In the formal legal channels, the customer has the right to request to sign this agreement. Because Article 33 of the Provisions of the Supreme People's Court on Several Issues Concerning the Trial of Futures Disputes in Futures Laws and Regulations stipulates that if the customer's margin is insufficient, the futures company has fulfilled its notification obligation, and the customer fails to add the margin in time, and the customer requests to hold a position and reaches a written agreement, the losses caused during the holding period shall be borne by the customer.
However, judging from the laws and regulations of the futures company industry, Article 38 of the newly revised Regulations on the Administration of Futures Trading (hereinafter referred to as the Regulations) stipulates that when the customer's margin is insufficient, he should add the margin in time or close the position on his own. If the customer fails to add the margin in time or close the position by himself within the time specified by the futures company, the futures company shall forcibly close the position of the customer's contract. In addition, Article 70 clearly stipulates that if a futures company allows customers to trade under the condition of insufficient margin, it shall be ordered to make corrections, given a warning, confiscate the illegal income, and impose a fine of more than 1 times and less than 3 times the illegal income; If there is no illegal income or the illegal income is less than 654.38+10,000 yuan, a fine of 654.38+10,000 yuan but not more than 300,000 yuan shall be imposed; If the circumstances are serious, it shall be ordered to suspend business for rectification or revoke the futures business license, give a warning to the directly responsible person in charge and other directly responsible personnel, and impose a fine of 1000 yuan to 50000 yuan; If the circumstances are serious, the post-holding qualifications and futures practitioners' qualifications shall be suspended or revoked.
If a futures company signs a position agreement with a customer, the losses caused during the position period shall be borne by the customer, but the losses caused by the warehouse penetration shall be borne by the futures company; In addition, futures companies allow customers to trade under the condition of insufficient margin, but also bear corresponding administrative responsibilities and face the risk of administrative punishment. For customers, after signing the reserved position agreement, if the market continues to fluctuate reversely, the losses of customers will continue to expand.
Therefore, it is harmful to sign a position agreement when the margin is insufficient. It is not illegal to sign such an agreement, but generally speaking, the futures company in charge will not advise customers to sign such an agreement.
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