In order to implement related requirements of the 8th PBOC Announcement in 2013, improve the management on interbank RMB market traders, regulate the practice of traders, and to promote market development, China Foreign Exchange Trade System (CFETS) initiates real-name policy on interbank RMB trading system since February 17, 2014. Main requirements as follows:

1. The policy is only applied to the frontline users, system administrators and middle and back office users are not covered.

2. The RMB trading system will be upgraded on February 14 after market closes.

3. In order to ensure effective implementation of the policy, 3 months from February 17 to May 16 are regarded as transition period.

4. Market member institutions should organize traders finishing real name registration as soon as possible during transition period.

5. Market member institutions should implement accordingly, or the market member institutions should take responsibility for any negative influence due to postponed registration or error information on trading.