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Notice by the China Financial Futures Exchange of Issuing the Measures of the China Financial Futures Exchange for the Administration of Risk Reserves [Effective]
中国金融期货交易所关于发布《中国金融期货交易所风险准备金管理办法》的通知 [现行有效]
【法宝引证码】

Notice by the China Financial Futures Exchange of Issuing the Measures of the China Financial Futures Exchange for the Administration of Risk Reserves 

中国金融期货交易所关于发布《中国金融期货交易所风险准备金管理办法》的通知

The Measures of the China Financial Futures Exchange for the Administration of Risk Reserves, as reported to the China Securities Regulatory Commission (“CSRC”), are hereby issued and shall come into force on the date of issuance. 《中国金融期货交易所风险准备金管理办法》已报告中国证监会,现予以发布,并自发布之日起实施。
Annex: Measures of the China Financial Futures Exchange for the Administration of Risk Reserves 附件:中国金融期货交易所风险准备金管理办法
China Financial Futures Exchange 中国金融期货交易所
May 24, 2019 2019年5月24日
Measures of the China Financial Futures Exchange for the Administration of Risk Reserves 中国金融期货交易所风险准备金管理办法
Chapter I General Provisions 

第一章 总则

Article 1 These Measures are developed in accordance with the Regulation on the Administration of Futures Trading, the Measures for the Administration of Futures Exchanges and other laws and regulations as well as the business rules of the China Financial Futures Exchange (hereinafter referred to as the “Exchange”) in order to regulate the extraction, custody, use and approval of risk reserves of the China Financial Futures Exchange and other related work, strengthen the Exchange's capability to guard against risks and guarantee the sound and smooth operation of the financial futures market.   第一条 为了规范中国金融期货交易所风险准备金提取、存管、使用和审批等相关工作,增强交易所风险防范能力,保障金融期货市场健康平稳运行,根据《期货交易管理条例》、《期货交易所管理办法》等法规、规章以及中国金融期货交易所(以下简称交易所)业务规则,制定本办法。
Article 2 For the purposes of these Measures, “risk reserves” means the funds set up legally by the Exchange to maintain the normal operation of the financial futures market, provide financial guarantees and compensate for losses caused by unforeseen risks of the Exchange.   第二条 本办法所称风险准备金是指由交易所依法设立,用于维护金融期货市场正常运转、提供财务担保和弥补因交易所不可预见的风险带来的亏损的资金。
Article 3 In managing risk reserves, the Exchange shall abide by the “compliance, safety and stability” principles.   第三条 交易所管理风险准备金应当遵守合规、安全、稳健的原则。
Article 4 The Exchange, members, clients and other participants in the futures market shall abide by these Measures.   第四条 交易所、会员、客户以及期货市场其他参与者应当遵守本办法。
Chapter II Extraction of Risk Reserves 

第二章 风险准备金的提取

Article 5 The Exchange shall extract risk reserves at 20% of service charges. 

爱法律,有未来

  第五条 交易所应当按照手续费收入的20%的比例提取风险准备金。
Article 6 The Exchange may, according to its own business scale, development plan and potential risks, propose the size of risk reserves, and submit it to the China Securities Regulatory Commission for approval before implementation.   第六条 交易所可以根据自身业务规模、发展计划以及潜在的风险等提出风险准备金的规模建议,报中国证监会批准后实施。
Article 7 Where the balance is lower than the proper size of risk reserves due to the use of risk reserves, the Exchange shall continue to make extraction in accordance with the provisions of these Measures.   第七条 因使用风险准备金致使余额低于风险准备金应有规模的,交易所应当按照本办法的规定继续提取。
Chapter III Custody and Management of Risk Reserves 

第三章 风险准备金的存管

Article 8 The Exchange shall pay close attention to the safety and liquidity of the risk reserves in custody.   第八条 交易所应当关注风险准备金存管时的安全性和流动性。
The Exchange shall, as scheduled, transfer the extracted risk reserves to the special account for risk reserves. 交易所应当按期将提取的风险准备金划转至风险准备金专用账户。
Article 9 Risk reserves shall be accounted for separately and deposited in a special account to make up for risk losses, and shall not be used for other purposes.   第九条 风险准备金应当单独核算,专户存储,专门用于弥补风险损失,不得挪作它用。
Article 10 The interest and other fruits of risk reserves shall be included in risk reserves.   第十条 风险准备金的利息等孳息应当计入风险准备金。
All taxes and fees incurred during the custody, use and management of risk reserves shall be deducted from risk reserves. 风险准备金存管、使用和管理过程中发生的所有税费,从风险准备金中扣除。
Chapter IV Use of Risk Reserves 

第四章 风险准备金的使用

Article 11 In case of any of the following circumstances, the Exchange may use risk reserves, provided that the Exchange is still unable to control risks after taking the corresponding risk control measures according to the Exchange's business rules:   第十一条菊花碎了一地 发生下列情形之一的,根据交易所业务规则采取相应风险控制措施后,仍然无法控制风险的,交易所可以使用风险准备金:
(1) A clearing member breaches the contract in futures trading, and the margin and settlement security are insufficient; (一)结算会员在期货交易中违约,且保证金和结算担保金不足的;
(2) When organizing such business as futures trading, clearing and delivery and their related activities, the Exchange is held liable after losses incur due to the Exchange's technical system failure, market information release, and other reasons; and (二)在组织期货交易、结算和交割等业务及其相关活动过程中,由于交易所的技术系统故障、行情发布等原因,造成损失后,交易所承担责任的;
(3) Risk events that are having or will have a significant impact on the futures market are defused. (三)为化解期货市场正在产生或者将产生重大影响的风险事件的。
Article 12 Where the risk reserves are used to make up for clearing members' breach of the contract and the margin and settlement security are insufficient, such risk reserves shall be directly transferred to the special settlement account of the Exchange. The risk reserves used to compensate for the losses of clearing members shall be directly transferred to the special cash account of clearing members. The risk reserves used to compensate for the losses of trading members and clients shall be transferred through the special cash account of clearing members entrusted by them. The risk reserves used to make up for other losses or dispose of risks shall be transferred according to the written agreement.   第十二条 风险准备金用于弥补结算会员违约且保证金和结算担保金不足的,直接划入交易所专用结算账户;用于弥补结算会员损失的,直接划入结算会员专用资金账户;用于弥补交易会员、客户损失的风险准备金,通过其委托的结算会员专用资金账户划转;用于弥补其他损失或者处置风险的,按照书面约定的方式划转。
Article 13 The existing risk reserves that are insufficient to cover the losses of multiple clearing members, trading members and clients shall be distributed in proportion to make up the losses.   第十三条 现有风险准备金不足以弥补多个结算会员、交易会员、客户损失的,按照比例发放进行弥补。
The term “proportion” mentioned in the preceding paragraph means the ratio of the existing risk reserve balance to the total losses, unless otherwise provided by the State laws and administrative regulations. 前款所述比例是指现有风险准备金余额与损失总额的比值,国家法律、行政法规等另有规定的除外。
Article 14 After the Exchange uses risk reserves to cover risk losses or dispose of risks, it shall obtain the right of recourse according to law, and the risk reserves in recoveries shall be transferred to the special account of risk reserves.   第十四条 交易所使用风险准备金弥补风险损失或者处置风险后,依法取得追偿权,追偿款中属于风险准备金部分的应当划转至风险准备金专用账户。
Chapter V Approval for the Use of Risk Reserves 

第五章 风险准备金使用的审批

Article 15 The Exchange shall, after fully demonstrating the necessity, rationality, and feasibility of the use of risk reserves, draw up a plan for the use of risk reserves.   第十五条 交易所应当在充分论证风险准备金使用的必要性、合理性和可行性之后,拟订风险准备金使用方案。
Article 16 After the plan for the use of risk reserves is examined and approved by the executive committee of the board of directors of the Exchange, the Exchange shall use risk reserves according to the prescribed purposes and procedures.   第十六条 风险准备金使用方案经交易所董事会执行委员会审议批准后,交易所应当按照规定的用途和程序使用风险准备金。
Article 17 The plan for the use of risk reserves shall be reported to the CSRC within ten working days upon approval by the executive committee of the board of directors.   第十七条 交易所风险准备金使用方案应当在董事会执行委员会批准后10个工作日内,向中国证监会报告。
Chapter VI Supplemental Provisions 

第六章 附则

Article 18 The issues such as the specific ways of keeping risk reserves in custody and the procedures for using them shall be separately prescribed by the Exchange.   第十八条 风险准备金的具体存管方式、使用流程等由交易所另行规定。
Article 19 The power of interpretation of these Measures shall be vested in the China Financial Futures Exchange.   第十九条 本办法的解释权属于中国金融期货交易所。
Article 20 These Measures shall come into force on May 24, 2019.好饿但是不想动   第二十条 本办法自2019年5月24日起施行。
     
     
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