Article 21 Membership change refers to the conversion between trading members, trading settlement members and comprehensive settlement members.
Article 22 When applying for membership change, a member shall meet the conditions stipulated in these Measures, and submit an application for membership change signed by the legal representative and other materials stipulated in these Measures to the Exchange.
Article 23 The Exchange shall, within 30 working days from the date of receiving the application materials that meet the requirements, put forward the examination opinions and notify the qualified applicants to go through the relevant procedures.
Members shall handle the following matters within 30 working days from the date when the Exchange issues the notice of change approval:
(1) When a clearing member applies for changing to a trading member, it shall go through the formalities in accordance with the relevant provisions of Article 12 of these Measures. Pay off all creditor's rights and debts to the exchange; Return all kinds of certificates issued by the exchange; Go through the cancellation procedures for the special fund account and the special account for settlement guarantee; Other matters required by the Exchange.
(2) When a trading member applies for changing to a clearing member, it shall go through the formalities in accordance with the relevant provisions of Article 18 of these Measures.
(3) If the qualification between a trading settlement member and a general settlement member changes, the settlement guarantee shall be paid according to the changed settlement guarantee standard of the settlement member.
If the change of membership involves the change of settlement relationship, the relevant procedures shall be handled in accordance with the settlement rules of China Financial Futures Exchange.
Failing to do so within the time limit shall be deemed as giving up the application.
Article 24 If a member no longer meets the membership requirements stipulated by the Exchange or the China Securities Regulatory Commission, it shall apply for changing or terminating its membership according to the requirements of the Exchange.
Article 25 When applying for termination of membership, a member shall submit to the Exchange an application for termination of membership signed by the legal representative and other materials required by the Exchange.
Article 26 The Exchange shall, within 30 working days from the date of receiving the application materials that meet the requirements, put forward the examination opinions and notify the qualified applicants to go through the relevant procedures.
Members shall, within 30 working days from the date when the Exchange issues the notice of termination of membership, handle the following matters:
(1) Close the contract position;
(2) Settlement of all creditor's rights and debts with the Exchange;
(3) Returning various certificates issued by the exchange;
(4) Handling cancellation procedures for special fund accounts;
(five) to cancel the special account for settlement guarantee;
(6) Other matters required by the Exchange.
Article 27 If the Exchange agrees to terminate its membership, it shall cancel its membership, report to the China Securities Regulatory Commission and publish it.
If a member fails to apply for changing or terminating his membership in accordance with the provisions of Article 24 of these Measures, the Exchange may decide to adjust or cancel his membership and notify the member in writing.
Membership certificate shall be invalid as of the date of cancellation.
Article 28 Under any of the following circumstances, the Exchange will not accept the application for changing or terminating the membership of a member:
(a) due to economic disputes, illegal or criminal cases, the relevant state departments put on record for investigation and handling;
(2) Being placed on file for investigation by the Exchange for alleged violation of regulations.
(3) It has not been more than three months since the Exchange has taken measures such as informed criticism, suspension of futures trading and settlement business due to violations of laws and regulations;
(four) there is a debt dispute with the exchange and it has not been resolved;
(5) Other circumstances stipulated by the Exchange.