Futures trading seats: individuals can't do futures trading directly, they need to go through futures brokerage companies, and these companies are members of the exchange, which is what you call seats. How can I get a seat on the futures exchange?
I. Requirements for applying for futures trading seats
1. It is in good operating condition and has no record of major violations of laws and regulations;
2. The communication and fund transfer conditions meet the requirements of the Exchange;
3. Equipped with business systems and relevant professionals that meet the requirements of the Exchange;
4. Having sound rules and regulations and transaction management measures;
5. The construction and management of the business system meet the requirements of the relevant technical management norms of the state, industry and exchange.
Second, the processing time of the application for futures trading seats
The Exchange shall give a written reply to the application report within 15 working days from the date of receiving the application report and related materials that meet the requirements. Members shall sign a seat use agreement with the Exchange within 5 working days after receiving the reply from the Exchange agreeing to their seat application. Overdue without reason, as a waiver.
Three. The use fee of futures trading seats
The seat use fee is charged annually. If the number of seats declared annually does not exceed 200,000, the annual use fee is RMB 20,000; If the number of seats declared annually exceeds 200,000, the annual use fee is RMB 30,000. The declared amount refers to the sum of the quantity of buying, selling and canceling entrustment. When the seat is revoked, the seat use fee collected will not be refunded.
Four. Use and maintenance of seats
After the installation and system debugging of member trading facilities are completed, they can be put into use only after reaching the standards stipulated by the exchange and meeting the opening conditions.
Members should strengthen the management of seats and the maintenance of trading business systems. When the main facilities need to be replaced or technical adjustment, the prior consent of the exchange shall be obtained. If the seat moves out of the original place of registration, it shall be reported to the exchange for approval in advance. The owner of the transaction shall supervise and inspect the use of the seats.
Verb (abbreviation of verb) cancels the futures trading seat
1. Apply to cancel the seat and get the approval of the Exchange;
2. Subcontract, sublease or transfer seats without permission;
3. Management confusion, serious violation of regulations, or failure to meet the conditions for opening after verification;
4. Use seats to steal secrets or destroy the exchange system;
5. Membership is terminated;
6. The Exchange considers it inappropriate to open futures trading seats.