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Central Bank of the Republic of China

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Who can participate in the Central Government Securities Settlement System (CGSS)?

Clearing banks are direct participants in the CGSS. They are obliged to maintain a securities account with Department of the Treasury, and a fund account with Department of Banking of the CBC. Both Department of Banking and Department of the Treasury of CBC also hold their own securities accounts for related operations. Investors of book-entry central government securities are indirect participants and are required to open a securities account and a cash account with clearing banks.
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