Pursuant to the Article 15 of the Measures, an applicant for an indirect participant should meet the following requirements:

(1) Established in accordance with the law, possessing qualification of a legal person or being a banking financial institution designated by a legal person.

(2) Possessing good RMB settlement business capability.

(3) Having sound business, compliance, risk and system management systems.

(4) Having a good reputation.

Those that meet above requirements should entrust direct participants to submit the registration. After direct participants complete the review of the applicant, they submit Registry Form for CIPS Indirect Participant to the Company.

For those other than banking financial institutions applying to become indirect participants, they should contact the Company in advance through the direct participants to obtain additional material requirements.