China Financial Futures Exchange was established in Shanghai on September 8, 2006 with a registered capital of 500 million yuan.
The establishment of China Financial Futures Exchange is of great strategic significance for deepening financial market reform, perfecting financial market system and giving full play to financial market functions.
2. Purpose and main functions
Purpose:
Develop the socialist market economy, improve the capital market system, give full play to the functions of the financial futures market, ensure the normal trading of financial derivatives such as financial futures, protect the legitimate rights and interests of the parties to the transaction and the interests of the public, and maintain the normal order of the financial market.
Main functions:
Organizing the listing, trading, settlement and delivery of financial derivatives such as financial futures; Formulate business management rules; Implement self-discipline management; Release market transaction information; Providing technical, site and facility services; Other functions permitted by China Securities Regulatory Commission.
3. Transaction mode and settlement system
Transaction method:
China Financial Futures Exchange adopts electronic trading mode, without trading hall or market representative. Financial futures products are traded through the computer system of the exchange, and the trading system automatically matches transactions according to the principle of price priority and time priority. The adoption of electronic trading reflects the development idea of China Financial Futures Exchange, which is efficient, transparent and international.
Settlement system:
China Financial Futures Exchange implements the settlement member system, and the members are divided into settlement members and non-settlement members. Settlement members are divided into trading settlement members, comprehensive settlement members and special settlement members according to their business scope. The implementation of the clearing member system has formed a multi-level risk control system and enhanced the overall anti-risk ability of China's financial futures exchanges.
China Financial Futures Exchange shoulders the arduous task of establishing and developing China's financial futures market. Under the guidance of Scientific Outlook on Development, China Financial Futures Exchange will build a healthy, standardized, efficient, transparent, innovative and technologically advanced financial futures exchange based on the principle of steady development and advancing with the times, which will play an active role in improving economic risk tolerance, increasing economic flexibility and promoting economic growth.