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《每日基金》:债券代持这件事情,对于熟悉股票、不熟悉债券交易的投资者而言,比较难以理解,用简单的话介绍一下债券代持这件事的操作流程怎样,那个环节可能出问题。田熠:代持其实与回购类似,简单说就是我和你商量好了,我暂时先把我持有的债券以约定的价格卖给你,等到约定时间你再按之前说好的价格把债券卖还给我,我付给你一定的报酬。但两者不同的是,代持双方达成的是口头协议,没有法律效力,双方完全靠信用和协议来约束,到期交割时有可能代持方不予交割。而且由于债券交易代持行为的买卖往往办有不同的口头协议,而这种买卖行为又很难去区分监管,所以这个环节是容易出问题的。
“Daily Fund”: Bonds on behalf of this matter, for those familiar with the stock, investors are not familiar with bond trading, it is more difficult to understand, in a nutshell, how to introduce the bond holding operation of the matter how that link may be Problem. Tian Yi: On behalf of holding and repurchase in fact similar to the simple to say that I discuss with you well, I temporarily put the bond I hold at the agreed price to sell you, until the agreed time you press the good price The bond is sold back to me and I pay you a certain amount of money. However, the difference between the two is that the two sides reached a verbal agreement on behalf of both sides and they have no legal effect. The two sides are bound by credit and agreement and the delivery side may not deliver the goods on the due date. And because the trading of bond trading agents often have different verbal agreements, and it is very difficult to distinguish between the sale and purchase supervision, so this link is prone to problems.