Chapter I General Provisions Article 1 In order to strengthen the management of futures exchanges, clarify the rights and responsibilities of futures exchanges and maintain the normal order of futures markets, these Measures are formulated in accordance with the Provisional Regulations on the Administration of Futures Trading. Article 2 These Measures shall apply to futures exchanges established within the territory of People's Republic of China (PRC). Article 3 A futures exchange refers to a legal person established in accordance with the Provisional Regulations on the Administration of Futures Trading and these Measures, performing the functions stipulated in the Provisional Regulations on the Administration of Futures Trading and these Measures, and implementing self-discipline management in accordance with its articles of association.

The registered capital of a futures exchange is divided into equal shares, which are subscribed by members. Article 4 China Securities Regulatory Commission (hereinafter referred to as "China Securities Regulatory Commission") shall exercise centralized and unified supervision and management over futures exchanges according to law. Chapter II Establishment, Change and Termination Article 5 The establishment of a futures exchange shall be examined and approved by the China Securities Regulatory Commission. Without approval, no unit or individual may set up a futures exchange or set up a futures exchange in disguise. Article 6 To apply for the establishment of a futures exchange, the following documents and materials shall be submitted to the China Securities Regulatory Commission:

(1) an application;

(2) Draft articles of association and trading rules;

(3) the business plan of the futures exchange.

(4) List of members joining the Exchange;

(5) List of candidates for directors and their resumes;

(6) The list and resumes of the proposed senior managers;

(seven) site, equipment, capital documents and materials;

(eight) other documents and materials required by the China Securities Regulatory Commission. Article 7 A futures exchange established with the approval of the China Securities Regulatory Commission shall be marked with the words Commodity Exchange or Futures Exchange. No other unit or individual may use commodity exchanges, futures exchanges or similar names. Article 8 A futures exchange shall perform the following duties in addition to the duties stipulated in the Interim Regulations on the Administration of Futures Trading:

(a) to formulate and implement the business rules of the futures exchange;

(2) release market information;

(3) To supervise the futures business of members and investigate and deal with members' violations;

(4) Supervising the futures business of designated delivery warehouses;

(5) To supervise the futures settlement business of the settlement bank and this Exchange. Article 9 The articles of association of a futures exchange shall specify the following items:

(a) The purpose and functions of the institution;

(2) Name, domicile and business premises;

(3) Registered capital and its composition;

(4) business term;

(5) Members and their management measures;

(6) Rights and obligations of members;

(seven) disciplinary action against members;

(eight) the composition, authority, term of office and rules of procedure of the general assembly, the Council and other organizations;

(nine) the emergence, appointment and removal of managers and their responsibilities;

(10) Basic business rules;

(eleven) risk reserve management system;

(twelve) financial accounting and internal audit system;

(13) Conditions, procedures and liquidation methods for alteration and termination;

(14) Procedures for amending the Articles of Association;

(fifteen) other matters that need to be stipulated in the articles of association. Article 10 The trading rules of a futures exchange shall specify the following items:

(1) Futures trading, delivery and settlement system;

(2) Rules on brokerage and proprietary business;

(3) Risk control system and abnormal transaction handling procedures.

(four) the management and use of the deposit system;

(five) the generation, circulation, management and cancellation system of standard warehouse receipts;

(6) Measures for the release of futures trading information.

(seven) violations, breach of contract and their handling methods;

(eight) the way to deal with the transaction dispute;

(9) Other matters that need to be stipulated in the trading rules. Article 11 The merger, division or online trading of a futures exchange shall be subject to the approval of the China Securities Regulatory Commission.

The futures exchange can adopt two ways: absorption merger and new merger. Before the merger, the creditor's rights and debts of all parties shall be inherited by the surviving or newly established futures exchange after the merger.

Where a futures exchange is divided, its creditor's rights and debts shall be inherited by the divided futures exchange. Article 12 All the circumstances specified in Article 17 of the Interim Regulations on the Administration of Futures Trading and the following changes in futures trading shall be reported to the China Securities Regulatory Commission for approval:

(a) change the name;

(2) Change of domicile or business premises. Thirteenth without the approval of the China Securities Regulatory Commission, the futures exchange shall not set up branches or any other futures trading places. Article 14 Where a futures exchange is terminated due to the circumstances specified in Article 20 of the Interim Regulations on the Administration of Futures Trading or due to merger or division, it shall be announced by the China Securities Regulatory Commission.

When the futures exchange terminates, a liquidation group shall be established to carry out liquidation. The liquidation plan formulated by the liquidation group shall be reported to the China Securities Regulatory Commission for approval. Chapter III Organizational Structure Article 15 A futures exchange shall establish a general meeting of members and a board of directors. Article 16 The general meeting of members is the authority of the futures exchange and consists of all members.

The general meeting of members shall exercise the following functions and powers:

(1) Examining and adopting the articles of association and trading rules of the futures exchange and their revised drafts;

(2) Electing and replacing member directors;

(3) Examining and approving the work reports of the board of directors and the general manager;

(4) Examining and approving the financial budget plan and final accounts report of the futures exchange.

(5) Examining the use of risk reserves of futures exchanges.

(6) Deciding to increase or decrease the registered capital of the futures exchange.

(seven) to decide on the merger, division, dissolution and liquidation of the futures exchange;

(eight) to decide on other major matters submitted by the board of directors of the futures exchange;

(9) Other functions and powers as stipulated in the articles of association of the futures exchange.