6. CCP12 registers in Shanghai

The Global Association of Central Counterparties registers the association as a non-profit organization in the China (Shanghai) Pilot Free Trade Zone on June 8, 2016. [Photo provided to chinadaily.com.cn]

The Global Association of Central Counterparties (CCP12) registered in the China (Shanghai) Pilot Free Trade Zone as a non-profit organization on June 8, 2016. The association was formed in 2001 and has been working to further the industry's discussions on the adoption of the best clearing and risk management practices. It also supports strategic progress on regulatory harmonization and the achievement of global standards. Its arrival in Shanghai reflects China's progress in financial market development and risk prevention and has won international recognition.