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What is the market prohibition system in the futures market?
The market prohibition system refers to the system that futures exchanges and futures brokerage institutions are not allowed to accept institutions and individuals declared as "market prohibition" to engage in futures trading within three years. It mainly includes the following contents: 1. Once verified, the futures exchange will declare it as a "person prohibited from entering the market": 1, an institution or individual recognized by the futures exchange as manipulating the market or other futures fraud; 2. Institutions and individuals that seriously violate the relevant national laws and regulations on finance, securities and futures, and deliberately violate the relevant rules and regulations of futures exchanges, resulting in serious consequences; 3. Institutions and individuals that spread false information by means of rumors and false accusations, disrupt market order and cause serious consequences. Two, the futures exchanges will be identified as "market" in a timely manner to report to the China Securities Regulatory Commission, the China Securities Regulatory Commission informed other futures exchanges. Three, the China Securities Regulatory Commission informed the "market ban", the futures exchange, futures brokerage institutions shall not handle the formalities for opening an account for futures trading within three years; For traders who have opened accounts, in addition to clearing the original trading orders, they should immediately stop accepting new trading orders. Futures exchanges and futures brokerage institutions shall not accept the principal responsible persons and persons directly responsible of institutions identified as "market-forbidden persons" to engage in futures business. Four, in violation of the provisions of the third paragraph to accept the "market ban" of futures exchanges and futures brokerage institutions, the China Securities Regulatory Commission will be ordered to correct, confiscate the illegal income, fine, suspend business for rectification, cancel the qualification of the pilot exchange or cancel the qualification of futures brokerage business punishment, and investigate the responsibility of its main person in charge. Five, for intentional violations, manipulation of the market, which constitutes a crime, the futures exchange shall be handed over to the judicial department for criminal responsibility.