However, it does not mean that the bankruptcy of futures companies will not affect customers. Theoretically, futures companies have the ability to use all customers' funds, so there are risks. However, the person who caused this result may be severely punished, so probably no one is willing to take such a risk with his own life.
In addition, there is now an investor protection fund, which is to prepare for the futures company's inability to repay its customers' funds. When the futures company loses part or all of the client's funds due to its own mistakes, the investor's non-trading losses will be paid by the fund.
As for the situation mentioned by the two upstairs, it does not exist, because the exchange is only responsible for its own members (futures companies and proprietary customers) and is not responsible for each specific customer, so it has no obligation to compensate customers for their losses. The risk reserve of the exchange is used to make up for the deficit when the exchange has undergone drastic changes in the market, which leads to the explosion of futures companies and brings losses to the exchange, and is not used as compensation for customers.
As for the CSRC's supervision of the clients' funds of futures companies, it is only a means of filing afterwards. If the futures company uses all or part of the customer's funds on a certain day and causes losses, the futures company goes bankrupt, and the CSRC can't manage it at all.