Financial Infrastructure on vtoollabhttps://vtoollab.com/categories/financial-infrastructure/Recent content in Financial Infrastructure on vtoollabHugo -- gohugo.ioenadmin@vtoollab.com (vtoollab)admin@vtoollab.com (vtoollab)© 2026 vtoollabMon, 24 Aug 2026 16:00:00 +0800From Third-Party Custody to Broker Settlement: Two Leaps in Securities Fund Custody Systemshttps://vtoollab.com/posts/from-third-party-custody-to-broker-settlement/Mon, 24 Aug 2026 16:00:00 +0800admin@vtoollab.com (vtoollab)https://vtoollab.com/posts/from-third-party-custody-to-broker-settlement/China’s securities fund custody has undergone two leaps: the first (2004-2008) introduced bank-based third-party custody, completely eliminating broker misappropriation of client deposits; the second (2018-present) piloted and expanded the broker settlement model, upgrading from ‘retail protection’ to ‘institutional efficiency’. Together, these two leaps have shaped the new landscape of China’s securities fund custody.