, the business operation post and other relevant posts as needed for rediscounting business processing.
Article 8 A person may concurrently hold the business operation post and the RA entry operation post of an application security subsystem, but shall not hold any other post concurrently; the person holding the system management post or the system maintenance post may not concurrently hold the business supervisor post, the ECD management post, the ECDS participant administration post, the market development post, or the legal compliance post; and the RA administration post, the RA review operation post and the RA entry operation post may not be concurrently held.
Article 9 The system management post shall take charge of adding, changing and deleting users.
Article 10 The business supervisor post (excluding rediscounting system business supervisor) shall take charge of the business operation of the system and the monitoring of business operation status; setting business parameters, maintaining basic data, and processing or authorizing the processing of abnormal business operations; arranging for business operators to correctly handle business, and authorizing users' business operations, among others; providing business consulting and coordination services; and reviewing the authenticity of certificate binding relationships.
The rediscounting system business supervisor shall take charge of user review and the initial setting, change and cancellation of digital certificates, among others.
Article 11 The business operation post (excluding the rediscounting system business operation post) shall take charge of conducting the routine operation and monitoring as authorized by the business supervisor, processing business according to the scope of duties, conducting statistics of information on violations of regulations, and printing relevant business lists.
The rediscounting system business operation post shall be responsible for the signing for receipt, redemption and reminder payment upon maturity, among others, in the rediscounting business.
Article 12 The ECD management post shall take charge of identifying and preventing ECD operational risks, and developing relevant rules and regulations; conducting research on and promoting the business development of the ECDS; and studying ways to improve the functions of the ECDS.
Article 13 The ECDS participant administration post shall be responsible for the related settings such as system participants' accession, change, exit and undertaking; handling organization code anomalies; coordinating in the addition of ECDS participants; and notifying ECDS participants of system operation adjustments.
Article 14 The market development post shall take charge of conducting statistical analysis of business information, and providing information services for system participants; and establishing service platforms and providing window services.
Article 15 The legal compliance post shall take charge of conducting supervisory inspection of the implementation of the operation administration system for the ECDS according to the business management requirements; obtaining evidence for various negotiable instrument disputes, assessing the draft information leakage or tampering and other events and offering disposal opinions; assisting the judicial, auditing and other relevant institutions in making query and producing evidence; and developing the administrative measures and handling procedures for draft freezing and deduction.
Article 16 The system maintenance post shall take charge of installing and maintaining computer software, hardware and network equipment, and network system; solving technical problems arising during system operation; setting system parameters, and monitoring system operation status; completing system and data backup on a regular basis; providing technology consulting and coordinating services; and providing technical support for the stable operation of the system, among others.
Article 17 The RA administration post shall be responsible for the administration of the certificates of relevant operators in the ECDS, including the authorization of the relevant operators and the issuance of certificates, among others.
Article 18 The RA review operation post shall take charge of reviewing the organization certificates of ECDS participants in the ECDS, among others.
Article 19 The RA entry operation post be responsible for the preliminary examination, entry, production and cancellation of the organization certificates of ECDS participants in the ECDS, among others.
Article 20 The digital certificate administration post shall take charge of certificate downloading, the change of the management keys and passwords of certificates, and the setting of certificate saving paths, among others.
Article 21 Where a person at a post is to be changed, he or she shall undergo the handover procedures for the change of the post, and user shall be cancelled in the system in a timely manner.
Chapter III Operations Management
Article 22 Shanghai Commercial Paper Exchange shall, in consideration of its actual circumstances, develop and strictly implement the business operations management system and operating instructions for the ECDS, and effectively make relevant records.
Single front-end processor operation and maintenance departments shall develop corresponding operating instructions for the ECDS and report them to Shanghai Commercial Paper Exchange for recordation.
Article 23 Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall strictly abide by the provisions on the running time of the ECDS.
To adjust the running time of the ECDS, Shanghai Commercial Paper Exchange shall notify ECDS participants at least 3 system working days in advance.
Article 24 A single front-end processor operation and maintenance department may not log out during the business hours without the approval of Shanghai Commercial Paper Exchange.
Article 25 Shanghai Commercial Paper Exchange shall operate the following matters in accordance with the relevant provisions:
(1) Basic data import.
(2) Setting the business authority of ECDS participants.
(3) Setting the correspondence between CCPCs and access points.
(4) Setting the correspondence between access points and ECDS participants.
(5) Setting the undertaking relationships between ECDS participants.
(6) Setting charging rates.
(7) Setting the online retention periods for business data.
(8) Setting the initial users of rediscounting system administrators and business supervisors for the accounting business department of the PBC.
(9) Setting other business parameters required.
Article 26 The personnel at all posts of Shanghai Commercial Paper Exchange shall, during the system operation period, monitor the system operation status and fill out system operation logs.
Any abnormality such as failure to log into the system on time, loss of message, and failure in downloading day-end business verification information shall be handled in accordance with relevant provisions.
Article 27 Shanghai Commercial Paper Exchange shall conduct statistical monitoring of the failure to send an acknowledgement of receipt in a timely manner after receiving the order of presentation for payment, abnormal organization code, the ECD payment credit information and the operating condition of the system.
Article 28 The bank names and bank codes in the ECDS shall be administered and maintained in a unified manner by Shanghai Commercial Paper Exchange in accordance with the relevant provisions of the PBC, and bank names and bank codes and other basic data may be offered to single front-end processor operation and maintenance departments as needed.
Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall not add, change or delete the bank names and bank codes without authorization.
ECDS participants shall declare in a timely manner the undertaking relationships of their bank names and bank codes which shall be changed after being reviewed by shanghai Commercial Paper Exchange.
Article 29 Shanghai Commercial Paper Exchange shall, based on the abnormal organization code information prompted by the system, notify the relevant single front-end processor operation and maintenance department to handle it.
Article 30 Shanghai Commercial Paper Exchange shall conduct the operations of exporting and re-sending draft information in accordance with the relevant requirements.
Article 31 Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall strengthen the administration of system users, and the initial users of the system shall be cancelled after the system is put into operation.
Article 32 Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall handle all pending business matters in a timely manner to ensure that handling of all pending business matters is completed before on the end of the day.
Chapter IV Maintenance Management
Article 33 Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall, in light of the actual circumstances of their entities (or departments), develop the maintenance management system and routine inspection procedures for the ECDS, complete routine inspections and system maintenance according to the procedures and record maintenance logs, and handle all system abnormalities they found as required.
The management of maintenance of shared equipment shall avoid affecting the normal operation of other business systems.
Article 34 Shanghai Commercial Paper Exchange shall, as authorized by the PBC, conduct the unified administration of the application software versions of the ECDS.
Article 35 Shanghai Commercial Paper Exchange shall develop the management rules for maintaining relevant hardware and software of the ECDS, and strictly organize the implementation thereof.
Article 36 To conduct the following operation and maintenance work related to the ECDS, single front-end processor operation and maintenance departments shall report to Shanghai Commercial Paper Exchange for approval in advance:
(1) Changing the relevant physical environments of the ECDS.
(2) Changing the relevant interface software of the ECDS.
Article 37 Where a single front-end processor operation and maintenance department needs to temporarily disconnect from the ECDS during the operation time of the system due to system maintenance or as needed by emergency drills, it shall report to Shanghai Commercial Paper Exchange for recordation ten working days in advance. If the single front-end processor operation and maintenance department needs to conduct system maintenance or emergency drills during non-operation time of the system, it shall report to Shanghai Commercial Paper Exchange for recordation five working days in advance. Materials submitted for recordation shall include:
(1) A written report. The contents of the report shall include the reasons for system maintenance or emergency drills, the business impacts on itself and other ECDS participants, work arrangements and other matters requiring the support of Shanghai Commercial Paper Exchange.
(2) System Operation and Maintenance Report Form for Electronic Commercial Draft System Participants (see Attachment).
Article 38 Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall conduct system backup and data backup of computer systems and network systems on a regular basis, and fill out the backup records.
Article 39 Where Shanghai Commercial Paper Exchange or any single front-end processor operation and maintenance department is to hire outsiders to inspect and maintain the system, it shall get approval from the person in charge of the department, and the inspection and maintenance process shall be accompanied by the system maintenance personnel and the inspection and maintenance recordation shall be made effectively.
Article 40 Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall respectively work out ECDS emergency plans and escalate them for recordation, rehearse the plans and test the backup system at regular intervals, and effectively make records for future reference.
Chapter V Security Management
Article 41 For the purpose of ensuring the security of business and certificates, all users of the ECDS shall be subject to strict rights administration, and the relevant operations shall follow the “double-signature” principle.
Article 42 An operator shall, after receiving a user ID, immediately log into the system and modify the user password which shall only be used by the operator himself or herself and shall not be leaked; and the operator is prohibited from using an unmodified password for business operations.
A user ID can only be assigned to one operator, and an operator can only have a unique user ID.
A user password shall be complex to a certain degree, and be changed at least once every quarter. When the operator forgets the password, he or she shall immediately report to the primary person in charge. Upon approval by the primary person in charge, the system administrator shall reset the password and effectively make records for future reference.
Article 43 An operator shall operate within the prescribed user privilege and is prohibited from conducting operations that are not related to the business; and shall log out before leaving his or her operation post.
Article 44 The ECDS shall use the electronic signatures based on Public Key Infrastructure (“PKI”) to ensure the integrity and non-repudiation of business data.
Article 45 Shanghai Commercial Paper Exchange shall authorize professional and legal digital certificate certification authorities to be responsible for the unified administration of digital certificates.
Article 46 The certificates of the RA administrators of the NPC shall be generated by the digital certificate certification authorities, and be kept by the RA administrators themselves.
Shanghai Commercial Paper Exchange shall take charge of creating the RA administrators and RA operators of the ECDS, and provide ECDS participants with certificate renewal and other services.
Article 47 Shanghai Commercial Paper Exchange shall take charge of the application for and the reissuance, renewal, revocation and freezing of the user certificates of ECDS participants and other management operations.
Article 48 ECDS participants must properly keep the end-user certificates containing private keys and private key passphrases. If an ECDS participant finds that any end-user certificate file containing a private key or an USBKey is lost or illegally copied, or a private key passphrase is lost, it shall report to Shanghai Commercial Paper Exchange in a timely manner.
Article 49 When connecting to any system other than the payment system, the ECDS shall, in accordance with the relevant provisions issued by the PBC, take necessary technical isolation and protection measures.
Article 50 The virus prevention of the ECDS shall comply with the provisions issued by the PBC, and anti-virus programs shall be installed on the system and be upgraded in a timely manner; virus scanning shall be made on external data; and virus shall be scanned at regular intervals, and any virus found shall be dealt with immediately and escalated for recordation.
Article 51 It is prohibited to conduct development and trainings on production equipment and the backup system or use storage media not exclusive for systems.
Article 52 No entity or individual may leak the parameters, configuration information, draft business information or account information of the computer system and the network system.
When a system device needs to be sent to an outside party for repair due to any fault, necessary backup shall be made, and data shall be cleared in a professional way.
Article 53 Where Shanghai Commercial Paper Exchange or any single front-end processor operation and maintenance department needs to change the backend business data under any special circumstance, the change shall be implemented jointly by at least two system maintenance personnel with the consent of the business supervisor of the entity and upon approval by the person in charge of the entity, and detailed records shall be made. The business supervisor shall verify the business data after the change in a timely manner and report to the person in charge of the entity and the competent department at the next higher level.
Chapter VI Computer Room Management
Article 54 The computer room of the ECDS of Shanghai Commercial Paper Exchange shall comply with the building standards of the state and the provisions on the administration of computer rooms issued by the PBC.
Single front-end processor operation and maintenance departments shall comply with the construction standards of the state and the provisions on the administration of computer rooms set out by their respective entities (or departments).
Article 55 ECDS computer room management departments shall develop relevant rules on computer room management, access control system management and entry and exit approval and registration, among others, which shall be observed and implemented by operation and maintenance departments.
Article 56 Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall keep computer rooms clean, tidy and orderly, and shall not bring flammable, explosive, corrosive and other dangerous articles and articles unrelated to system operation to computer rooms; and shall not use naked fire or equipment that may affect system operation in computer rooms.
Article 57 Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall ensure that computer rooms are equipped with complete power supplies and grounding lines and have reasonable UPS load configuration, and the power supplies and power switches of the main equipment and the network equipment of the system are marked with conspicuous alarm signs or protection measures for forbidding operations.
Article 58 The storage media of external computers may not be used in the computer rooms of the ECDS without permission. External computers and electronic devices may not use the power supplies for equipment in computer rooms.
Article 59 The 24-hour video surveillance recording devices shall be installed in the areas where computer rooms of the ECDS are located, and there shall be security guards on duty around the clock in important zones of computer rooms. Data on the running of access control systems and video monitoring equipment shall be properly saved for not less than 90 days.
Article 60 The computer rooms of the ECDS shall be subject to closed-off management, and one main entrance/exit and one or more alternate entrances/exits shall be set up.
Chapter VII Equipment Management
Article 61 The equipment of the ECDS shall include computer equipment, network equipment, safety equipment and site equipment, among others. Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall designate special persons to manage the equipment of the ECDS, establish archives and check them up at regular intervals to ensure that the archives are consistent with the actual situation of the equipment and equipment is not used for any other purpose.
Article 62 The equipment of the ECDS shall comply with the relevant technical specifications and security requirements set forth by the state and the PBC.
Article 63 The equipment of the ECDS shall be inspected and maintained on a regular basis in accordance with the technical specifications developed by the state and the PBC, and records thereon shall be made effectively to ensure the stable operation of production equipment and the availability of backup equipment.
Article 64 Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall take necessary security protection measures for the ECDS equipment, and develop sound access control strategies to prevent unauthorized use of equipment or information.
Article 65 The computer rooms of the ECDS shall be equipped with appropriate quantities of fax machines and program-controlled telephones to meet the needs of system operation.
Chapter VIII Document Management
Article 66 ECDS running documents shall include technical materials, operations manuals, operation and maintenance manuals, and various paper information and storage media information generated during the running of the system, among others.
Article 67 Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall designate special persons to be responsible for putting documents into archives for safekeeping, and establish document registers. Archivists shall undergo the handing-over formalities for relevant materials before leaving their posts.
Article 68 Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall properly keep the ECDS running documents, and make sure that they are fire-proof, theft-proof, anti-magnetic, damp-proof and mothproof.
Article 69 Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall check and back up on a regular basis documents in the form of storage media to prevent losses of materials due to damages of the storage media.
Article 70 Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall strictly implement the document consultation and borrowing registration system, and forbidden the private and unauthorized copying and lending of ECDS running documents.
Article 71 The period for preservation of ECDS running documents shall be determined by reference to that for accounting archives.
Article 72 Abandoned or expired ECDS running documents shall be destroyed by reference to the measures for the administration of accounting archives.
Chapter IX Failure Management
Article 73 In case of any technical failure of the NPC, a CCPC or a single front-end processor of the ECDS, its operation and maintenance department shall handle the failure under the principles of “reporting and handling in a timely manner, and recovering the system operation as soon as possible.”
Article 74 In case of any technical failure of a single front-end processor, its operation and maintenance department shall report it to Shanghai Commercial Paper Exchange.
Article 75 In case of any technical failure of the NPC or a CCPC, Shanghai Commercial Paper Exchange shall, according to the impacts of the failure, notify relevant ECDS participants in a timely manner, and report to the PBC.
Article 76 In case of any technical failure of the ECDS, the contents reported shall be true and accurate, and no concealment or omission is allowed.
Article 77 The faults of the ECDS are divided into conventional faults and non-conventional faults:
(1) “Conventional faults” means the faults whose symptom and clearing methods are expressly described in the existing ECDS running documents.
(2) “Non-conventional faults” means the faults whose symptom and clearing methods are not described in the existing ECDS running documents.
Article 78 In case of any conventional system fault of the NPC, a CCPC or a single front-end processor of the ECDS, its system maintenance personnel shall handle it according to the fault handling provisions and troubleshooting methods.
Article 79 In case of any non-conventional system fault of the NPC, a CCPC or a single front-end processor of the ECDS, its operator shall immediately record or copy the equipment prompt message, report the fault symptom to the personnel at the next higher post and transfer fault to system maintenance personnel for troubleshooting. If the fault cannot be cleared in a short time, the operator shall ask for technical support from the relevant entity or department or initiate the emergency plan in accordance with the relevant provisions.
Article 80 The technical personnel participating in the troubleshooting shall not make a query of, call, modify or copy the business data without the approval of the persons in charge of their entities (or departments). If external technical support is required for troubleshooting, or any person not subject to this entity (or department) needs to operate on the production system during the troubleshooting, the written approval of the person in charge of the entity (or department) shall be obtained, the operation process shall be accompanied and supported by system maintenance personnel, and records thereon shall made effectively for future reference.
Article 81 In case of any failure of the ECDS, Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall cooperate with each other to eliminate the failure. If necessary, external resources shall be arranged for to support remote or on-site technical support.
After the troubleshooting, Shanghai Commercial Paper Exchange and single front-end processor operation and maintenance departments shall record the fault time, fault symptom, fault handling, analysis results and expert advices (if necessary), and shall prepare fault handling and analysis reports for major technical faults.
Article 82 The disclosure of any ECDS failure and handling thereof shall comply with the relevant provisions issued by the state. No entity or individual may disclose the information on any failure of the ECDS without approval.
Chapter X Discipline and Responsibility
Article 83 ECDS operation and maintenance departments shall abide by these Measures and other relevant provisions, strengthen internal control management, and establish and improve the emergency response mechanisms to ensure the safe and stable operation of the system and normal business processing.
Article 84 Where an ECDS operation and maintenance department modifies the basic data of the ECDS without authorization, causing no fund loss, the relevant persons liable shall be held administratively liable; and if any fund loss is caused, relevant party liable shall be held civilly liable in accordance with the law; and whoever is suspected of a crime shall be transferred to the judicial authority for punishment in accordance with the law.
Article 85 If an ECDS operation and maintenance department fails to take effective information security prevention measures, affecting the safe and stable operation of the ECDS, the relevant parties shall be held liable.
Article 86 Where any staff member of an operation and maintenance department of the ECDS neglects his or her duties or makes a major mistake, causing any fund loss, he or she shall be held administratively liable in accordance with the relevant provisions; if the staff member misappropriates any draft or embezzles any funds by forging or altering basic business data, he or she shall be held administratively and civilly liable as required; and whoever is suspected of a crime shall be transferred to the judicial authority for punishment in accordance with the law.
Article 87 The staff members of operation and maintenance departments of the ECDS shall perform the duties of keeping secrets, and shall not consult and divulge relevant information without authorization. Whoever violates the relevant provisions shall be held administratively liable accordingly; and if the circumstances are serious and the violator is suspected of a crime, he or she shall be transferred to the judicial authority for punishment in accordance with the law.
Article 88 Where an ECDS participant falls under any of the following circumstances, Shanghai Commercial Paper Exchange shall circulate a notice thereof as required; and, if the circumstances are serious, may force it to exit from the ECDS, and report to the PBC:
(1) It logs out during business operation without the approval of Shanghai Commercial Paper Exchange.
(2) It changes the relevant physical environment or interface software of the ECDS without the approval of Shanghai Commercial Paper Exchange.
(3) It fails to report its system maintenance of emergency drills to Shanghai Commercial Paper Exchange for recordation or do so during the specified period.
(4) It adds, changes or deletes any bank name or bank code without authorization.
(5) It conducts development, testing or training on the ECD production or backup system.
(6) When a single front-end processor fails, it fails to report to Shanghai Commercial Paper Exchange in a timely manner, or the contents reported are untrue or inaccurate, or it conceals or omits any information in reporting, among others.
(7) It fails to establish a business undertaking relationship as required before quitting the ECDS.
(8) Any other circumstance violating the provisions on the administration of the operation of the ECDS.
Chapter VI Supplemental Provisions
Article 89 These Measures shall be subject to interpretation and revision by the PBC.
Article 90 These Measures shall come into force on the date of issuance.
Attachment: System Operation and Maintenance Report Form for Electronic Commercial Draft System Participants
Attachment
System Operation and Maintenance Report Form for Electronic Commercial Draft System Participants
Reporting Entity: Reporting Time: DD/MM/YYYY
Starting and Ending Time of Operation and Maintenance |
Form o'clock on DD/MM/YYYY to o'clock on DD/MM/YYYY |
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Reporter: |
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Contact Phone Number: |
Fixed Telephone Number: |
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Mobile Phone Number: |
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Business Contact Person: |
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Contact Phone Number: |
Fixed Telephone Number: |
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Mobile Phone Number: |
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Technical Contact Person: |
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Contact Phone Number: |
Fixed Telephone Number: |
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Mobile Phone Number: |
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Change Type |
□ Network change □ System change □ Emergency drill □ Others _____________ |
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Access Point Number |
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Reported Matters |
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Business Impact Descriptions |
Such as impacts on itself or on the acceptance upon maturity of the drafts accepted by enterprises opening accounts during the period of disconnection, among others. |
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Matters Requiring the Support of Shanghai Commercial Paper Exchange |
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Opinion of the Person-in-Charge |
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Signature of the Person-in-Charge |
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(Seal of the Entity) |
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DD/MM/YYYY |
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Annex 3
Measures for the Administration of the Digital Certificates for the Electronic Commercial Draft System
Chapter I General Provisions
Article 1 For the purposes of regulating the administration of digital certificates for the Electronic Commercial Draft System (“ECDS”), and guaranteeing the security of data transmission, these Measures are developed in accordance with the Measures for the Administration of Electronic Commercial Draft Business (Issued by Order No. 2 [2009], PBC) and other provisions.
Article 2 For the purposes of realizing the electronic signatures of electronic commercial drafts (“DCRs”) and the non-repudiation and integrity in the process of data transmission and exchange, and guaranteeing the security of system transactions, the Public Key Infrastructure (“PKI”) mechanism shall be adopted between the ECDS and ECDS participants, and security certification services shall be provided with the digital certificates issued by China Financial Certification Authority (hereinafter referred to as “CFCA”), a third-party certification authority.
These Measures shall not apply to the administration of the digital certificates used between ECDS participants and customers.
Article 3 Shanghai Commercial Paper Exchange Corporation Ltd. (hereinafter referred to as “Shanghai Commercial Paper Exchange”) shall take charge of establishing the Registration Authority, hereinafter referred to as the “RA”) for digital certificates. The RA shall be connected to CFCA through dedicated lines.
Article 4 The RA is a certificate registration review authority authorized by CFCA, which extends the scope of certificate issuance and administration by CFCA, and is responsible for the administration of certificates of certificate applicants.
Article 5 Certificate administration operations shall include certificate application, issuance, revocation, reissuance, renewal, freezing and unfreezing, among others.
Article 6 The RA's business acceptance time shall be consistent with the statutory working hours prescribed by the state.
Article 7 The RA shall establish the posts of administrator, entry operator, review operator. ECDS participants shall establish certificate administration posts according to the circumstances o their institutions.
Article 8 Both a person at the certificate administration post of the RA and an ECDS participant need to apply for a digital certificate. RA implements the system of “one person, one certificate,” and ECDS participants subordinate to the same incorporated institution may share a digital certificate.
Article 9 The digital certificates of administrators, entry operators, and review operators of the RA shall be stored in USBKey, and the digital certificates of ECDS participants shall be stored in certificate files or USBKey.
Article 10 An ECDS participant shall, when processing any ECD business, digitally sign the relevant draft with its digital certificate. The nodes at all levels of the ECDS shall, when receiving the business, verify the signature. If the signature fails to pass the verification, it shall be handled in accordance with the relevant provisions.
Article 11 A digital certificate shall be valid for three years, and certificate service fees for three years shall be charged when a digital certificate is issued or renewed.
Chapter II Post Duties
Article 12 Duties of a RA administrator:
(1) Collecting and saving the certificate application forms of RA entry operators and RA review operators.
(2) Issuing and administering the certificates of RA entry operators and RA review operators, generating the reference number and authorization code (hereinafter referred to as “two codes”), and assigning two codes to RA entry operators and RA review operators by specific means, and conducting registration administration.
(3) Managing the operations privileges of RA entry operators and RA review operators.
Article 13 Duties of a RA entry operator:
(1) Entering the certificate applications of the ECDS participants verified.
(2) Entering the applications for certificate administration operations of the ECDS participants verified.
Article 14 The duties of a RA review operator:
(1) Collecting and saving certificate application forms and batch input documents of the ECDS participants verified.
(2) Reviewing the certificate applications and certificate administration operation applications of ECDS participants, generating two codes and assigning them to the certificate administrators of ECDS participants, and conducting registration administration.
(3) Making a query and statistics of information on certificates of all ECDS participants.
(4) Monitoring the certificate administration operations of all ECDS participants.
Article 15 Duties of a certificate administrator of an ECDS participant:
(1) Submitting the Certificate Application Form of an Electronic Commerce Draft System Participant (Attachment 1), the Batch Input Document for an Electronic Commerce Draft System Participant (Attachment 2) and the Certificate Administration Form for an Electronic Commerce Draft System Participant (Attachment 3) of this institution to the corporate body which shall then submit the application to Shanghai Commercial Paper Exchange.
(2) Receiving from the corporate body the two codes issued by Shanghai Commercial Paper Exchange.
(3) Visiting the website of CFCA, entering the two codes, setting the digital certificate password, and downloading the digital certificate file of this institution.
(4) Keeping the digital certificate file, and installing and using the digital certificate.
(5) Modifying the digital certificate password on a regular basis.
Chapter III Certificate Administration
Article 16 The process for issuing a certificate to an ECDS participant:
(1) An ECDS participant shall complete the Certificate Application Form of an Electronic Commercial Draft System Participant, and deliver it to its corporate body to affix the seal of the corporate body thereto; and, at the same time, complete the Batch Input Document for an Electronic Commercial Draft System Participant (Excel Format), and submit it to Shanghai Commercial Paper Exchange through its corporate body.
(2) After Shanghai Commercial Paper Exchange has examined and confirmed the Certificate Application Form of an Electronic Commercial Draft System Participant and the summary electronic data file in Excel format, the RA entry operator shall enter the information on the ECDS participant's application. At the time of information entry, both the batch input of the summary electronic data file in Excel format and the direct entry of information of the Certificate Application Form of an Electronic Commercial Draft System Participant are allowed.
(3) The RA review operator shall review the entered information. Where the information passes the review, the RA review operator shall general two codes.
(4) The RA review operator shall assign the two codes to the corporate body subordinate to the ECDS participant by specific means.
(5) The certificate administrator of the ECDS participant shall, after receiving the two codes from the corporate body, visit the website of CFCA, enter the two codes, set the digital certificate password, and download the digital certificate file.
Article 17 Where an ECDS participant that exits from the ECDS has its private key leaked or its certificate file lost, it may apply for the revocation of the certificate.
The process for revoking the certificate of an ECDS participant:
(1) The certificate administrator of the ECDS participant shall fill out the Certificate Administration Form for an Electronic Commercial Draft System Participant, which shall, after being sealed by the corporate body, be submitted to Shanghai Commercial Paper Exchange.
(2) The RA entry operator shall enter the information on the certificate revocation application made by the ECDS participant, and the RA review operator shall review the information entered. If the information passes the review, the RA review operator shall revoke the certificate.
Article 18 In case the password of a certificate is forgotten, a private key is leaked, a certificate file is lost or damaged, or under any other circumstance, an application for the reissuance of a certificate may be made. The validity period of the certificate reissued shall as same as that of the former one, and the former certificate shall be revoked automatically after the reissuance.
The process for reissuing a certificate to an ECDS participant:
(1) The certificate administrator of the ECDS participant shall fill out the Certificate Administration Form for an Electronic Commercial Draft System Participant, which shall, after being sealed by the corporate body, be submitted to Shanghai Commercial Paper Exchange.
(2) The RA entry operator shall enter the information on the certificate reissuance application made by the ECDS participant, and the RA review operator shall review the information entered, and generate two codes after the information passes the review.
(3) The RA review operator shall assign the two codes to the corporate body of the ECDS participant by specific means.
(4) The certificate administrator of the ECDS participant shall, after receiving the two codes from the corporate body, visit the website of CFCA, enter the two codes, set the digital certificate password, and download the new digital certificate file.
Article 19 If a certificate is about to expire or has expired, an application shall be made for renewing the certificate. After the renewal, the former certificate shall be revoked automatically.
The processing for the certificate renewal of an ECDS participant:
(1) The certificate administrator of the ECDS participant shall fill out the Certificate Administration Form for an Electronic Commercial Draft System Participant, which shall, after being sealed by the corporate body, be submitted to Shanghai Commercial Paper Exchange.
(2) The RA entry operator shall enter the information on the certificate renewal application made by the ECDS participant. The RA review operator shall review the information entered, and generate two codes if the information passes the review.
(3) The RA review operator shall assign two codes to the corporate body subordinate to the ECDS participant by specific means.
(4) The certificate administrator of the ECDS participant shall, after receiving the two codes from the corporate body, visit the website of CFCA, enter the two codes, set the digital certificate password, and download the new digital certificate file.
Article 20 If a certificate is found not in normal use, the certificate may be frozen.
The process for freezing the certificate of an ECDS participant:
(1) The Certificate Administration Form for an Electronic Commercial Draft System Participant shall be completed, and be submitted to Shanghai Commercial Paper Exchange after being sealed by the corporate body.
(2) The RA entry operator shall enter the information on the certificate freezing application made by the ECDS participant. The RA review operator shall review the information entered, and conduct the freezing operation if the information passes the review.
Article 21 If a frozen certificate meets the conditions for being reused, an application for unfreezing the certificate may be made.
The process for unfreezing the certificate of an ECDS participant:
(1) The certificate administrator of the ECDS participant shall fill out the Certificate Administration Form for an Electronic Commercial Draft System Participant, which shall, after being sealed by the corporate body, be submitted to Shanghai Commercial Paper Exchange.
(2) The RA entry operator shall enter the information on the certificate unfreezing application made by the ECDS participant. The RA review operator shall review the information entered, and conduct the unfreezing operation if the information passes the review.
Article 22 Certificate users shall properly keep their USBKey or certificate files, and may not lend them to others.
Article 23 RA administrators, RA entry operators, and RA review operators shall properly keep the certificate protection passwords, and may not divulge them.
Article 24 The certificate administrator of an ECDS participant must set a relatively complex certificate password with at least 12 digits, which shall contain numbers, uppercase and lowercase letters and special characters and be changed on a regular basis and shall not be leaked.
Article 25 Once the private key of its digital certificate is leaked or its digital certificate file is damaged or lost, an ECDS participant shall immediately report to Shanghai Commercial Paper Exchange, and apply for revoking the digital certificate or reissuing one under the certificate administration process.
Chapter VI Supplemental Provisions
Article 26 These Measures shall be subject to interpretation and revision by the PBC.
Article 27 These Measures shall come into force on the date of issuance.
Attachments: 1. Certificate Application Form of an Electronic Commerce Draft System Participant
2. Batch Input Document for an Electronic Commerce Draft System Participant (Excel Format)
3. Certificate Administration Form for an Electronic Commerce Draft System Participant (Attachment 3)
Attachment 1
Certificate Application Form of an Electronic Commerce Draft System Participant
Application Date |
DD/MM/YYYY |
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Information on an ECDS Participant |
Name of the Corporate Body subordinate to the ECDS Participant |
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Name of the ECDS Participant |
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Bank Code of the ECDS Participant |
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English Abbreviation of the ECDS Participant |
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Principal Person-in-Charge (Signature) |
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Address |
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Postal Code |
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(Seal of the Corporate Body) |
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Telephone |
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Fax |
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Information on the Contact |
Name (Signature) |
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Certificate Type |
□ Identity Card □Military Officer Certificate □ Exit-Entry Permit for Traveling to and from Hong Kong and Macao □ Passport □ Others, please indicate: |
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Certificate No. |
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E-mail |
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Telephone |
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The following part shall be completed by Shanghai Commercial Paper Exchange |
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Opinion of the Competent Business Department |
Review Opinion: □Approved □Rejected Reason for Rejection: |
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Signature of the Handling Person: Date: |
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Signature of the Person in charge of the Department: Date: |
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Opinion of the RA Department |
Review Opinion: □Approved □Rejected Reason for Rejection: |
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Signature of the RA Entry Operator: Date: |
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Signature of the RA Review Operator: Date: |
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Note: 1. If an enterprise does not have an English abbreviation, its pinyin abbreviation shall be filled in.
2. An applicant shall comply with the CPS (Certification Practice Statement) of CFCA and relevant certificate policies and management provisions, and pay the annual fees for certificate services of the CFCA while applying for a certificate.
3. CFCA is only responsible for the validity of the information entered in this form. As for any other information involved by the certificate during the application, it shall be examined separately or a relevant agreement shall be concluded.
Attachment 2
Batch Input Document for an Electronic Commerce Draft System Participant (Excel Format)
Certificate Type |
Certificate No. |
Enterprise Name |
English Abbreviation |
Address |
Telephone |
Email Address |
Way of assigning a reference number |
Way of assigning an authorization code |
Certificate Type |
Z |
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2 |
2 |
2 |
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Instructions for Filling out a Batch File
1. Certificate Type
The number corresponding to the certificate type shall be entered according to the DN standard. The bank code of the payment system shall entered by an ECDS participant as the certificate type, which is “Z.”
2. Certificate No.
The bank code of the payment system of an ECDS participant: It must be a 12-digit code consisting of only numbers.
3. English Abbreviation
Its length cannot exceed 40 bytes. Only letters and numbers can be entered.
4. Enterprise Name
The name of an ECDS participant, with the maximum length in Chinese or English of 40 bytes (one Chinese character occupies two bytes).
5. Address
The address of an ECDS participant, with the maximum length of 40 bytes (one Chinese character occupies two bytes).
6. Telephone
Contact phone number. Multiple phone numbers shall be separated by “,”.
7. Email Address
A certificate holder's email address, with the maximum length of 40 bytes (one Chinese character occupies two bytes) for the sending of two codes by email.
8. Way of assigning a reference number
“2” is entered for an ECDS participant.
9. Way of assigning an authorization code
“2” is entered for an ECDS participant
10. Certificate type
Ordinary certificate of an individual: 0
Advanced certificate of an individual: 1
Ordinary certificate of an enterprise: 2
Advanced certificate of an enterprise: 3
Web Server: 4
“2” is entered for the certificate of an ECDS participant
Attachment 3
Certificate Administration Form for an Electronic Commerce Draft System Participant
Application Date |
DD/MM/YYYY |
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Reasons for Certificate Administration |
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Certificate Administration Operation |
□Cancellation □Reissuance □ Renewal (Extension of the Period of Validity)□Freezing □Unfreezing |
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Information on an ECDS Participant |
Name of the Corporate Body subordinate the ECDS Participant |
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Name of the ECDS Participant |
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Bank Code of the ECDS Participant |
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English Abbreviation of the ECDS Participant |
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Principal Person-in-Charge (Signature) |
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Address |
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Postal Code |
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(Seal of the Corporate Body) |
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Telephone |
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Fax |
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Information on the Contact |
Name (Signature) |
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Certificate Type |
□ Identity Card □Military Officer Certificate □ Exit-Entry Permit for Traveling to and from Hong Kong and Macao □ Passport □ Others, please indicate: |
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Certificate No. |
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E-mail |
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Telephone |
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The following part shall be completed by Shanghai Commercial Paper Exchange |
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Opinion of the Competent Business Department |
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Note: 1. If an enterprise does not have an English abbreviation, its pinyin abbreviation shall be filled in.
2. An applicant shall comply with the CPS (Certification Practice Statement) of CFCA and relevant certificate policies and management provisions, and pay the annual fees for certificate services of the CFCA while applying for a certificate.
3. CFCA is only responsible for the validity of the information entered in this form. As for any other information involved by the certificate during the application, it shall be examined separately or a relevant agreement shall be concluded.
Annex 4
Crisis Intervention Plan for the Electronic Commercial Draft System
1 General Provisions
1.1 Purpose and Basis
(1) This Plan is developed for the purposes of improving the capabilities of responding to crises of the Electronic Commercial Draft System (“ECDS”), regulating the crisis intervention procedures of the ECDS, and ensuring the continuity of the electronic commercial draft (“ECD”) business and the security of social funds.
(2) This Plan is developed in accordance with the Law of the People's Republic of China on the People’s bank of China, the Measures for the Administration of Electronic Commercial Draft Business (Issued by Order No. 2 [2009], PBC), the Measures for the Administration of Emergency Response Plans of the People's Bank of China (Issued by Document No. 174 [2014], PBC) and other laws, regulations and rules.
1.2 Scope of Application
This Plan applies to the prevention, early warning, reporting and handling of ECDS crises by Shanghai Commercial Paper Exchange Corporation Ltd. (hereinafter referred to as “Shanghai Commercial Paper Exchange”) and ECDS participants.
1.3 Emergencies
1.3.1 Definition of emergencies
“ECDS emergencies” means unexpected natural disasters, accidents, public health incidents, social security incidents and other emergencies which affect the normal operation of the ECDS.
1.3.2 Classification of emergencies
ECDS emergencies are divided into ECDS crises and other emergencies.
For the purpose of this Plan, “ECDS crises” shall include the following three circumstances:
(1) The National Processing Center (“NPC”), a City Clearing Processing Center (“CCPC”) or a front-end processor of the ECDS breaks down or is invaded.
(2) Where the NPC of the ECDS encounters a serious failure, and is expected to return to normal operation after more than two hours or be unable to return to normal operation before the scheduled day-end handling time point of the ECDS, it shall be defined as a crisis.
Where a CCPC of the ECDS encounters a serious failure, and is expected to be unable to return to normal operation before the scheduled day-end handling time point of the ECDS, it shall be defined as a crisis.
Where a front-end processor of the ECDS encounters a serious failure, and is expected to be unable to return to normal operation before the scheduled day-end handling time point of the ECDS, it shall be defined as a crisis.
(3) Public health emergencies or social security incidents result in operational restrictions of available human resources, seriously affecting the normal handling of the relevant business of the ECDS.
This Plan mainly regulates the ECDS crisis intervention. Other emergencies may be handled in accordance with the Measures for the Administration of the Operation of the Electronic Commercial Draft System and other relevant provisions.
1.4 Crisis Intervention Principles
(1) Principle of business continuity. Effective measures shall be taken to ensure the continuity of the processing of ECD business.
(2) Principle of efficiency. Relevant measures shall be taken in a timely and prompt manner to minimize the possible losses and impacts incurred.
(3) Principle of data integrity. The business data lost shall be searched for as soon as possible to ensure data integrity and fund security.
(4) The principle of operability. Various intervention measures shall be realistic and operable.
1.5 Crisis Intervention Plan System
The crisis intervention plan system shall mainly include the following contents:
(1) Crisis intervention plan for the NPC.
(2) Crisis intervention plan for CCPCs.
(3) Relevant parts of the crisis intervention plan for ECDS participants.
This Plan mainly regulates the crisis handling for the NPC, CCPCs and single front-end processors of the ECDS. The crisis intervention plan for ECDS participants shall include the contents related to ECDS crisis intervention. If case of any inconsistency between the relevant contents of the crisis intervention plan for ECDS participants and relevant contents of this Plan, this Plan shall prevail.
2 Organization
2.1 Organization structuring
Crisis intervention organizations shall be set up under the principles of “quick responsiveness and efficient operation,” and in consideration of the characteristics of the ECDS.
2.1.1 Steering group for crisis intervention of Shanghai Commercial Paper Exchange
The Steering Group for Crisis Intervention of Shanghai Commercial Paper Exchange (hereinafter referred to as the “Steering Group of Shanghai Commercial Paper Exchange”) shall be the command and decision-making body for the ECDS crisis intervention, with the President of Shanghai Commercial Paper Exchange serving as its group leader and vice presidents in charge of business, technology and field work serving as its deputy group leaders, and consisting of persons of persons in charge of business, technology and field departments.
The Steering Group of Shanghai Commercial Paper Exchange shall establish under it an office headed by the person in charge of a technology department of Shanghai Commercial Paper Exchange and consisting of the relevant personnel of the business, technology and field departments of Shanghai Commercial Paper Exchange. In case of any change in members of the Steering Group of Shanghai Commercial Paper Exchange or the office of the steering group, it shall be reported to the PBC in a timely manner.
2.1.2 ECDS participants' crisis intervention steering groups
All ECDS participants shall establish through their corporate bodies the steering groups for ECDS crisis intervention (hereinafter referred to as “steering groups of ECDS participants”) headed by the persons in charge of specific work of the entities and consisting of persons in charge of relevant departments.
ECDS participants shall submit through their corporate bodies the lists of members of their steering groups to Shanghai Commercial Paper Exchange; and in case of any change in members of a steering group, it shall be reported to Shanghai Commercial Paper Exchange in a timely manner.
2.2 Functions of organizations
2.2.1 The main functions of the Steering Group of Shanghai Commercial Paper Exchange
(1) Researching and making decisions on the ECDS crisis intervention.
(2) Conducting the unified command of the ECDS crisis intervention work.
(3) Issuing the orders of starting and ending ECDS crisis intervention plans.
(4) Being responsible for the release of relevant information in a unified manner.
(5) Reporting to the PBC information on ECDS crises and the intervention thereof.
2.2.2 Main functions of the office of the Steering Group of Shanghai Commercial Paper Exchange
(1) Implementing the decisions of the Steering Group of Shanghai Commercial Paper Exchange.
(2) Coordinating with relevant entities in effectively conducting the ECDS crisis intervention work.
(3) Collecting information on the ECDS crisis intervention.
(4) Drafting relevant documents.
2.2.3 Main functions of the steering groups of ECDS participants
(1) Executing the orders on the ECDS crisis intervention issued by the Steering Group of Shanghai Commercial Paper Exchange.
(2) Reporting relevant information to Steering Group of Shanghai Commercial Paper Exchange in a timely manner.
(3) Making decisions on and commanding the crisis intervention regarding the relevant business systems of these entities.
3 Prevention and Early Warning
3.1 Definition of prevention mechanism
“Preventive mechanism” means the measures and actions taken in advance during the routine operation of the ECDS to prevent the occurrence of ECDS crises or minimize losses when a crisis arises.
3.1.1 Establishing and improving the disaster recovery system or mechanism
(1) Shanghai Commercial Paper Exchange shall study and establish the disaster backup system related to the ECDS, and conduct drills of the switch from the production environment to the disaster backup environment on a regular or irregular basis to ensure that a disaster backup system can be put into use quickly and efficiently when a crisis occurs.
(2) System participants shall establish and improve the disaster recovery mechanism related to the ECDS.
3.1.2 Establishing and improving the operation and maintenance mechanisms
ECDS operation departments shall, in accordance with provisions of the Measures for the Administration of the Electronic Commercial Draft System, operate and maintain the ECDS, conduct system backup and data backup for the computer systems and network systems of the ECDS to ensure the safe, stable and efficient operation of the ECDS.
3.1.3 Properly retaining and preserving relevant business materials
Shanghai Commercial Paper Exchange and ECDS participants shall, in accordance with relevant provisions, retain the business vouchers, business messages and relevant logs of the ECDS and other materials and information as the basis for business verification during crisis intervention.
3.1.4 Developing disaster comparison software
Shanghai Commercial Paper Exchange shall develop the disaster comparison software of the ECDS to ensure the obtainment of relevant messages of the ECDS during crisis intervention.
3.2 Definition of the early warning mechanism
“Early warning mechanism” means the prediction, analysis, assessment and handling in respect of the possibility of the occurrence of ECDS crises and the possible impacts caused.
3.2.1 Sources of early warning information
“Early warning information” is divided into information on abnormal system operation and information on external events.
(1) “Information on abnormal system operation” means the information on the abnormalities in the hardware equipment, application software, and communication network, among others, of the ECDS arising during its operation.
(2) “Information on external events” means natural disasters, accident disasters, unexpected public health incidents, unexpected social security incidents and other emergencies which may affect the normal operation of the ECDS.
3.2.2 Collection and reporting of early warning information
(1) The business departments and operation departments of the ECDS shall be responsible for collecting the information on abnormalities in system operation and reporting such information to the steering groups of these entities or their offices.
(2) The office of the Steering Group of Shanghai Commercial Paper Exchange shall be responsible for collecting information on external events and reporting such information to the Steering Group of Shanghai Commercial Paper Exchange.
3.2.3 Early warning information analysis and action
The office of the Steering Group of Shanghai Commercial Paper Exchange shall conduct analysis and assessment of early warning information in a timely manner. As for any ECDS crisis that is very likely to occur, it shall notify relevant entities to strengthen prevention and keep close monitoring in a timely manner, and make good preparation for crisis intervention.
4 Reporting and Steering
4.1 Reporting
4.1.1 Requirement for reporting time
Relevant entities and departments shall report the relevant information to the office of the Steering Group of Shanghai Commercial Paper Exchange within half an hour at most after the occurrence of ECDS crises.
4.1.2 Reporting procedures
(1) In case of a crisis of the NPC or a CCPC of the ECDS, an operation department of the ECDS shall report to the office of the Steering Group of Shanghai Commercial Paper Exchange without delay.
(2) In case of any major failure in a front-end machine or the relevant business system of an ECDS participant, it shall be reported to the steering group of the ECDS participant which shall then report it to the Steering Group of Shanghai Commercial Paper Exchange.
(3) The Steering Group of Shanghai Commercial Paper Exchange shall report the relevant information to the PBC.
4.1.3 Reported contents
(1) The entity where a crisis occurs, and the time and location of the occurrence of the crisis.
(2) The nature and causes of the crisis. The natures of crises shall include application system failure, database failure, network failure, natural disaster, accident disaster, public health event, and social security incident, among others. If the causes of the crisis can be given, it shall be explained in detail.
(3) Extent of the impact of the crisis, including the degree and scope of the impact on the operation of the system after the crisis occurs, among others.
(4) On-site handling information, including the information on on-site organization and command, early-stage disposal measures, and system repairs, among others.
(5) Request to initiate a crisis intervention plan. A reporting entity shall make a request to initiate a crisis intervention plan according to the crisis situation.
4.1.4 Report form
A failure report shall be submitted in writing. In case of an emergency, a report may be made by way of telephone first before being submitted in writing.
4.2 Decision-making of a steering group
4.2.1 Decision-making principles
(1) Division of powers and responsibilities and hierarchical decision-making.
The intervention of a crisis of the NPC or a CCPC of the ECDS shall be subject to the decision-making of the Steering Group of Shanghai Commercial Paper Exchange. In case of a major failure in a front-end processor or the relevant business system of an ECDS participant, its steering group shall make its own decision on the intervention measures to be taken.
(2) Rapid response and research and decision-making.
After a crisis occurs, a steering group shall immediately convene a meeting for research and decision-making so as to resume the normal operation of the ECDS.
(3) Proper measures and decisive decision-making.
After a crisis occurs, a steering group shall make a decisive decision, and initiate the corresponding crisis intervention plan to minimize risks and losses.
4.2.2 Decision-making process
(1) Decision-making process for the Steering Group of Shanghai Commercial Paper Exchange.
After the ECDS encounters a crisis, Shanghai Commercial Paper Exchange shall immediately report to the PBC, and hold a meeting of the steering group to analyze the causes and impacts of the crisis and make a decision on the crisis intervention measures. If it is difficult to make a decision as the impacts of the crisis are so heavy, an expert meeting shall be organized immediately to conduct study, and, if necessary, it shall be reported to the PBC for decision-making.
(2) Decision-making process for the steering groups of ECDS participants.
In case of any major failure in a front-end processor or the business system of an ECDS participant, a steering group's meeting shall be held immediately to analyze the causes and impacts of the failure and make a decision on the crisis intervention measures.
4.3 Steering process
In case of a crisis of the NPC or an CCPC, the following processing procedures shall be followed:
(1) According to the decision of the Steering Group of Shanghai Commercial Paper Exchange, the office of the Steering Group of Shanghai Commercial Paper Exchange shall be responsible for communicating the order of initiating a crisis intervention plan to relevant business departments and technology and field departments of Steering Group of Shanghai Commercial Paper Exchange, and the steering groups of ECDS participants; directing and urging the relevant entities and departments to conscientiously perform their duties, and coordinating in business and technical disposition matters; and keeping abreast of the crisis intervention information.
(2) After receiving the order, the business departments of Shanghai Commercial Paper Exchange shall be responsible for coordinating in and directing the implementation of the business plans for crisis intervention; collecting and sorting out the information on crisis intervention in terms of business, and reporting such information to the Office of the Shanghai Commercial Paper Exchange; and adjusting the crisis intervention business plans in a timely manner in light of actual circumstances.
(3) After receiving the order, the technology departments of Shanghai Commercial Paper Exchange shall be responsible for coordinating in and directing the implementation of the technical solutions for crisis intervention by all entities; collecting and sorting out the information on crisis intervention in terms of technology, and reporting such information to the Office of the Shanghai Commercial Paper Exchange; and adjusting the business plans crisis intervention in a timely manner in light of actual circumstances.
(4) After receiving the order, the field departments of Shanghai Commercial Paper Exchange shall arrange for relevant personnel to operate based on the crisis intervention plan without delay; and report to the office of the Steering Group of Shanghai Commercial Paper Exchange the implementation of the emergency plan and the problems arising during the implementation, and put forward suggestions for improvement.
(5) After receiving the order, the steering groups of ECDS participants shall be responsible for the crisis intervention work of their entities, report to the Steering Group of Shanghai Commercial Paper Exchange the implementation of the emergency plan and the problems arising during the implementation, and put forward suggestions for improvement.
(6) The office of the Steering Group of Shanghai Commercial Paper Exchange shall summarize and sort out the crisis intervention information reported by relevant business departments, technology departments and field departments of Shanghai Commercial Paper Exchange and the steering groups of ECDS participants, and report to the Steering Group of Shanghai Commercial Paper Exchange.
(7) The Steering Group of Shanghai Commercial Paper Exchange shall conduct analysis and make a decision based on the information reported; and issue an End order after confirming the end of the crisis intervention.
(8) The Steering Group of Shanghai Commercial Paper Exchange shall summarize and sort out the crisis intervention information and results, and report them to the PBC.
Where any major event occurs, the Steering Group of Shanghai Commercial Paper Exchange shall report to the PBC in a timely manner.
5 Crisis Intervention Plan
5.1 Specific crisis intervention plans
The NPC and CCPCs of the ECDS and ECDS participants shall, based on the orders of the Steering Group of Shanghai Commercial Paper Exchange to initiate relevant crisis intervention plans, implement the corresponding crisis intervention plans.
5.1.1 Intervention of the crises of the NPC of the ECDS
The NPC of the ECDS is the core node of the ECDS (hereinafter referred to as the “core node”), and any major failure of the core node will affect the normal business handling of all ECDS participants.
5.1.1.1 Disposition of major failures of the core node
The major failures of the core node are classified into major application system failures and major database failures. A “major application system failure of core node” means that the core node cannot continue to accept ECD business due to any major failure in network, computer hardware, or software. A “major database system failure of the core node” means that both business data and system control data of the core node are both destroyed.
The basic handling process and methods after the occurrence of a major failure of the core node are as follows.
(1) Conducting technical treatment.
In case of a major application system failure or a major database failure of the core node, the technology departments of the ECDS of Shanghai Commercial Paper Exchange shall conduct the technical treatment immediately. During the treatment period, the NPC of the ECDS shall suspend the acceptance of the new ECD business.
(2) Business emergency response.
After the occurrence of a major failure of the core node, the Steering Group of Shanghai Commercial Paper Exchange may announce the suspension of the ECDS. During the suspension of the system, the status of the NPC shall be set as “faulted”; all CCPCs shall broadcast to their subordinate access points “NPC and CCPC Status Change Message,” notify the NPC failure to all access points, and suspend the acceptance of all business initiated by ECDS participants.
(3) System emergency switch.
If the normal operation of the system cannot be recovered during a certain period of time, the Steering Group of Shanghai Commercial Paper Exchange shall decide whether to switch the system to the backup system of the ECDS for operation.
(4) Data recovery.
In case of any major database failure of the core node, the NPC of the ECDS shall recover the data saved before the occurrence of the failure through backup data or other methods; and process, according to specific circumstances, the data that has lost on the day when the failure occurs according to system status of the core node when the failure occurs after the database system is repaired and returned to normal operation and the data saved before the day when the failure occurs is recovered.
(5) System recovery and business recovery.
After the core node is repaired and returned to normal operation and all data has been recovered, the NPC of the ECDS shall adjust the system status of the core node to the correct one, verify the basic data and system status, and resume the system operation after they are verified correct.
The Steering Group of Shanghai Commercial Paper Exchange shall issue an order to resume the startup of the ECDS for the handling of ECD business, and notify CCPCs and ECDS participants through the “NPC and CCPC Status Change Message” and restore the status of the NPC to “Available,” and start accepting the business of that day sent by ECDS participants. At the same time, the “Working Day” attribute shall be modified at the NPC to change the attributes of all dates from the next working day (excluding the day) and the date of failure recovery (excluding the day) to holidays of the ECDS, and set the next working day after the failure date as a statutory holiday, and the cut-off for that day shall be conducted after all business of that day has been processed. After all business that is due on the next working day after the cut-off is processed, the date of the ECDS shall be switched to the failure recovery date. At this point, both the fault recovery and business recovery are completed.
If business can be recovered on the day of the failure date, cut-off can be conducted directly without changing the “Working Day” attribute.
5.1.2 Disposition of CCPCs of the ECDS
“Crises of CCPCs of the ECDS” means major failures in one or more CCPCs of the ECDS or the rediscounting systems under the CCPCs, seriously affecting the normal operation of business.
5.1.2.1 Disposition of major failures in the CCPCs of the ECDS
The basic disposition flow and methods for crises of the CCPCs of the ECDS are as follows.
(1) Conducting technical treatment.
In case of any major failure of a CCPC of the ECDS, the technology department of the ECDS of Shanghai Commercial Paper Exchange shall conduct the technical treatment immediately.
(2) Business emergency response.
In case of a major failure of a CCPC of the ECDS, the NPC shall set the status of the CCPC shall set at the core node the status of the CCPC as “faulted,” and notify all CCPCs and all ECDS participants through the “NPC and CCPC Status Change Message.” After receiving a notice of failure of the faulty CCPC, an available CCPC will refuse the business sent to the faulty CCPC. The business among available CCPCs shall not be affected, and the NPC can conduct the day-end processing normally.
Note: If a CCPC fails and cannot be restored to normal operation that day, some services of an ECDS participant under the faulty CCPC may become overdue because services cannot be initiated and received on the failure date though the specific due date of the services arrive. If such services exit, and must be completed that day, their access points may change to be affiliated to any other normal CCPC.
The message “Access Point Information Change Message (062)” concerning the correspondence between the access point and the CCPC shall be changed.
(3) System recovery and business recovery.
After the elimination of the failure in the CCPC of the ECDS, “NPC and CCPC Status Change Message” shall be broadcast through the NPC to adjust the status of the faulty CCPC to “available,” the basic data and system status shall be verified, and the system operation shall be resumed after no error is found upon verification.
Where a CCPC of the ECDS is returned to normal operation before the next working day, the CCPC that has returned to normal may continue to handle the relevant business, and reconciliation between the access points under the CCPC that fails and the NPC shall be conducted at the end of the day to keep data consistent.
Where a CCPC of the ECDS is returned to normal operation after the next working day, “NPC and CCPC Status Change Message” shall be broadcast through the NPC to adjust the status of the faulty CCPC as “available.” The system control messages sent to the CCPC during the period of failure can be automatically processed by the CCPC; and after they are successfully processed by the CCPC, the faulty CCPC will forward messages during the period of failure to its subordinate access points. Some messages failing to be processed unsuccessfully can be manually re-issued from the NPC, and the messages that subordinate access points do not receive may be forwarded by the CCPC to its access points after it is recovered as an available CCPC. At the end of the day, all access points under the faulty CCPC need conduct day-by-day reconciliation with the NPC to recover the services unprocessed on the day of failure and the messages issued due to draft status changes during the period of failure.
At this point, the faulty CCPC returns to a normal state, and can process business normally.
5.1.2.2 Disposition of major failures of the re-discounting system
The major failures of the rediscounting system are classified into major application system failures and major database failures. A “major application system failure of the rediscounting system” means that the system cannot continue to accept business due to any major failure in network, computer hardware, or software; and a “major database system failure” means that both business data and system control data are destroyed.
The basic handling process and methods after the occurrence of a major failure of the rediscounting system are as follows.
(1) Conducting technical treatment.
In case of a major application system failure or a major database failure of the rediscounting system, the technology departments of the ECDS of Shanghai Commercial Paper Exchange shall conduct the technical treatment immediately.
(2) Emergency business handling.
In case of any major failure of the rediscounting system, the field department of the ECDS of Shanghai Commercial Paper Exchange shall set at the core node the status of the rediscounting system as “Login Forbidden,” and cancel the access privileges of all ECDS participants under the access points of the rediscounting system.
(3) Data recovery.
In case of any major database failure of the rediscounting system, the technology and field departments of the ECDS shall, after the database system of the rediscounting system is repaired and returned to normal operation and the data before the date of the occurrence of the failure is recovered, restore the business data lost during the period of system failure based on the data of the core node. If the core node fails at the same time, in principle, the business data lost during the period of system failure shall be recovered based on the data of the core node after the database system of the core node returns to normal operation.
(4) System recovery and business recovery.
The technology and field departments of the ECDS of Shanghai Commercial Paper Exchange shall cancel at the core node the “Login Forbidden” status of the node of the rediscounting system after the failure of the rediscounting system is eliminated, and restore the reception privileges of all ECDS participants under the access points of the rediscounting system; and, after verifying the business data of the core node and the rediscounting system, resume the operation of the rediscounting system.
5.1.3 Handling of front-end system crises
A “front-end system crisis” means that the ECDS participants access the ECDS through the front-end processor system cannot normally handle the business due to major equipment or line failure, and the troubleshooting time exceeds the tolerable time.
The basic handling process and methods for a crisis of a front-end processor are as follows.
(1) Conducting technical treatment.
After the occurrence of a front-end processor system, the ECDS participants involving the crisis shall organize the implementation of technical treatment to restore the normal operation of the system as soon as possible.
(2) Business emergency response.
After confirming the occurrence of a failure, message middleware shall be disconnected as early as possible to ensure that the messages sent to the front-end processor can be blocked in the queue and not read out, and may continue to be processed after the failure is recovered.
(3) System recovery and business recovery.
After the failure of the front-end system is removed, the date shall be restored to the failure date; the basic data shall be exported from the CCPC and imported to the front-end processor; and, if no error is found upon verification, may resume the connection of message middleware to start the processing of the business during the failure period. After the failure is solved, the data of the NPC may be restored to the front-end process through the functions of monthly draft information verification or the disk file export at the NPC to ensure the consistency of the draft business.
5.1.4 Handling of major failures of ECDS participants
The basic handling process and methods for any major failure of an ECDS participant are as follows.
(1) Conducting technical treatment.
Once encountering a major failure, an ECDS participant shall immediately conduct the technical treatment. If assistance from Shanghai Commercial Paper Exchange is required, a request shall be made in a timely manner.
(2) Business emergency response.
Where an ECDS participant encounters any major failure, the field department of the ECDS of Shanghai Commercial Paper Exchange shall set at the core node the status of the access point for the ECDS participant as “Login Forbidden,” and, at the same time, cancel the reception privileges of all ECDS participants under this access point.
(3) System recovery and business recovery.
The technology and field departments of the ECDS of Shanghai Commercial Paper Exchange shall, after the system failure of the ECDS participant is eliminated, cancel at the core node the “Login Forbidden” status of the node for the ECDS participant, and resume the reception privileges of all ECDS participants under the access point for the ECDS participant; and, after verifying the business data of the core node and the rediscounting system, resume the operation of the rediscounting system. If all business data is lost, all draft data can be exported from the NPC to the banking institutions for data recovery.
5.1.5 Emergency response to public health emergencies and social security incidents
Shanghai Commercial Paper Exchange and ECDS participants shall be staffed with human resources in a scientific and reasonable manner to prevent the operational restrictions on various posts of the ECDS caused by public health emergencies and social security incidents. The NPC and CCPCs of the ECDS shall, according to the characteristics of public health emergencies and social security incidents, and in light of their actual circumstances, develop detailed emergency intervention plans for the ECDS.
5.2 Assessment and improvement
After the completion of crisis intervention, the office of the Steering Group of Shanghai Commercial Paper Exchange shall assess and improve crisis intervention plans.
(1) Arranging for relevant entities and departments to carefully analyze the causes of the crises of the ECDS.
(2) Assessing and summarizing the specific information on the ECDS crisis intervention.
(3) Summarizing the experience and lessons learned from the ECDS crisis intervention, and propose scientific and reasonable improvement measures.
(4) Supplementing and improving the ECDS crisis intervention plans to improve the scientificity, predictability and operability of the plans.
6 Emergency Guarantees
6.1 Personnel guarantee
There shall be backup personnel for key services and key technical posts of the ECDS, and the “Double-Position” system shall be implemented. After a crisis of the ECDS occurs, necessary preventative measures shall be taken to provide the personnel at key posts of the system with necessary working and living conditions to ensure their personal safety.
The contact information of the members of the steering groups of ECDS participants and their offices shall be true and effective.
6.2 System guarantee
ECDS participants shall, in accordance with the provisions of this Plan, develop the ECDS crisis intervention plans of their entities, establish and improve the internal control system for crisis intervention, prevent and control operational risks, and ensure fund security.
ECDS participants shall submit through their corporate bodies the ECDS crisis intervention plans of their entities to Shanghai Commercial Paper Exchange for recordation.
7 Plan Trainings and Drills
7.1 Plan trainings
Shanghai Commercial Paper Exchange shall organize the trainings on the ECDS crisis intervention in a unified manner.
7.2 Plan drills
Shanghai Commercial Paper Exchange shall organize at irregular intervals the drills on the Crisis Intervention Plan for the ECDS.
ECDS participants shall, in light of actual circumstances, conduct drills on the relevant contents of the Crisis Intervention Plan for the ECDS through trainings, simulation and other methods.
8 Supplemental Provisions
8.1 Information Release
In case of a crisis of the NPC or a CCPC of the ECDS, the Steering Group of Shanghai Commercial Paper Exchange shall issue the relevant information in a unified manner.
Where an ECDS participant cannot handle business normally due to any failure of its relevant internal system, it may release the information related to itself.
8.2 Plan Administration and Improvement
This Plan shall be subject to interpretation by the PBC, and its implementation shall be organized by Shanghai Commercial Paper Exchange.
The PBC shall, based on the building and development of the ECDS and according to the requirements for enhancing system management and preventing system risks, keep amending and improving this Plan.
8.3 Plan Implementation
This Plan shall come into force on the date of issuance.
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