centralized trading system meaning in Chinese

集中交易系统

The basement of repo is close restriction system , clearing time arrangement system , chair clearing system , term structure system and standard security system , all of which are quite complex . the repo in exchange market is much more complicated than it face to face , because the legal relationship has been changed , so the legal relationship of repo is very complex . in centralized trading system , between the investor who in repo trading and the security company is trust relationship
回购交易的制度基础为封闭式约束制度、交易清算时间安排制度、主席位清算制度、期限结构安排及标准券制度,以上制度具有相当的复杂性,而集中交易市场中的国债回购又远远比一对一国债回购复杂,在许多方面改变了一对一国债回购的法律关系,因此,国债回购交易中,法律关系极为复杂。