The deadline has arrived - starting on July 1st, currency brokers will cease providing bond quotation services to institutions that have not signed a paid service agreement.

The People's Bank of China previously announced the "Interbank Market Brokerage Business Management Measures," which will be implemented starting from January 1, 2026. It mentions that for new mandates accepted after the implementation of these measures, brokerage firms should sign a service agreement as required. For mandates generated before the implementation of these measures, brokerage firms should supplement their service agreements with clients before July 1, 2026, and meet the conditions specified in these measures. Several brokerage firms, including Shanghai Guoli Monetary Brokerage Co., Ltd., have issued letters reminding the advancement of signing currency brokerage service agreements and fee schedules. They sincerely urge all companies to reach an agreement on the "Currency Brokerage Service Agreement" based on the principle of equality and mutual benefit as soon as possible and complete the signing process. Failure to sign in a timely manner may result in compliance risks for both parties when conducting related product brokerage business, and the normal continuation of subsequent services may also be affected. Article 21 of the "Regulations for the Management of Currency Brokerage Companies" by the China Banking and Insurance Regulatory Commission clearly stipulates that currency brokerage companies should sign service agreements with clients for brokerage services, stipulating service content, duration, fees, and other matters. Financial institutions should cooperate with currency brokerage companies to comply with relevant regulations and uphold market fairness and order.