Circular on Issuing the Administrative Measures of the China Financial Futures Exchange for Risk Reserves
Circular on Issuing the Administrative Measures of the China Financial Futures Exchange for Risk Reserves
Circular on Issuing the Administrative Measures of the China Financial Futures Exchange for Risk Reserves
May 24, 2019
The Administrative Measures of the China Financial Futures Exchange for Risk Reserves, which have been reported to the China Securities Regulatory Commission, are hereby issued for implementation as of the date of issue.
Administrative Measures of the China Financial Futures Exchange for Risk Reserves
Chapter I General Provisions
Article 1 The Measures are hereby formulated in accordance with the Administrative Regulations on Futures Trading, the Administrative Measures for Futures Exchanges and other regulations and rules as well as business rules of the China Financial Futures Exchange ("CFFEX") in order to regulate the work relating to the withdrawal, custody, use, examination and approval and so on of the risk reserve funds of the China Financial Futures Exchange, strengthen the risk prevention capability of stock exchanges and guarantee the sound and steady operation of the financial futures market.
Article 2 For the purpose of the Measures, risk reserves refer to the funds established by the CFFEX according to the law for the purpose of maintaining the normal operation of the financial futures market, providing financial guarantees and covering losses of risks that are unpredictable for the CFFEX.
Article 3 The CFFEX shall manage risk reserves under the principle of compliance, safety and steadiness.
Article 4 The CFFEX, members, customers and other players on the futures market shall comply with the Measures.
Chapter II Withdrawal of Risk Reserves
Article 5 The CFFEX shall withdraw risk reserves at 20% of the revenue from service charges.
Article 6 As per its own business scale, development plan, potential risks and so on, the CFFEX may make suggestions on the scale of the risk reserves, and report them to the China Securities Regulatory Commission for approval before implementation.
Article 7 Where the balance of the risk reserves is lower than the due scale of risk reserves, the CFFEX shall continuously withdraw the risk reserves in accordance with the Measures.
Chapter III Custody of Risk Reserves
Article 8 The CFFEX shall pay attention to the safety and liquidity of the risk reserves during custody.
......
May 24, 2019
The Administrative Measures of the China Financial Futures Exchange for Risk Reserves, which have been reported to the China Securities Regulatory Commission, are hereby issued for implementation as of the date of issue.
Administrative Measures of the China Financial Futures Exchange for Risk Reserves
Chapter I General Provisions
Article 1 The Measures are hereby formulated in accordance with the Administrative Regulations on Futures Trading, the Administrative Measures for Futures Exchanges and other regulations and rules as well as business rules of the China Financial Futures Exchange ("CFFEX") in order to regulate the work relating to the withdrawal, custody, use, examination and approval and so on of the risk reserve funds of the China Financial Futures Exchange, strengthen the risk prevention capability of stock exchanges and guarantee the sound and steady operation of the financial futures market.
Article 2 For the purpose of the Measures, risk reserves refer to the funds established by the CFFEX according to the law for the purpose of maintaining the normal operation of the financial futures market, providing financial guarantees and covering losses of risks that are unpredictable for the CFFEX.
Article 3 The CFFEX shall manage risk reserves under the principle of compliance, safety and steadiness.
Article 4 The CFFEX, members, customers and other players on the futures market shall comply with the Measures.
Chapter II Withdrawal of Risk Reserves
Article 5 The CFFEX shall withdraw risk reserves at 20% of the revenue from service charges.
Article 6 As per its own business scale, development plan, potential risks and so on, the CFFEX may make suggestions on the scale of the risk reserves, and report them to the China Securities Regulatory Commission for approval before implementation.
Article 7 Where the balance of the risk reserves is lower than the due scale of risk reserves, the CFFEX shall continuously withdraw the risk reserves in accordance with the Measures.
Chapter III Custody of Risk Reserves
Article 8 The CFFEX shall pay attention to the safety and liquidity of the risk reserves during custody.
......