Administrative Measures For The Futures Exchange

Original Language Title: 期货交易所管理办法

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(April 9, 2007 to 42nd, published since the China Securities Regulatory Commission as of April 15, 2007) Chapter I General provisions article in order to strengthen the supervision and management of the Futures Exchange, clear responsibilities of the Futures Exchange, maintaining the order of futures markets to promote actively and steadily develop the futures market, according to the futures trading management regulations, these measures are formulated.
    Second article this regulation is applicable in the People's Republic of China established within the territory of the Futures Exchange.
    Third Futures Exchange in these measures refers to in accordance with the regulations on futures trading and this approach provides for the establishment, not-for-profit, implementation of the futures trading management responsibilities under the Ordinance and these rules, in accordance with the regulations and rules to regulate management of the body corporate.
    Article fourth by the China Securities Regulatory Commission (hereinafter referred to as the China Securities Regulatory Commission) approved futures exchanges may adopt a membership system or the system's organization.
    Membership to the Futures Exchange's registered capital is divided into equal shares, funded by member contributions.
    Company Corporation of the Futures Exchange organization.
    Fifth the CSRC to centralize and unify the supervision and management of the Futures Exchange. Chapter II establishment, change and termination article sixth Futures Exchange, approved by the China Securities Regulatory Commission.
    Without permission, no unit or individual is allowed to set up futures exchanges or any form of organized futures trading and related activities. Seventh after the China Securities Regulatory Commission approved the establishment of futures exchanges shall be marked with "Exchange" or "Futures".
    No other units or individuals may use futures exchanges or similar names.
    Eighth article Futures Exchange except perform futures trading Management Ordinance provides of duties outside, also should perform following duties: (a) developed and implementation Futures Exchange of trading rules and implementation rules; (ii) released market information; (three) regulatory members and customer, and specified delivery warehouse, and Futures margin save tube Bank and the futures market other participants of futures business; (four) investigation violations behavior. Nineth article application established Futures Exchange, should to China SFC submitted following file and material: (a) applications; (ii) articles and trading rules draft; (three) Futures Exchange of business plans; (four) intends joined members or shareholders list; (five) Council members candidates or Board and Board of supervisors members list and the resume; (six) intends appointments senior management personnel of list and the resume; (seven) site, and equipment, and funds proved file and the situation description; (eight) China SFC provides of other file, and material
    。 Tenth Article Futures Exchange articles should contains Ming following matters: (a) established purpose and duties; (ii) name, and residence and business places; (three) registered capital and constitute; (four) business term; (five) Organization institutions of composition, and duties, and term and rules of procedure of the rules; (six) management personnel of produced, and appointment and duties; (seven) basic business system; (eight) risk reserves management system; (nine) financial accounting, and internal control system; (10) change, and terminated of conditions, and program and the
    The method for its liquidation; (11) constitutional amendment procedures; (12) need to be specified in the articles of other matters.
    11th except as provided in this article tenth of things, membership exchange regulation shall set out the following: (a) the membership and management; (b) the rights and obligations of members, and (iii) members of disciplinary action.
    12th article Futures Exchange trading rules should contains Ming following matters: (a) futures trading, and settlement and delivery system; (ii) risk management system and trading exception situation of processing program; (three) margin of management and using System; (four) futures trading information of released approach; (five) violations, and default behavior and processing approach; (six) trading disputes of processing way; (seven) need in trading rules in the contains ming of other matters.
    Corporate futures exchanges should also be in the trading rules set out in the provisions of article 11th.
    13th Futures Exchange changes its name, registered capital shall be approved by the China Securities Regulatory Commission.
    Article 14th merger or Division of a Futures Exchange, approved by the China Securities Regulatory Commission.
    Futures exchanges merged merger by absorption and merger by new establishment can be taken two ways, the creditor's rights and debts resulting from the combination of the parties prior to the merger acquired or inherited the new Futures Exchange.
    Separation of the Futures Exchange, after its creditor's rights and debts resulting from the Division of the inheritance of the Futures Exchange.
    15th Internet trading on the Futures Exchange, shall from the date of the decision in the 10th report of the China Securities Regulatory Commission.
    16th section without the approval of the China Securities Regulatory Commission, the Futures Exchange shall not establish a branch or any other futures exchanges.
    Dissolution of the 17th a futures exchange for one of the following: (a) the expiration term of operation under Regulation; (b) the Member or the general meeting of shareholders, the General Assembly decided to dissolve and (iii) the China Securities Regulatory Commission's decision to close.
    Futures exchanges by the preceding paragraph (a), (b) is dissolved, by the China Securities Regulatory Commission for approval.
    18th due to a merger, Division or dissolution of the Futures Exchange is terminated, shall be announced by the CSRC. Termination of futures exchanges, should set up a group to liquidate.
    Liquidation team to develop a liquidation plan shall be submitted to the China Securities Regulatory Commission for approval. Chapter III organizational member section members-Futures Exchange article 19th Futures Exchange was operated with membership of the General Assembly.
    Futures Exchange authority of the general meeting, by all the members. 20th article members Assembly exercise following terms: (a) validation Futures Exchange articles, and trading rules and modified draft; (ii) election and replaced members governing; (three) considered approved Council and General Manager of work report; (four) considered approved Futures Exchange of financial budget programme, and accounts report; (five) considered futures exchange risk reserves using situation; (six) decided increased or reduced Futures Exchange registered capital; (seven) decided Futures Exchange of merged, and Division, and dissolved and liquidation matters; (eight)
    Decision other significant matters to the Governing Council of the Futures Exchange, and (IX) other authorities prescribed by the articles of the Futures Exchange.
    21st General meeting convened by the Council, held once a year.
    Any of the following circumstances, it shall convene a provisional member of the General Assembly: (a) insufficient members Governing Futures Exchange regulations number 2/3 (ii) 1/3 member groups proposed; (c) the Council deems necessary. 22nd presided over by the President of the General Assembly. Convening of the general meeting, should be considered at the meeting members of the 10th.
    Temporary general meeting shall not adopt resolutions on the matters not stated in the notice. 23rd article Member has more than 2/3 members of the General Assembly to that effect.
    Member voting should be made by the General Assembly meeting minutes signed by the members attending the meeting.
    Closing date 10th member in the Futures Exchange all documents of the Assembly shall be reported to the CSRC. 24th a Futures Exchange set up a Council, for a term of 3 years.
    Is a member of the Council to the General Assembly a standing body, accountable to the general meeting.
    25th article Council exercise following terms: (a) convened members Assembly, and to members Assembly report work; (ii) developed Futures Exchange articles, and trading rules and modified draft, submitted members Assembly validation; (three) considered General Manager proposed of financial budget programme, and accounts report, submitted members Assembly through; (four) considered Futures Exchange merged, and Division, and dissolved and liquidation of programme, submitted members Assembly through; (five) decided specifically Committee of set; (six) decided members of accepted and exit;
    (Seven) decided on violations behavior of disciplinary; (eight) decided Futures Exchange change name, and residence or business places; (nine) considered approved according to articles and trading rules developed of rules and approach; (10) considered settlement guarantees gold of using situation; (11) considered approved risk reserves of using programme; (12) considered approved General Manager proposed of Futures Exchange development planning and annual work plans; (13) considered approved Futures Exchange foreign investment plans;
    (14) supervision General Manager organization implementation members Assembly and Council resolution of situation; (15) supervision Futures Exchange senior management personnel and other staff comply with national about legal, and administrative regulations, and regulations, and policy and Futures Exchange articles, and trading rules and implementation rules of situation; (16) Organization Futures Exchange annual financial accounting report of audit work, decided accountants firm of hired and change matters; (17) Futures Exchange articles provides and members Assembly grant of other terms.
    Article 26th Member by members and non-members of the Council directors; including members of Directors elected by the general meeting, non-member directors appointed by the China Securities Regulatory Commission. Vice President of the 27th Chairman of the Council established pursuant to article 1, 1 to 2 people. Vice Chairman and a Director of the appointment and removal of nominated by the China Securities Regulatory Commission, adopted by the Council.
    Director may not serve concurrently as the General Manager.
    28th the Director shall exercise the following powers: (a), Member of the Assembly, the Council and the work of the Council and (b) specifically to organize and coordinate the work of the Committee; (c) the check and reports to the Council on the implementation of the Council resolution. Vice Chairman assisted the Director work.
    Director for any reason is temporarily unable to fulfil its mandate, specified by the Director of the Vice President or Director of its terms of reference. 29th meeting of the Council at least every six months to convene.
    10th plenary meeting should be held meeting of Directors. Any of the following circumstances, it shall convene a provisional meeting of the Council:

    (A) 1/3 the above proposal governing joint, (ii) Futures Exchange regulations; (c) the China Securities Regulatory Commission proposal.
    Meeting of the Council, convened another interim meeting of the Board of the notice and the notice period.
    Article 30th Council meeting shall be 2/3 more members present is valid, it should be by all the Member 1/2 the above resolution adopted without a vote.
    Within 10th of the Council meeting, Council meetings and other Conference documents should be reported to the CSRC. 31st Board meeting should be attended by the Director himself. Member is unable to attend, shall delegate in writing any other Member to attend; letters rogatory shall set forth the scope of authorization.
    Each Member can only accept member delegates.
    Council should vote made records, present shall sign the minutes of the meeting of Directors and reporters.
    Article 32nd Council may establish, as necessary, monitoring, trading, settlement, clearing, membership review, disciplinary action, mediation, Panel on finance and technology.
    Special committees accountable to the Council, its role, mandate and composition and other matters specified by the Council. 33rd Futures Exchange General Manager 1, Deputy General Manager of several others. General Manager, Deputy General Manager of the China Securities Regulatory Commission decision.
    General Manager for a term of 3 years, shall not be more than two consecutive terms.
    Futures exchanges is the legal representative, General Manager, the General Manager is an ex officio member. 34th article General Manager exercise following terms: (a) organization implementation members Assembly, and Council through of system and resolution; (ii) presided over Futures Exchange of daily; (three) according to articles and trading rules developed about rules and approach; (four) decided settlement guarantees gold of using; (five) developed risk reserves of using programme; (six) developed and implementation by approved of Futures Exchange development planning, and annual work plans; (seven) developed and implementation by approved of Futures Exchange foreign investment plans; (eight) developed period
    Goods exchange financial budget programme, and accounts report; (nine) developed Futures Exchange merged, and Division, and dissolved and liquidation of programme; (10) developed Futures Exchange change name, and residence or business places of programme; (11) decided Futures Exchange institutions set programme, appointment and dismissed staff; (12) decided Futures Exchange employees of wage and rewards and punishments; (13) Futures Exchange articles provides of or Council grant of other terms.
    General Manager for any reason is temporarily unable to fulfil its mandate, specified by the General Manager, Deputy General Manager of its terms of reference.
    35th personnel appointment and removal of middle-level management of the Futures Exchange, shall, on the date of the decision reported to the CSRC in the 10th. Section II company Futures Exchange article 36th-Futures Exchange shall have a general meeting of shareholders of the company.
    The authority of the general meeting of shareholders is that the Futures Exchange, made up of all the shareholders.
    37th article shareholders Assembly exercise following terms: (a) this approach 20th article subsection (a) items, and subsection (four) items to subsection (seven) items provides of terms; (ii) election and replaced non-by workers representative served as of Director, and prison thing; (three) considered approved Board, and Board of supervisors and General Manager of work report; (four) decided Futures Exchange Board submitted of other major matters; (five) Futures Exchange articles provides of other terms.
    Article 38th of the shareholders ' meeting held and the rules of procedure shall comply with the provisions of the articles of the Futures Exchange.
    Meeting end within 10th of the Futures Exchange all documents of the Conference should be reported to the CSRC.
    39th Futures Exchange Board of Directors, for a term of 3 years.
    40th article Board on shareholders Assembly is responsible for, exercise following terms: (a) convened shareholders Assembly Conference, and to shareholders Assembly report work; (ii) developed Futures Exchange articles, and trading rules and modified draft, submitted shareholders Assembly validation; (three) considered General Manager proposed of financial budget programme, and accounts report, submitted shareholders Assembly through; (four) considered Futures Exchange merged, and Division, and dissolved and liquidation of programme, submitted shareholders Assembly through;
    (E) supervising General Manager, organizing the implementation of resolutions of the general meeting of shareholders and the Board; (vi) the article 25th (e) through (13), (15), (16), under the terms of reference, (VII) Statute of futures exchanges and other functions and powers granted by the general meeting of shareholders. 41st established a Futures Exchange Chairman 1, Vice Chairman of 1 to 2 people. The appointment of Chairman, Vice Chairman, nominated by the China Securities Regulatory Commission, Board of Directors.
    Chairman of the Board may not serve concurrently as the General Manager.
    42nd Chairman shall exercise the following powers: (a) preside over the general meeting of shareholders, Board of Directors and the Board of Directors work; (b) specifically to organize and coordinate the work of the Committee; (c) checking implementation of the resolutions of the Board and reports to the Board of Directors. Vice Chairman shall assist the Chairman job.
    Chairman of the Board for any reason is temporarily unable to fulfil its mandate, specified by the Chairman, Deputy Chairman or the Director in fulfilling its mandate.
    43rd meeting of the Board of Directors held and the rules of procedure shall comply with the provisions of the articles of the Futures Exchange.
    End date of 10th Board meeting, Board of Directors meetings and other Conference documents should be reported to the CSRC. 44th Board of Directors may establish, as necessary, to the way article 32nd Special Committee.
    Special committees responsible to the Board, its role, mandate and composition of such matters as shall be prescribed by the Board. 45th futures exchanges should be independent directors.
    Independent directors nominated by the China Securities Regulatory Commission, adopted by the General Assembly of shareholders. Article 46th Secretary of the Board of Directors of the Futures Exchange.
    Secretary of the Board of directors nominated by the China Securities Regulatory Commission, Board of Directors.
    Secretary of the Board of Directors is responsible for the general meeting of shareholders and the Board of the Futures Exchange in the preparatory, file storage, and matters relating to shareholder information management of the Futures Exchange. 47th Futures Exchange General Manager 1, Deputy General Manager of several others. General Manager, Deputy General Manager of the China Securities Regulatory Commission decision.
    General Manager for a term of 3 years, shall not be more than two consecutive terms.
    Futures exchanges is the legal representative, General Manager, the General Manager shall be chaired by the Director.
    48th General Manager exercises the following powers: (a) organize the implementation of systems and resolutions adopted by the general meeting of shareholders, Board of Directors, (ii) the article 34th (b) through (12) under the terms of reference, and (iii) other functions and powers prescribed by statute or delegated by the Board of the Futures Exchange.
    General Manager for any reason is temporarily unable to fulfil its mandate, specified by the General Manager, Deputy General Manager of its terms of reference. 49th Futures Exchange shall have a supervisory board, for a term of 3 years. Member of the Supervisory Board shall be not less than 3 persons. Chairman of the Board of supervisors shall have 1 people, Vice-President, 1 to 2 people.
    The appointment and dismissal of the Chairman and Deputy Chairman of the Supervisory Board, nominated by the China Securities Regulatory Commission, the Board of supervisors by.
    50th Board of supervisors shall exercise the following powers: (a) check the financial futures exchange, (ii) supervision in performing duties of Directors and senior management of the Futures Exchange Act; (c) to submit proposals to the shareholders ' meeting, and (iv) other authorities prescribed by the articles of the Futures Exchange.
    51st meeting of the convening of the rules of procedure and shall conform to the provisions of the articles of the Futures Exchange.
    Within 10th of the meeting of the Supervisory Board, supervisory board meetings and other Conference documents should be reported to the CSRC.
    52nd 35th of the rules herein applicable to futures exchanges.
    Fourth chapter 53rd member management members of the Futures Exchange should be in the People's Republic of China registered in the register of enterprises or other economic organizations.
    54th qualified as a members of the Futures Exchange shall be subject to approval of the Futures Exchange.
    Approval of the Futures Exchange, cancellation of membership, shall be reported to the CSRC.
    Administrative measures for the 55th member of the Futures Exchange should be developed, and acquisition and termination of membership under conditions and procedures, supervision and administration of Member content.
    56th article members business Futures Exchange members enjoys following right: (a) participate in members Assembly, exercise vote, and to be elected and voting; (ii) in Futures Exchange engaged in provides of trading, and settlement and delivery, business; (three) using Futures Exchange provides of trading facilities, get about futures trading of information and service; (four) by provides transfer members qualification; (five) joint proposed held temporary members Assembly; (six) according to Futures Exchange articles and trading rules exercise complaints right;
    (VII) other rights prescribed by the articles of the Futures Exchange.
    57th membership members of the Futures Exchange shall fulfil the following obligations: (a) comply with relevant laws, administrative regulations, rules and policies, (ii) to comply with regulations, trading on the Futures Exchange and its implementing rules and the relevant decisions and (c) pay all costs; (d) the implementation of resolutions of the General Assembly, the Council of members; (e) accept the supervision and management of the Futures Exchange.
    58th company Futures Exchange members shall enjoy the following rights: (a) the article 56th (b) and (c) the rights provided, (ii) in accordance with the rules exercise of the right of appeal, (iii) other rights prescribed by the Futures Exchange trading rules.
    59th company members of the Futures Exchange shall perform the 57th paragraph these measures (a) to (c), (e) the obligations imposed.
    60th futures exchanges should be observed each year on the Futures Exchange trading rules and the detailed rules for the implementation of sampling or thorough examination and results reported to the CSRC. When exercising the supervisory powers of the Futures Exchange, in accordance with the regulations and rules of the Futures Exchange and its implementing regulations require competence and the procedure for members to investigate and collect evidence, members shall cooperate with the.

    61st approved by the China Securities Regulatory Commission, members of the Futures Exchange to the implementation of full settlement system or hierarchical settlement system.
    62nd implementation of full members of the futures exchange clearing system are eligible for clearing with the Futures Exchange. 63rd implementation of full members of the Futures Exchange to the clearing system by the futures company members and non-members of futures companies.
    Futures company members in accordance with the scope of business approved by the China Securities Regulatory Commission related business;-company member shall not engage in futures trading managed futures business under the regulations.
    64th the implementation of full members of the futures exchange clearing settlement system, Member of the trustee's customer settlement. Article 65th member classification system of the members of the futures exchange clearing members and the non-clearing members.
    Clearing Member's eligibility for settlement with the Futures Exchange, non-clearing member does not have the futures exchange clearing qualification.
    The futures exchange clearing members clearing, clearing members to non-clearing members clearing, non-clearing members to their agent's customer settlement.
    66th clearing member by the clearing members, consisting of full clearing members and clearing members. Full clearing members, Member of the special settlement arrangements for non-clearing members signed with settlement agreements settlement.
    Trading clearing member shall not apply for non-clearing members clearing business.
    67th apply for clearing members, shall obtain the approval of the China Securities Regulatory Commission's settlement business qualifications.
    Article 68th member classification according to clearing members of the clearing system of the futures exchange credit and business conditions, limit the scope of clearing members of the clearing business, but it should be within the 3rd report to the CSRC. Fifth chapter basic business rule 69th margin charged to members of the Futures Exchange, only for the discharge of a security futures contract, shall not be sealed up or frozen or deducted or enforced.
    Futures exchanges should be futures margin deposit Bank special settlement account storage deposit accounts, it shall not be diverted. Reserve for deposit into the settlement and margin call.
    Settlement provision is one that is not occupied by a contract margin; the margin trade margin refers to contracts already in use.
    Introduction of Member classification only to clearing members of the clearing system of the Futures Exchange margin. 70th shall establish security management system of the Futures Exchange.
    Security management system shall include the following information: (a) standard and form of bail to members, (ii) members settlement provision in the special settlement account minimum balance; (c) when the Member settlement reserve balance below the minimum balance at the Futures Exchange's disposal method.
    Member billing reserve minimum balance paid by members with their own capital to the Futures Exchange.
    71st futures exchanges accepted the following securities offset margin: (a) the standards identified by the Futures Exchange warehouse, (ii) marketable bonds and (iii) other securities recognized by the China Securities Regulatory Commission.
    Previously securities under margin offset, offset term of validity shall not exceed the term of the securities.
    72nd standard warehouse used to bond the Futures Exchange to offset a day before the standard warehouse corresponds to the most recent delivery month settlement price calculates the value of a futures contract.
    Treasury offset margin of the Futures Exchange to offset a day before the Treasury bonds on the Shanghai Stock Exchange, Shenzhen Stock Exchange calculates the closing value of low.
    Futures Exchange based on market conditions for the offset margin portfolio adjusted basis value.
    73rd securities offset margin must not be higher than the lower of the following standards: (a) securities calculated value of 80%, (ii) membership on the Futures Exchange real money in the special settlement account 4 times.
    74th futures trading-related losses, fees, payments and tax payments, shall be paid in cash, not to securities offset payments.
    75th customer securities used to deposit, a member shall submit the securities received by the Futures Exchange.
    Non-clearing member customer securities offset margin, non-clearing member shall submit the securities received by clearing members submitted by clearing members of the Futures Exchange.
    76th customers securities offset margin, futures exchanges should be used to offset securities types and quantities reflect the transactions in the client code. Article 77th member classification of futures exchange clearing system settlement guarantee system should be established.
    Settlement guarantee fund include changes in the basic settlement guarantee fund and settlement guarantee fund. Settlement guarantee fund paid by clearing members with their own capital to the Futures Exchange. Clearing security metal to all clearing members to cope with clearing member default risk.
    Shall be managed in accordance with the relevant provisions of the Futures Exchange and use, shall not be appropriated for other purposes.
    Adjusted basis of the Futures Exchange Clearing security standards should be reported to the CSRC before adjustment.
    78th Futures Exchange shall, in accordance with article 20% of the extraction of fee income risk, risk reserve shall be accounted for separately and accounts storage.
    The CSRC may according to the size of the Futures Exchange, development plans, as well as potential risks to decide the size of the risk reserve. 79th future implementation of customer transaction coding system.
    Member and customer shall abide by a code system, and shall not be mixed code transactions.
    80th imposed position limits of futures trading hedging system and approval system. 81st futures transactions of large position reporting system. Member or customer Futures Exchange Holdings reached the required position reporting standards, Member or customer should be reported to the Futures Exchange.
    Customers did not report, members should report to the Futures Exchange.
    Futures Exchange can be adjusted according to the market risk profile developed and positions reporting standards.
    82nd day of futures trading debt-free settlement system.
    83rd article implementation of full settlement system risk management of the Futures Exchange to Member, Member of their fiduciary risk management customers.
    Implements the Member hierarchical settlement system risk management of the futures exchange clearing members, clearing members to enter into settlement agreements for risk management of non-clearing members, members of their fiduciary risk management customers.
    In futures trading, the 84th member of default, shall be liable for breach of contract.
    Futures Exchange first to default members of margin bear the members of default responsibility, margin insufficient of, implemented full settlement system of Futures Exchange should to default members of owned funds, and futures exchange risk reserves and Futures Exchange owned funds bear; implemented members grading settlement system of Futures Exchange should to default members of owned funds, and settlement guarantees gold, and futures exchange risk reserves and Futures Exchange owned funds bear.
    Futures exchanges under a settlement guarantee fund and futures exchange risk reserve and the Futures Exchange, after its own funds on behalf of the responsible, the appropriate recourse against defaulting Member.
    85th article has according to think members or customer violation Futures Exchange trading rules and implementation rules and on market is produced or is produced major effect, for prevent violations behavior consequences further expanded, Futures Exchange can on the members or customer take following temporary disposal measures: (a) limit into gold; (ii) limit out gold; (three) limit open warehouse; (four) improve margin standard; (five) deadline flat warehouse; (six) forced flat warehouse.
    Futures Exchange trading rules and the rules for the implementation of the procedures provided for in the preceding paragraph (d), (e) or (f) of the measures, measures should be taken in reporting in a timely manner after the China Securities Regulatory Commission.
    Futures exchanges to members or clients to take interim measures, should be in accordance with the rules of trade in a futures exchange and its implementing rules in the manner prescribed notify members or customers, setting out the interim measures are based.
    86th futures prices were mixed in with directions to stop, the Futures Exchange can be adjusted using PLM, raising margin standard and sell according to certain principles, such as measures to reduce risk. 87th Futures Exchange to implement the risk warning system.
    Futures Exchange deems necessary, can be taken individually or together with which members and clients, talking reminder, issue reminder and other measures, to warn and to reduce risk.
    88th article in futures trading process in the appeared following case one of of, Futures Exchange can announced into exception situation, take emergency resolve risk: (a) earthquake, and flood, and fire, force majeure or computer systems fault, not return accountability Yu Futures Exchange of reasons led to trading cannot normal for; (ii) members appeared settlement, and delivery crisis, on market is produced or is produced major effect; (three) appeared this approach 86th article provides of case by take corresponding measures Hou still not resolve risk;
    (D) the Futures Exchange trading rules and other circumstances as provided for in the implementing rules.
    Futures exchanges before the exception was declared and decided to take emergency measures should be reported to the CSRC.
    89th exception was declared and decided to suspend trading on the Futures Exchange, suspended for periods of not more than 3 trading days, but unless it is approved by the China Securities Regulatory Commission extended by.
    90th futures exchanges should be published in an appropriate manner the following information: (a) market rates, (ii) open interest and trading volume rankings, (iii) the Futures Exchange trading rules and other information that is provided in the implementing rules.
    Physical delivery of futures transactions involving commodities, futures exchanges should also release standard number of the warehouse receipt and the available storage capacity.
    91st futures exchange transactions shall be compiled weekly report, monthly reports and annual reports, tables, and released in a timely manner. 92nd Futures Exchange for futures trading, settlement, clearing data retention period should be not less than 20 years.

    Supervision and administration of the sixth chapter 93rd Futures Exchange set or modify the articles of Association, rules, listing, suspension, cancellation, or restore the transaction, listing, modify or terminate the contract, it should be approved by the China Securities Regulatory Commission.
    94th Futures Exchange for violation of rules of trade in a futures exchange and the detailed rules for the implementation of acts of investigation measures are formulated, and approval of the China Securities Regulatory Commission.
    Members of the Futures Exchange and its clients, specify the delivery warehouse, futures margin deposit banks and other participants of the futures market futures-related irregularities, ways should be referred to in the preceding paragraph shall be investigated and dealt with in a timely manner within the scope of responsibilities under; beyond the scope of responsibilities under the approach referred to in the preceding paragraph, shall be reported to the CSRC.
    95th Futures Exchange to develop or modify trading rules detailed rules for the implementation of, and shall seek the opinions of China Securities Regulatory Commission, and released prior to the implementation, reported the China Securities Regulatory Commission.
    96th of a futures exchange clearing systems and transaction settlement of futures margin security deposit monitoring requirements should be met, and show a true, accurate and complete member margin changes.
    97th futures exchanges should be in accordance with China's regulations on securities and Futures margin security custody monitoring, to futures margin security custody monitoring agencies to submit relevant information.
    98th company acquired Futures Exchange to the Futures Exchange and the shareholders to transfer their shares or other disposal of shares should be approved by the China Securities Regulatory Commission. 99th senior managers of futures exchange shall meet the requirements of the China Securities Regulatory Commission.
    Without the approval of the China Securities Regulatory Commission, and Vice Chairman and a Director of the Futures Exchange, the Chairman, Vice Chairman, Chairman of the Supervisory Board, Deputy Chairman of the Supervisory Board, General Manager, Deputy General Manager and Secretary of the Board of Directors shall, in any non-profit organization on a part-time basis.
    Without approval, the Futures Exchange to other staff members and non-member directors shall not be in any form in members of the Futures Exchange and other non-profit organizations in connection with futures trading part time.
    100th Futures Exchange staff shall abide by the relevant laws, administrative regulations, rules and policies, dedication, diligence, good faith, with good professional ethics.
    Staff members shall not engage in futures trading on the Futures Exchange shall not leak insider information or using insider information to gain illegal benefits, shall not benefit from the members of the Futures Exchange, customers.
    Staff members perform the functions of a Futures Exchange, in the event of relevance to themselves or their relatives when it has an interest, he shall withdraw.
    101th futures exchange proceeds in accordance with the relevant provisions of the State administration and use, but shall first be used to ensure the running of futures trading venues, facilities and improvements.
    102th article Futures Exchange should to China SFC perform following report obligations: (a) each annual end Hou 4 months within submitted by has securities, and futures related business qualification of Accountants firm audit of annual financial report; (ii) each quarter end Hou L5 days, and each annual end Hou 30th within submitted about business situation and about legal, and administrative regulations, and regulations, and policy implementation situation of quarter and annual work report; (three) China SFC provides of other matters.
    103th article occurred following major matters, Futures Exchange should timely to China SFC report: (a) found Futures Exchange staff exists or may exists serious violation national about legal, and administrative regulations, and regulations, and policy of behavior; (ii) Futures Exchange involved accounted for its net worth 10% above or on its business risk has larger effect of litigation; (three) Futures Exchange of major financial spending, and investment matters and may brings larger financial or business risk of major financial decision;
    (D) other matters prescribed by the CSRC.
    104th CSRC can adjust margin charged by the Futures Exchange based on market standards, pause, resume, or cancel a future trade deals.
    105th China Commission that there are anomalies in the futures market, it may decide to adopt a delayed opening, suspension of trading, closed in advance the necessary risk management measures.
    106th deemed necessary by the CSRC, the Futures Exchange can be prompted by senior management personnel.
    107th CSRC agency risk management for members of the Futures Exchange, regulation, approved by the China Securities Regulatory Commission, futures exchanges should limit membership transferred funds, restricted membership open, shifting positions and forced positions require co-ordination. 108th CSRC can stationing of inspectors to the Futures Exchange.
    Inspectors perform their duties in accordance with the relevant regulations of the China Securities Regulatory Commission.
    Inspectors carry out their duties, futures exchanges should be matched.
    109th Futures Exchange shall be paid in accordance with the relevant provisions of the State supervision of the futures market.
    Seventh chapter legal responsibility 110th article Futures Exchange not according to this approach 15th article, and 35th article, and 52nd article, and 68th article, and 88th article, and 95th article, and 102th article and 103th article of provides perform report obligations, or not according to this approach 23rd article, and 30th article, and 38th article, and 43rd article, and 51st article and 97th article of provides submitted about file, and information and information of, according to futures trading Management Ordinance 68th article punishment.
    111th article Futures Exchange has following behavior one of of, according to futures trading Management Ordinance 69th article punishment: (a) without approved change name or registered capital; (ii) without approved established points by or other any trading places; (three) violation securities filling arrived margin provides; (four) not according to provides on members for check; (five) not established or not implementation customer trading coding system, and margin management system;
    (F) the clearing systems and transaction settlement does not comply with the provisions of article 96th.
    Futures Exchange 112th article in violation of the provisions of article 100th, 82nd penalty under the futures trading Management Ordinance.
    Eighth chapter supplementary articles article 113th in other trading venues approved by the China Securities Regulatory Commission conducting futures transactions, in accordance with the relevant provisions of the measures. 114th these measures shall come into force on April 15, 2007.
                                                                  Released on May 17, 2002 the management of futures exchanges (6th of China Securities Regulatory Commission) abolished at the same time.

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