Chen Tian Universe

Sep 9, 2025 · Fundamentals

Understanding the Three Fund Settlement Models in China’s Stock Markets

This article explains the three primary fund settlement models used in the Shanghai‑Shenzhen exchanges—custodian (bank) settlement, broker settlement, and the hybrid broker‑custodian (QFII‑like) settlement—detailing their processes, differences, regulatory selection rules, advantages, and the supporting technology platforms.