Chapter I General Provisions Article 1 In order to meet the needs of establishing a socialist market economy, standardize the organization and behavior of futures exchanges, futures brokerage companies and brokers in this Municipality, protect the legitimate rights and interests of investors and operators, and promote the healthy development of the futures market, these Measures are formulated in accordance with the relevant provisions of the state and in light of the actual situation of this Municipality. Article 2 The term "futures exchange" as mentioned in these Measures refers to a membership-based legal person that provides places and facilities for standardized futures contract trading, performs relevant duties, is established according to law, and implements self-discipline management; A futures brokerage company refers to an enterprise legal person established in accordance with the law to provide futures trading services for the parties involved in futures trading; A futures broker refers to a person who has obtained the qualification of a futures broker according to law and is employed by a futures brokerage company to act as an agent for the parties to futures trading. Article 3 Futures trading and related activities within the administrative area of this Municipality must abide by these Measures. Article 4 Qingdao Securities Regulatory Commission (hereinafter referred to as the Municipal Securities Regulatory Commission) is the regulatory department of the futures market in this Municipality, and shall exercise unified leadership, planning, coordination and management over the futures market in accordance with these Measures.

Qingdao administration for industry and commerce and financial management institutions shall be responsible for the relevant management of the futures market according to their duties. Article 5 Qingdao Futures Industry Association is a self-regulatory organization of the futures industry in this Municipality, which carries out self-education and self-management activities in the industry and safeguards the legitimate rights and interests of its members. Chapter II Futures Exchange Article 6 The establishment of a futures exchange must be examined by the Municipal Securities Regulatory Commission and submitted to the China Securities Regulatory Commission for approval. Without approval, no institution may use "futures exchange" or other similar names. Article 7 The establishment of a futures exchange shall meet the following conditions:

(1) Having office service conditions and a fixed trading place;

(2) Having communication and information dissemination facilities suitable for the transaction scale;

(three) the listed varieties can be of uniform quality, easy to store and transport, with long-term contracts and many traders, and have been demonstrated by the relevant departments;

(4) Having a corresponding number of futures trading practitioners with professional knowledge;

(five) other conditions stipulated by laws, regulations and rules. Article 8 To apply for the establishment of a futures exchange, the following documents shall be submitted to the CSRC:

(1) an application;

(2) Articles of association and main business rules of the exchange;

(three) the name, address and credit certificate of the promoters;

(4) Proof of site, facilities, equipment and funds;

(five) the certificate of the proposed management personnel;

(6) Theoretical proof of varieties in the market;

(7) Applying for membership of the Exchange;

(8) Other documents. Article 9 The business rules of a futures exchange shall specify the following items:

(1) Basic principles;

(2) trading places and time;

(three) the variety, quality, quantity and pricing standards of the transaction;

(four) the standard contract format and specific content;

(5) Contents and types of trading orders.

(6) Provisions on margin and transaction costs;

(7) Rules for traders and market representatives;

(8) Rules for transaction supervisors and transaction moderators;

(9) Settlement and delivery matters;

(10) Handling of breach of contract;

(eleven) provisions on the suspension of trading;

(12) Rules for suspension, resumption and cancellation of contract transactions;

(thirteen) the rules of the futures exchange;

(14) Other matters. Article 10 Any change or modification of the following matters of a futures exchange shall be subject to the examination and approval of the Municipal Securities Regulatory Commission, and the changes in items (1), (2) and (3) shall be subject to the examination and approval of the Municipal Securities Regulatory Commission, and the industrial and commercial change registration shall be handled in accordance with the prescribed procedures:

(a) change or increase or decrease the listed varieties;

(2) Changing the legal representative;

(3) Changing the name, address and registered capital of the exchange;

(4) Amending the articles of association and trading business rules of the exchange. Article 11 The futures exchange shall be terminated for the following reasons:

(1) The time limit stipulated in the articles of association expires;

(2) Failing to maintain the normal operation of the exchange.

(3) The general meeting of members (shareholders) decides to dissolve;

(four) the examination and approval authority decided to cancel;

(five) other reasons stipulated by laws, regulations and rules.

When the futures exchange is terminated, the Municipal Securities Regulatory Commission shall organize the establishment of a liquidation committee to liquidate assets in accordance with the provisions and go through the cancellation procedures with the original registration authority. Article 12 According to the relevant laws and regulations on futures trading and the relevant systems of futures exchanges, futures exchanges may accept units that meet the following conditions as members of futures exchanges (hereinafter referred to as members):

(1) Having the qualification of a legal person;

(2) Having the registered capital and operating ability suitable for the variety of transactions;

(3) Having a good business reputation;

(4) Its representative has good professional quality and no criminal punishment record;

(five) to recognize the articles of association of the futures exchange and pay the deposit in accordance with the provisions. Article 13 A unit that has been punished for serious illegal business activities or has been removed from the futures exchange may not apply for membership within three years from the date of punishment or removal. Fourteenth futures trading receiving members shall file with the Municipal Securities Regulatory Commission.