Xinhu Futures

Regulation on the Administration of Futures Trading

(Promulgated by Order No. 489 of the State Council of the People’s Republic of China on March 6, 2007; according to the Decision of the State Council on Amending the Regulation on the Administration of Futures Trading on October 24, 2012 and promulgate by Order No.627 of the State Council) 

  

Chapter I General Provisions 

 

Article 1 This Regulation is formulated for the purposes of regulating futures trading, intensifying the supervision and administration over futures trading, maintaining the futures market order, preventing risks, protecting the legitimate rights and interests of all parties to futures trading as well as the public interests, and promoting the vigorous but stable development of the futures market. 

 

Article 2 All entities and individuals engaging in futures trading and relevant activities shall comply with this Regulation. 

 

For the purposes of this Regulation, “futures trading” means trading activities with futures contracts or option contracts as the subject matter of trading conducted in the manner of centralized public trading or any other manner approved by the futures regulatory authority of the State Council. 

 

For the purposes of this Regulation, “futures contract” means a standard contract uniformly prepared by a futures trading place under which a certain quantity of the subject matter shall be delivered on a given future date at a specified location. Futures contracts include commodity futures contracts, financial futures contracts and other futures contracts. 

 

For the purposes of this Regulation, “option contract” means a standard contract uniformly prepared by a futures trading place under which the buyer is entitled to buy or sell the subject matter (including a futures contract) at a specific price on a given future date. 

 

Article 3 The principle of openness, fairness, impartiality and good faith shall be observed in the futures trading activities. It is prohibited to conduct violations such as fraud, inside transactions and manipulated futures trading prices. 

 

Article 4 Futures trading shall be conducted in a futures trading place established in accordance with paragraph 1 of Article 6 of this Regulation or in any other futures trading place approved by the State Council or the futures regulatory authority of the State Council. 

No futures trading may be conducted outside of the futures trading places prescribed in the preceding paragraph. 

 

Article 5 The futures regulatory institution of the State Council shall supervise and administer the futures markets in a centralized manner. 

 

The offices dispatched by the futures regulatory institution of the State Council shall perform their supervisory functions according to the relevant provisions of this Regulation and under the authorization of the futures regulatory institution of the State Council. 

 

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