| | |
| Regulation on the Administration of Futures Trading | | 期货交易管理条例 |
(Promulgated by Order No. 489 of the State Council of the People's Republic of China on March 6, 2007; according to the Decision of the State Council on Amending the Regulation on the Administration of Futures Trading on October 24, 2012 and promulgate by Order No.627 of the State Council) | |
（2007年3月6日中华人民共和国国务院令第489号公布 根据2012年10月24日《国务院关于修改〈期货交易管理条例〉的决定》修订 国务院令第627号） |
| |
|
| Chapter I General Provisions | | 第一章 总 则 |
| |
|
| Article 1 This Regulation is formulated for the purposes of regulating futures trading, intensifying the supervision and administration over futures trading, maintaining the futures market order, preventing risks, protecting the legitimate rights and interests of all parties to futures trading as well as the public interests, and promoting the vigorous but stable development of the futures market. | | 第一条 为了规范期货交易行为，加强对期货交易的监督管理，维护期货市场秩序，防范风险，保护期货交易各方的合法权益和社会公共利益，促进期货市场积极稳妥发展，制定本条例。 |
| |
|
| Article 2 All entities and individuals engaging in futures trading and relevant activities shall comply with this Regulation. | | 第二条 任何单位和个人从事期货交易及其相关活动，应当遵守本条例。 |
For the purposes of this Regulation, “futures trading” means trading activities with futures contracts or option contracts as the subject matter of trading conducted in the manner of centralized public trading or any other manner approved by the futures regulatory authority of the State Council. | |
本条例所称期货交易，是指采用公开的集中交易方式或者国务院期货监督管理机构批准的其他方式进行的以期货合约或者期权合约为交易标的的交易活动。 |
For the purposes of this Regulation, “futures contract” means a standard contract uniformly prepared by a futures trading place under which a certain quantity of the subject matter shall be delivered on a given futures date at a specified location. Futures contracts include commodity futures contracts, financial futures contracts and other futures contracts. | |
本条例所称期货合约，是指期货交易场所统一制定的、规定在将来某一特定的时间和地点交割一定数量标的物的标准化合约。期货合约包括商品期货合约和金融期货合约及其他期货合约。 |
For the purposes of this Regulation, “option contract” means a standard contract uniformly prepared by a futures trading place under which the buyer is entitled to buy or sell the subject matter (including a futures contract) at a specific price on a given futures date. | |
本条例所称期权合约，是指期货交易场所统一制定的、规定买方有权在将来某一时间以特定价格买入或者卖出约定标的物（包括期货合约）的标准化合约。 |
| |
|
| Article 3 The principle of openness, fairness, impartiality and good faith shall be observed in the futures trading activities. It is prohibited to conduct violations such as fraud, inside transactions and manipulated futures trading prices. | | 第三条 从事期货交易活动，应当遵循公开、公平、公正和诚实信用的原则。禁止欺诈、内幕交易和操纵期货交易价格等违法行为。 |
| |
|
| Article 4 Futures trading shall be conducted in a futures trading place established in accordance with paragraph 1 of Article 6 of this Regulation or in any other futures trading place approved by the State Council or the futures regulatory authority of the State Council. | | 第四条 期货交易应当在依照本条例第六条第一款规定设立的期货交易所、国务院批准的或者国务院期货监督管理机构批准的其他期货交易场所进行。 |
No futures trading may be conducted outside of the futures trading places prescribed in the preceding paragraph. | |
禁止在前款规定的期货交易场所之外进行期货交易。 |
| |
|
| Article 5 The futures regulatory institution of the State Council shall supervise and administer the futures markets in a centralized manner. | | 第五条 国务院期货监督管理机构对期货市场实行集中统一的监督管理。 |
The offices dispatched by the futures regulatory institution of the State Council shall perform their supervisory functions according to the relevant provisions of this Regulation and under the authorization of the futures regulatory institution of the State Council. | |
国务院期货监督管理机构派出机构依照本条例的有关规定和国务院期货监督管理机构的授权，履行监督管理职责。 |
| |
|
| Chapter II Futures Exchange | | 第二章 期货交易所 |
| |
|
| Article 6 The establishment of a futures exchange shall be subject to the examination and approval of the futures regulatory institution of the State Council. | | 第六条 设立期货交易所，由国务院期货监督管理机构审批。 |
Without the approval of the State Council or the futures regulatory authority of the State Council, no entity or individual may establish any futures trading place or organize futures trading and relevant activities in any form. | |
未经国务院批准或者国务院期货监督管理机构批准，任何单位或者个人不得设立期货交易场所或者以任何形式组织期货交易及其相关活动。 |
| |
|
| Article 7 A futures exchange shall not take profit-making as its purpose. It shall conduct self-disciplinary management according to its Articles of association. It shall bear civil liabilities to the extent of all of its properties. Its person-in-charge shall be appointed and dismissed by the futures regulatory institution of the State Council. | | 第七条 期货交易所不以营利为目的，按照其章程的规定实行自律管理。期货交易所以其全部财产承担民事责任。期货交易所的负责人由国务院期货监督管理机构任免。 |
The administrative measures for futures exchanges shall be formulated by the futures regulatory institution of the State Council. | |
期货交易所的管理办法由国务院期货监督管理机构制定。 |
| |
|
| Article 8 The members of a futures exchange shall be enterprises with legal person status or other economic organizations established and registered within the territory of the People's Republic of China. | | 第八条 期货交易所会员应当是在中华人民共和国境内登记注册的企业法人或者其他经济组织。 |
A futures exchange may adopt a graded member clearing system. The members under the graded member clearing system comprise of clearing members and non-clearing members. | |
期货交易所可以实行会员分级结算制度。实行会员分级结算制度的期货交易所会员由结算会员和非结算会员组成。 |
| |
|
| Article 9 Anyone who is under any of the circumstances as described in Article 147 of the Company Law of the People's Republic of China or under any of the following circumstances shall not assume the post of the person-in-charge or accountant of the futures exchange: | | 第九条 有《中华人民共和国公司法》第一百四十七条规定的情形或者下列情形之一的，不得担任期货交易所的负责人、财务会计人员： |
| |
|
| (1)Five years have not lapsed from the day when the person-in-charge of a futures exchange, stock exchange or securities register & clearing institution, or the director, supervisor or senior manager of a futures company or securities company, or any other person as prescribed by the futures regulatory institution, is removed from his post because of his violation of disciplines; or | | （一）因违法行为或者违纪行为被解除职务的期货交易所、证券交易所、证券登记结算机构的负责人，或者期货公司、证券公司的董事、监事、高级管理人员，以及国务院期货监督管理机构规定的其他人员，自被解除职务之日起未逾5年； |
| |
|
| (2) Five years have not lapsed from the day when a lawyer, certified public accountant, or professional of an investment consultation institution, financial consultancy institution, credit rating institution, asset appraisal institution or verification institution, is removed from post because of his violation of disciplines. | | （二）因违法行为或者违纪行为被撤销资格的律师、注册会计师或者投资咨询机构、财务顾问机构、资信评级机构、资产评估机构、验证机构的专业人员，自被撤销资格之日起未逾5年。 |
| |
|
| Article 10 A futures exchange shall, in pursuance of this Regulation and the provisions of the futures regulatory institution of the State Council, formulate and improve various rules and strengthen the control of risks of trading activities as well as the supervision and administration over its members and staff. It shall perform the following duties: | | 第十条 期货交易所应当依照本条例和国务院期货监督管理机构的规定，建立、健全各项规章制度，加强对交易活动的风险控制和对会员以及交易所工作人员的监督管理。期货交易所履行下列职责： |
| |
|
| (1)To provide a trading place and relevant facilities and services; | | （一）提供交易的场所、设施和服务； |
| |
|
| (2)To design contracts and arrange the listing of contracts; | | （二）设计合约，安排合约上市； |
| |
|
| (3)To organize and supervise the transactions, clearing and delivery; | | （三）组织并监督交易、结算和交割； |
| |
|
| (4)To provide centralized performance guarantee for futures trading; | | （四）为期货交易提供集中履约担保； |
| |
|
| (5)To supervise and administer its members according to its Articles of association and trading rules; and | | （五）按照章程和交易规则对会员进行监督管理； |
| |
|
| (6)Other duties as prescribed by the futures regulatory institution of the State Council. | | （六）国务院期货监督管理机构规定的其他职责。 |
No futures exchange may directly or indirectly participate in futures transactions. No futures exchange may, without passing the examination of the futures regulatory institution of the State Council and being approved by the State Council, make trust investments, stock investments, investments in non-self-use real property or engage in any other business irrelevant to its duties. | |
期货交易所不得直接或者间接参与期货交易。未经国务院期货监督管理机构审核并报国务院批准，期货交易所不得从事信托投资、股票投资、非自用不动产投资等与其职责无关的业务。 |
| |
|
| Article 11 A futures exchange shall, under the relevant provisions of the State, establish sound systems for the management of risks: | | 第十一条 期货交易所应当按照国家有关规定建立、健全下列风险管理制度： |
| |
|
| (1)The margin system; | | （一）保证金制度； |
| |
|
| (2)The mark-to-market system; | | （二）当日无负债结算制度； |
| |
|
| (3)The system of price limits; | | （三）涨跌停板制度； |
| |
|
| (4)The system of position limits as well as reports of big position holders; | | （四）持仓限额和大户持仓报告制度； |
| |
|
| (5)The rules on the reserve for risks; | | （五）风险准备金制度； |
| |
|
| (6)Other risk management systems as prescribed by the futures regulatory institution of the State Council. | | （六）国务院期货监督管理机构规定的其他风险管理制度。 |
A futures exchange which adopts the graded member clearing system shall establish a sound system of security. | |
实行会员分级结算制度的期货交易所，还应当建立、健全结算担保金制度。 |
| |
|
| Article 12 At the occurrence of any abnormal circumstance in the futures market, the futures exchange shall, according to the power and procedures as prescribed in its Articles of association, decide to take the following urgent measures and shall immediately report it to the futures regulatory institution of the State Council: | | 第十二条 当期货市场出现异常情况时，期货交易所可以按照其章程规定的权限和程序，决定采取下列紧急措施，并应当立即报告国务院期货监督管理机构： |
| |
|
| (1)To uplift the margin; | | （一）提高保证金； |
| |
|
| (2)To adjust the price limits; | | （二）调整涨跌停板幅度； |
| |
|
| (3)To limit the maximum amount of futures held by its members or clients; | | （三）限制会员或者客户的最大持仓量； |
| |
|
| (4)To suspend the transactions; | | （四）暂时停止交易； |
| |
|
| (5)To take other urgent measures. | | （五）采取其他紧急措施。 |
The term “abnormal circumstance” as mentioned in the preceding paragraph refers to the acts of manipulating the futures trading prices or the occurrence of emergencies due for any force majeure and other circumstances as prescribed by the futures regulatory institution of the State Council. | |
前款所称异常情况，是指在交易中发生操纵期货交易价格的行为或者发生不可抗拒的突发事件以及国务院期货监督管理机构规定的其他情形。 |
After the disappearance of an abnormal circumstance, the futures exchange shall timely cancel the urgent measures. | |
异常情况消失后，期货交易所应当及时取消紧急措施。 |
| |
|
| Article 13 To handle the following affairs, a futures exchange shall be subject to the approval of the futures regulatory institution of the State Council: | | 第十三条 期货交易所办理下列事项，应当经国务院期货监督管理机构批准： |
| |
|
| (1)The formulation of or modification to its Articles of association or trading rules; | | （一）制定或者修改章程、交易规则； |
| |
|
| (2)The listing, suspension, cancellation or resumption of any type of transaction; | | （二）上市、中止、取消或者恢复交易品种； |
| |
|
| (3)The listing, modification or termination of any contract; | | （三）上市、修改或者终止合约； |
| |
|
| (4)The change of its domicile or business place; | | （四）变更住所或者营业场所； |
| |
|
| (5)The merger, split-up or dissolution; | | （五）合并、分立或者解散； |
| |
|
| (6)Other affairs as prescribed by the futures regulatory institution of the State Council. | | （六）国务院期货监督管理机构规定的其他事项。 |
To approve the listing of new transaction type in a futures exchange, the futures regulatory institution of the State Council shall consult the opinions of the relevant department of the State Council | |
国务院期货监督管理机构批准期货交易所上市新的交易品种，应当征求国务院有关部门的意见。 |
| |
|
| Article 14 The revenues of a futures exchange shall be managed and used in accordance with the relevant provisions of the state, but shall first be utilized to ensure the operation and improvement of the futures exchange and the facilities thereof. | | 第十四条 期货交易所的所得收益按照国家有关规定管理和使用，但应当首先用于保证期货交易场所、设施的运行和改善。 |
| |
|
| Chapter III Futures Companies | | 第三章 期货公司 |
| |
|
| Article 15 A futures company refers to a financial institution which is established according to the Company Law of the People's Republic of China and this Regulation and which engages in the business of futures. The establishment of a futures company shall be subject to the approval of the futures regulatory institution of the State Council and shall be registered in the company registration organ. | | 第十五条 期货公司是依照《中华人民共和国公司法》和本条例规定设立的经营期货业务的金融机构。设立期货公司，应当经国务院期货监督管理机构批准，并在公司登记机关登记注册。 |
Without approval of the futures regulatory institution of the State Council, no entity or individual may establish any futures company to engage in the business of futures, or do so in any disguised form. | |
未经国务院期货监督管理机构批准，任何单位或者个人不得设立或者变相设立期货公司，经营期货业务。 |
| |
|
| Article 16 To apply for establishing a futures company, the applicant shall satisfy the requirements in the Company Law of the People's Republic of China and the following conditions: | | 第十六条 申请设立期货公司，应当符合《中华人民共和国公司法》的规定，并具备下列条件： |
| |
|
| (1)Its minimum registered capital shall be 30 million yuan; | | （一）注册资本最低限额为人民币3000万元； |
| |
|
| (2)Its directors, supervisors and senior managers have obtained the qualifications for assuming their posts and its employees have obtained the futures practicing qualifications; | | （二）董事、监事、高级管理人员具备任职资格，从业人员具有期货从业资格； |
| |
|
| (3)It has its Articles of association which conform to the laws and administrative regulations; | | （三）有符合法律、行政法规规定的公司章程； |
| |
|
| (4)Its main shareholders and actual controllers have a sustainable profit-making capacity and a good reputation, and none of them has any record of serious violation during the recent 3 years; | | （四）主要股东以及实际控制人具有持续盈利能力，信誉良好，最近3年无重大违法违规记录； |
| |
|
| (5)It has a qualified business place and operation facilities; | | （五）有合格的经营场所和业务设施； |
| |
|
| (6)It has sound risk management and internal control systems; | | （六）有健全的风险管理和内部控制制度； |
| |
|
| (7)Other conditions as prescribed by the futures regulatory institution of the State Council. | | （七）国务院期货监督管理机构规定的其他条件。 |
The futures regulatory institution of the State Council may, according to the principle of prudent supervision and the degree of risks of various businesses, increase the minimum amount of the registered capital. The registered capital shall be actually paid-in capital. The shareholders shall make capital contributions in cash or in kind essential to the business operations of a futures company and the capital contributions in cash shall not be less than 85% of the total. | |
国务院期货监督管理机构根据审慎监管原则和各项业务的风险程度，可以提高注册资本最低限额。注册资本应当是实缴资本。股东应当以货币或者期货公司经营必需的非货币财产出资，货币出资比例不得低于85%。 |
The futures regulatory institution of the State Council shall, within 6 months after it accepts an application for the establishment of a futures company, examine it according to the principle of prudent supervision, and make a decision of approval or disapproval. | |
国务院期货监督管理机构应当在受理期货公司设立申请之日起6个月内，根据审慎监管原则进行审查，作出批准或者不批准的决定。 |
Without approval of the futures regulatory institution of the State Council, no entity or individual may entrust any other person or accept any other person's entrustment to hold or manage the stock rights of any futures company. | |
未经国务院期货监督管理机构批准，任何单位和个人不得委托或者接受他人委托持有或者管理期货公司的股权。 |
| |
|
| Article 17 A futures company shall be subject to the licensing system. The futures regulatory institution of the State Council shall grant it a permit according to the business type such as commodity futures and financial futures. Besides the domestic futures brokerage, a futures company may apply for engaging in overseas futures brokerage, futures investment consultation and other futures businesses as prescribed by the futures regulatory institution of the State Council. | | 第十七条 期货公司业务实行许可制度，由国务院期货监督管理机构按照其商品期货、金融期货业务种类颁发许可证。期货公司除申请经营境内期货经纪业务外，还可以申请经营境外期货经纪、期货投资咨询以及国务院期货监督管理机构规定的其他期货业务。 |
No futures company may engage in any activity which has nothing to do with the business of futures, unless it is otherwise provided for by any law, administrative regulation, or by the futures regulatory institution of the State Council. | |
期货公司不得从事与期货业务无关的活动，法律、行政法规或者国务院期货监督管理机构另有规定的除外。 |
No futures company may engage in any self-operation business of futures or do so in any disguised form. | |
期货公司不得从事或者变相从事期货自营业务。 |
No futures company may provide financing service to its shareholders, actual controllers or other affiliated parties, or provide guaranty to outsiders. | |
期货公司不得为其股东、实际控制人或者其他关联人提供融资，不得对外担保。 |
| |
|
| Article 18 For a futures company engaging in brokerage business, if it accepts the entrustment of any client and conducts, in its own name, any futures transaction for its client, the transaction results shall belong to the client. | | 第十八条 期货公司从事经纪业务，接受客户委托，以自己的名义为客户进行期货交易，交易结果由客户承担。 |
| |
|
| Article 19 Where a futures company intends to handle the following affairs, it shall be subject to the approval of the futures regulatory institution of the State Council: | | 第十九条 期货公司办理下列事项，应当经国务院期货监督管理机构批准： |
| |
|
| (1)The merger, split-up, suspension of business, dissolution or bankruptcy; | | （一）合并、分立、停业、解散或者破产； |
| |
|
| (2) The change of its business scope; | | （二）变更业务范围； |
| |
|
| (3) The modification of registered capital and adjustment of equity structure; | | （三）变更注册资本且调整股权结构； |
| |
|
| (4)The addition of a shareholder holding 5% or more of equity or modification of the controlling shareholder; | | （四）新增持有5%以上股权的股东或者控股股东发生变化； |
| |
|
| (5)The establishment, acquisition, taking shares, or termination of any overseas futures institution; or | | （五）设立、收购、参股或者终止境外期货类经营机构； |
| |
|
| (6) Other affairs as prescribed by the futures regulatory institution of the State Council. | | （六）国务院期货监督管理机构规定的其他事项。 |
The affairs as mentioned in Items (3) and (6) of the preceding paragraph, the futures regulatory institution of the State Council shall, within 20 days after it accepts an application, make a decision of approval or disapproval. For other affairs as described in the preceding paragraph, the futures regulatory institution of the State Council shall, within 2 months after it accepts an application, make a decision of approval or disapproval. | |
前款第三项、第六项所列事项，国务院期货监督管理机构应当自受理申请之日起20日内作出批准或者不批准的决定；前款所列其他事项，国务院期货监督管理机构应当自受理申请之日起2个月内作出批准或者不批准的决定。 |
| |
|
| Article 20 Where a futures company intends to handle any of the following affairs, it shall be subject to the approval of the office dispatched by the futures regulatory institution of the State Council: | | 第二十条 期货公司办理下列事项，应当经国务院期货监督管理机构派出机构批准： |
| |
|
| (1)To change its legal representative; | | （一）变更法定代表人； |
| |
|
| (2)To change its domicile or business place; | | （二）变更住所或者营业场所； |
| |
|
| (3)To establish or terminates branch within China; | | （三）设立或者终止境内分支机构； |
| |
|
| (4)To modify the business scope of a domestic branch office; or | | （四）变更境内分支机构的经营范围； |
| |
|
| (5)Other affairs as prescribed by the futures regulatory institution of the State Council. | | （五）国务院期货监督管理机构规定的其他事项。 |
The affairs as mentioned in Items (1), (2), (4) and (5) of the preceding paragraph, the office dispatched by the futures regulatory institution of the State Council shall, within 20 days after it accepts an application, make a decision of approval or disapproval. For the affairs as described Item (3) in the preceding paragraph, the office dispatched by the futures regulatory institution of the State Council shall, within 2 months after it accepts an application, make a decision of approval or disapproval. | |
前款第一项、第二项、第四项、第五项所列事项，国务院期货监督管理机构派出机构应当自受理申请之日起20日内作出批准或者不批准的决定；前款第三项所列事项，国务院期货监督管理机构派出机构应当自受理申请之日起2个月内作出批准或者不批准的决定。 |
| |
|
| Article 21 Where a futures company or any of its branches is under any of the circumstances as described in Article 70 of the Administrative License Law of the People's Republic of China or under any of the following circumstances, the futures regulatory institution of the State Council shall cancel its futures business permit: | | 第二十一条 期货公司或者其分支机构有《中华人民共和国行政许可法》第七十条规定的情形或者下列情形之一的，国务院期货监督管理机构应当依法办理期货业务许可证注销手续： |
| |
|
| (1)Its business license is cancelled by the company registration organ; | | （一）营业执照被公司登记机关依法注销； |
| |
|
| (2)Without any justifiable reason, it fails to start business operations after the lapse of 3 months as of its establishment or suspends its business operations for 3 consecutive months or longer; | | （二）成立后无正当理由超过3个月未开始营业，或者开业后无正当理由停业连续3个月以上； |
| |
|
| (3)Its files a cancellation application on its own initiative; and | | （三）主动提出注销申请； |
| |
|
| (4)Other circumstances as prescribed by the futures regulatory institution of the State Council. | | （四）国务院期货监督管理机构规定的其他情形。 |
Before a futures company cancels its futures business permit, it shall settle the relevant futures businesses and return the margin and other assets to its clients in pursuance of the law. Any branch of the futures company shall, prior to the cancellation of the business permit, terminate its business activities and shall properly settle the clients' assets. | |
期货公司在注销期货业务许可证前，应当结清相关期货业务，并依法返还客户的保证金和其他资产。期货公司分支机构在注销经营许可证前，应当终止经营活动，妥善处理客户资产。 |
| |
|
| Article 22 A futures company shall formulate sound business management rules and risk management rules and strictly implement them. It shall abide by the information disclosure rules, ensure the safe custody of the clients' margin, and under the provisions of the futures exchange, report to the futures exchange the name list of its big clients and the relevant transactions. | | 第二十二条 期货公司应当建立、健全并严格执行业务管理规则、风险管理制度，遵守信息披露制度，保障客户保证金的存管安全，按照期货交易所的规定，向期货交易所报告大户名单、交易情况。 |
| |
|
| Article 23 Other futures trading institutions engaging in the futures investment consulting business shall hold a business qualification granted by the futures regulatory authority of the State Council, and the specific administrative measures shall be developed by the futures regulatory authority of the State Council. | | 第二十三条 从事期货投资咨询业务的其他期货经营机构应当取得国务院期货监督管理机构批准的业务资格，具体管理办法由国务院期货监督管理机构制定。 |
| |
|
| Chapter IV Basic Rules on Futures Trading | | 第四章 期货交易基本规则 |
| |
|
| Article 24 The parties conducting futures trading in a futures exchange shall be members of the futures exchange. | | 第二十四条 在期货交易所进行期货交易的，应当是期货交易所会员。 |
Overseas institutions meeting the prescribed conditions may engage in specific types of futures trading on futures exchanges. The specific measures shall be developed by the futures regulatory authority of the State Council. | |
符合规定条件的境外机构，可以在期货交易所从事特定品种的期货交易。具体办法由国务院期货监督管理机构制定。 |
| |
|
| Article 25 A futures company which accepts a client's entrustment to trade futures on his account shall provide the client in advance with a risk disclosure statement, and after the client has confirmed this with his signature, it shall sign a written contract with the client. No futures company may conduct futures trading without client's entrustment or without following the client's entrustment. | | 第二十五条 期货公司接受客户委托为其进行期货交易，应当事先向客户出示风险说明书，经客户签字确认后，与客户签订书面合同。期货公司不得未经客户委托或者不按照客户委托内容，擅自进行期货交易。 |
No futures company may make any promise of profits to its clients or agree on sharing profits or risks with its clients. | |
期货公司不得向客户作获利保证；不得在经纪业务中与客户约定分享利益或者共担风险。 |
| |
|
| Article 26 The following entities and individuals shall not engage in futures trading. No futures company may accept their entrustment to trade futures on their account: | | 第二十六条 下列单位和个人不得从事期货交易，期货公司不得接受其委托为其进行期货交易： |
| |
|
| (1)The state organs and public institutions; | | （一）国家机关和事业单位； |
| |
|
| (2)The futures regulatory institution of the State Council, the futures exchanges, the institution monitoring the safe custody of futures margin, as well as the personnel of the associations of the futures industry; | | （二）国务院期货监督管理机构、期货交易所、期货保证金安全存管监控机构和期货业协会的工作人员； |
| |
|
| (3) The persons prohibited to enter into the futures market; | | （三）证券、期货市场禁止进入者； |
| |
|
| (4)The entities and individuals offer documents certifying that they have opened an account; and | | （四）未能提供开户证明材料的单位和个人； |
| |
|
| (5)Other entities and individuals not allowed to trade futures as prescribed by futures regulatory institution of the State Council. | | （五）国务院期货监督管理机构规定不得从事期货交易的其他单位和个人。 |
| |
|
| Article 27 A client may give trading instructions to the futures company in writing, by telephone, through the internet or other methods as prescribed by the futures regulatory institution of the State Council. The client's trading instructions shall be clear and complete. | | 第二十七条 客户可以通过书面、电话、互联网或者国务院期货监督管理机构规定的其他方式，向期货公司下达交易指令。客户的交易指令应当明确、全面。 |
No futures company may induce any client to give trading instructions by concealing any important event or by any other improper means. | |
期货公司不得隐瞒重要事项或者使用其他不正当手段诱骗客户发出交易指令。 |
| |
|
| Article 28 A futures exchange shall timely announce the details concerning the futures contracts of the marketed varieties, including the trading volume, trading price, volume of positions held, the highest and lowest prices, opening and closing prices, and other real time market information which should be announced, and ensure that the information announced is truthful and accurate. No futures exchange may release any information on price forecasts. | | 第二十八条 期货交易所应当及时公布上市品种合约的成交量、成交价、持仓量、最高价与最低价、开盘价与收盘价和其他应当公布的即时行情，并保证即时行情的真实、准确。期货交易所不得发布价格预测信息。 |
Without permission of the futures exchange, no entity or individual may release the real time market information about futures trading. | |
未经期货交易所许可，任何单位和个人不得发布期货交易即时行情。 |
| |
|
| Article 29 The margin system shall be strictly observed in the futures trading. The margin, which a futures company collects from its clients, shall not be lower than the rates as prescribed by the futures regulatory institution of the State Council, or by the stock exchange, and shall be separated from the futures company's own money and be deposited in a special account. | | 第二十九条 期货交易应当严格执行保证金制度。期货交易所向会员、期货公司向客户收取的保证金，不得低于国务院期货监督管理机构、期货交易所规定的标准，并应当与自有资金分开，专户存放。 |
The margin, which a futures company collects from its clients, belongs to the clients. Such margin shall be strictly prohibited from being used for any other purpose except for the settlement among its members. | |
期货交易所向会员收取的保证金，属于会员所有，除用于会员的交易结算外，严禁挪作他用。 |
The margin, which a futures company collects from its clients, belongs to the clients. Such margin shall be strictly prohibited from being used for any other purpose except for the following transferable circumstances: | |
期货公司向客户收取的保证金，属于客户所有，除下列可划转的情形外，严禁挪作他用： |
| |
|
| (1)To pay the money available at the request of the clients; | | （一）依据客户的要求支付可用资金； |
| |
|
| (2)To deposit the margin or pay commissions or taxes on the clients' account; and | | （二）为客户交存保证金，支付手续费、税款； |
| |
|
| (3)Other circumstances as prescribed by the futures regulatory institution of the State Council. | | （三）国务院期货监督管理机构规定的其他情形。 |
| |
|
| Article 30 A futures company shall open a separate account and set up a separate trading code for each of its clients and may not mix up the codes in its futures trading. | | 第三十条 期货公司应当为每一个客户单独开立专门账户、设置交易编码，不得混码交易。 |
| |
|
| Article 31 For a futures company engaging in the futures brokerage business and other futures businesses, it shall strictly follow the principle of separation of business and separation of funds, and shall not mix them up. | | 第三十一条 期货公司经营期货经纪业务又同时经营其他期货业务的，应当严格执行业务分离和资金分离制度，不得混合操作。 |
| |
|
| Article 32 The clearing members of a futures exchange, futures company or non-futures company shall, in accordance with the provisions of the futures regulatory institution of the State Council and of the finance department, prepare, manage and use the risk reserve, shall not misappropriate it. | | 第三十二条 期货交易所、期货公司、非期货公司结算会员应当按照国务院期货监督管理机构、财政部门的规定提取、管理和使用风险准备金，不得挪用。 |
| |
|
Article 33 The items of, rates and administrative measures for service fees shall be uniformly formulated and announced by the relevant administrative department of the State Council.
．．．．．． | | 第三十三条 期货交易的收费项目、收费标准和管理办法由国务院有关主管部门统一制定并公布。
．．．．．． |
|
Dear visitor, as a premium member of this database, you will get complete access to all content.Please go premium and get more.
1. To become a premium member, please call 400-810-8266 Ext. 171.
2. Binding to the account with access to this database.
3. Apply for a trial account.
4. To get instant access to a document, you can Pay Amount 【￥1700.00】 for your single purchase. | |
您好：您现在要进入的是北大法宝英文库会员专区。
如您是我们英文用户可直接 登录，进入会员专区查询您所需要的信息；如您还不是我们 的英文用户；您可通过网上支付进行单篇购买，支付成功后即可立即查看本篇内容。
Tel: +86 (10) 82689699, +86 (10) 82668266 ext. 153
Mobile: +86 13311570713
Fax: +86 (10) 82668268
E-mail:info@chinalawinfo.com
|
| | | |
| | | |