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Regulations of Henan Province on the Administration of Futures Market (for Trial Implementation)
Chapter I General Provisions Article 1 In order to meet the needs of socialist market economy and social development, implement national macro-control measures, strengthen the management of futures market, standardize futures trading behavior, protect the legitimate rights and interests of parties involved in futures trading, maintain the order of futures market and promote the development of futures market, these Regulations are formulated in accordance with the provisions of relevant national laws and regulations. Article 2 All futures exchanges, units and individuals engaged in futures trading activities within the administrative region of this province must abide by these regulations. Article 3 The term "futures trading" as mentioned in these Regulations refers to the trading of standardized contracts of futures and options in futures exchanges. Article 4 Futures trading must follow the principles of openness, fairness, justice, equal competition and good faith. Fifth provincial futures market administrative department is responsible for the unified management of the province's futures market.

The provincial futures industry association implements industry self-discipline management.

Futures trading activities are managed by the futures exchange. Article 6 Futures exchanges and futures brokerage institutions shall formulate measures, improve their systems and strengthen the risk management of futures trading. Article 7 Provincial futures market administrative departments, futures exchanges and their staff shall not participate in futures trading.

State administrative organs, judicial organs and their subordinate units and staff at all levels shall not participate in futures trading. Chapter II Futures Market Management Institutions Article 8 Provincial futures market management institutions shall be responsible for the management of the province's futures market in accordance with laws, regulations and these Regulations, and their offices shall be responsible for daily work. Article 9 The responsibilities of the administrative department of the provincial futures market are:

(1) To implement the laws, regulations and these Regulations on the administration of the national futures market;

(2) To supervise and manage the work of futures exchanges and futures industry associations;

(3) Examining the establishment, alteration and termination of futures exchanges and futures brokerage institutions.

(4) Examining the articles of association and rules of the futures exchange.

(5) Mediation and settlement of disputes between members and futures exchanges and futures settlement institutions;

(6) Investigating or participating in the investigation of acts that violate the laws and regulations governing the futures market;

(seven) decided to take emergency measures to ensure the normal operation of the futures market;

(8) Other duties. Chapter III Establishment, Change and Termination of Futures Exchanges Article 10 Futures exchanges refer to non-profit organizations established according to law to organize futures trading.

The futures exchange is an independent legal person and bears limited liability with its property. Article 11 The establishment of a futures exchange shall meet the following conditions:

(a) in line with the development plan of the futures market, with good circulation, financial and information conditions;

(2) There are listed varieties that meet the requirements of futures trading;

(3) Having qualified funds and professionals;

(4) Having venues, facilities, communication and traffic conditions suitable for the trading scale and listed varieties;

(5) Formulating trading rules and management measures;

(6) Other conditions stipulated by laws and regulations. Article 12 To apply for the establishment of a futures exchange, the following documents shall be submitted to the administrative department of the provincial futures market:

(1) An application report;

(2) Articles of association of the futures exchange.

(3) Futures trading rules;

(four) other documents required by the provincial administrative department of futures market. Article 13 The articles of association of a futures exchange shall specify the following items:

(1) name;

(2) Purpose and function;

(3) the mode of establishment;

(four) the location of offices, trading places and other facilities;

(5) Membership requirements and procedures for joining and quitting;

(six) the powers and responsibilities of the general assembly;

(7) Rights and obligations of members;

(8) Organizational structure, powers and rules of procedure;

(9) Financial and settlement management;

(10) labor and personnel management;

(eleven) the distribution and use of income;

(12) year of establishment;

(13) Accounting and auditing systems;

(14) Conditions and procedures for alteration and termination;

(15) Measures for amending the articles of association and rules;

(sixteen) other matters that need to be explained in the articles of association. Article 14 The futures trading rules shall specify the following items:

(1) Listed varieties;

(2) trading time;

(3) the transaction method;

(4) Suspension of trading.

(5) Providing standardized contracts;

(6) settlement and delivery.

(seven) the payment and management of margin and risk fund;

(8) Collection of handling fees;

(9) Measures for auditing member accounts;

(10) Prohibited acts in transactions;

(eleven) penalties for violation of trading rules;

(12) Settlement of futures trading disputes.

(thirteen) other matters that need to be stipulated in the rules. Article 15 The administrative department of the provincial futures market shall complete the examination within 30 days from the date of receiving the application report and other prescribed documents, and submit them for examination and approval in accordance with the relevant provisions of the state.

No unit or individual may set up a futures exchange without authorization. Article 16 A futures exchange established upon approval shall go through the registration formalities in accordance with the relevant provisions of the state. Article 17 In case of any of the following changes to a futures exchange, an application shall be submitted to the administrative department of the provincial futures market:

(1) name;

(2) address;

(3) Legal representative;

(4) Articles of association;

(5) Listed varieties.

With the consent of the administrative department in charge of the provincial futures market, the futures exchange shall go through the formalities of change in accordance with the relevant provisions; Changes in major issues such as trading rules shall be filed with the provincial futures market administrative department.