# Policy and regulatory basis

Article 15 of the Administrative Measures for the Electronic Commercial Draft System

The Shanghai Bills Exchange shall, under the guidance of the People's Bank of China, accept and examine applications for entry, change and exit of system participants.

Article 17 of the Administrative Measures for the Electronic Commercial Draft System

When a financial institution joins the ECD system, it shall be handled by its legal person institution in accordance with the procedures of application, examination, implementation and accession.
"Application" refers to the act of a financial institution submitting a request in writing to the Shanghai Bills Exchange to join the ECD system in accordance with the provisions.
The term "examination" refers to the act of the Shanghai Bills Exchange of examining and approving the entry of financial institutions into the ECD system.
Implementation refers to the acts of financial institutions completing the preparatory work before their internal systems are connected to the ECD system in accordance with the relevant provisions. Accession refers to the formal access of financial institutions to the ECD system.

Article 18 of the Administrative Measures for the Electronic Commercial Draft System

Where a financial institution or its branch needs to join the ECD system, it shall file a written application as a legal person and follow the relevant provisions of the Shanghai Bills Exchange on the participation of system participants.
A financial institution that applies for centralized access and direct connection shall simultaneously submit a written opinion from the centralized access technical service institution that approves its use of access services.