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Collateral manager of the year: CCDC

Risk Asia Awards 2025

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The publication of China’s uncleared margin rules (UMR) earlier this year was hailed as yet another big milestone in the development of China’s derivatives market. China Central Depository & Clearing, the biggest collateral manager in the country, played a vital role.

Founded in 1996, CCDC is a central securities depository in China’s bond market where most of China’s interest rate bonds are held

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