What are the principles of financial market infrastructure?
According to the Notice of the General Office of the People's Bank of China on Implementing Financial Market Infrastructure Principles, there are 24 financial market infrastructure principles, namely, legal basis, governance, comprehensive risk management framework, credit risk, collateral, margin, liquidity risk, settlement termination, monetary settlement, physical delivery, central securities depository, value exchange settlement system, rules and procedures for participants' breach of contract, separation and transfer, and general business. Custody risk and investment risk, operational risk, access and participation requirements, graded participation arrangement, connection of financial market infrastructure, efficiency and effectiveness, communication procedures and standards, rules, disclosure of key procedures and market data, and disclosure of market data in trading database.