Provisions of China Securities Regulatory Commission on Matters Related to the Payment of Futures Investor Protection Funds by Futures Exchanges and Futures Companies.

Provisions of China Securities Regulatory Commission on Matters Related to the Payment of Futures Investor Protection Funds by Futures Exchanges and Futures Companies

In order to establish and improve the long-term mechanism for the protection of futures investors, according to the Interim Measures for the Administration of Futures Investor Protection Funds (Order No.38 of the CSRC, hereinafter referred to as the Interim Measures) and other relevant provisions, the relevant matters concerning the payment of futures investor protection funds (hereinafter referred to as the protection funds) by futures exchanges and futures companies are stipulated as follows:

First, the futures exchange shall pay15% of the total risk reserve account as of February 3, 2006 in accordance with Articles 9 and 10 of the Interim Measures; Pay the follow-up funds due in the previous year (from August 2007 to February 2009, 12) at 3% of the transaction fee charged to the members of the futures company. The first batch of start-up funds paid by Shanghai Futures Exchange and Dalian Commodity Exchange in August 2008 can be deducted. The futures exchange shall, within 7 working days from the date of implementation of these Provisions, transfer the above funds into the special account for protection funds opened by China Futures Margin Monitoring Center.

Two, since 20 10, futures exchanges and futures companies shall, in accordance with the provisions of Article 9 and Article 10 of the Interim Measures, pay the follow-up funds of the security fund on a quarterly basis. Futures companies do not pay the follow-up funds that should be paid in the previous year (August 2007 to February 2009).

Each futures exchange shall, within 15 working days after the end of each quarter, pay the safeguard fund according to 3% of the transaction fee charged to the members of the futures company, and withhold and remit the safeguard fund payable by the futures company according to 5- 10% of the transaction amount of the futures company. The corresponding relationship between the proportion of each futures company's contribution to the protection fund and the classification and rating results of futures companies is shown in the annex.

Three. Each futures exchange shall verify the trading agent amount of each futures company in its exchange, and calculate the deposit payable by each futures company according to the payment ratio corresponding to the rating of each futures company. I will notify the futures exchanges of the annual classified rating results of futures companies in writing, and each futures exchange will calculate the funds that should be paid by each futures company according to the new proportion from the next month after receiving the classified rating results.

Four, the futures exchange shall pay the due withholding protection fund in full and on time, and notify the futures company in writing of the withholding situation, and the futures company shall make up the funds in the settlement reserve account in time. Futures exchanges and futures companies shall not deliberately delay or refuse to pay funds.

Five, the futures exchange, the futures company should be in accordance with the accounting standards for business enterprises and related accounting systems to do a good job of accounting treatment, and in accordance with the "Notice on the pre-tax deduction of enterprise income tax for the securities industry reserve expenditure" (Caishui [2009] No.33) and "Notice on the tax issues related to the futures investor protection fund" (Caishui [2009] No.68) for related tax reduction and exemption.

Six, these Provisions shall come into force as of the date of promulgation.

Attachment: Correspondence Table between the proportion of margin paid by futures companies and the classification results of futures companies

Attachment:

Table of correspondence between the proportion of margin paid by futures companies and the classification results of futures companies

Proportion of payment guarantee funds at futures company level

The transaction volume of AAA institutions is five ten thousandths.

5.5% of the transaction amount of AA-level agency.

Six ten thousandths of the A-level agency transaction amount.

6.5% of the amount of BBB trading agent.

Seven ten thousandths of the BB agent's transaction amount.

7.5% of the transaction amount of B-level agent.

Eight ten thousandths of the transaction amount of CCC-level agents.