If a member applies for a hedging quota, it shall go through the application formalities directly with the Exchange.
Article 4 When applying for hedging quota, a member or customer shall fill in the Application Form for Hedging Quota of China Financial Futures Exchange and submit the following application materials to the Exchange:
(1) A natural person client submits a copy of the ID card, and a member or legal person client submits a copy of the business license, a copy of the organization code certificate and the audited financial report for the last two years;
(2) Spot transactions in the last six months;
(3) The applicant's hedging trading plan;
(4) An explanation of the applicant's historical hedging transactions.
(five) the member's verification statement on the authenticity of the applicant's materials;
(6) Other materials as stipulated by the Exchange.
Article 5 The hedging amount shall be examined and approved by the Exchange according to the spot market transactions, credit status and market conditions of the hedging applicant.
Article 6 The Exchange shall complete the examination and approval within 5 trading days after accepting the application for hedging quota, and handle it according to the following circumstances:
(1) Notify the applicant for approval if it meets the hedging conditions;
(two) do not meet the hedging conditions, notify them not to handle;
(three) if the relevant application materials are insufficient, notify the applicant to supplement the application materials.
The Exchange shall report the hedging approval results to the China Securities Regulatory Commission.
Article 7 The hedging amount is valid for 6 months from the date of approval and can be reused within the validity period. The approved hedging quota can be used for multi-month contracts, and the total amount of hedging positions in the same direction of each contract shall not exceed the approved hedging quota in that direction.
Article 8 The new hedging amount approved in the last 10 trading day of the contract shall not be used in the contract.
Article 9 The trading ownership shall adjust the hedging amount according to the market conditions.
Article 10 When the applicant needs to adjust the hedging amount, it shall submit a written application for change to the Exchange in time. The adjusted hedging amount is valid for 6 months from the date of approval.