China Financial Futures Exchange (CFFEX) releases the Notice on the Pilot Program of Commercial Banks Participating in China Government Bond Futures Trading (the “Notice”) together with 12 amended detailed implementation rules including the Measures of China Financial Futures Exchange on Membership Management, as well as the amended Guidelines of China Financial Futures Exchange on the Management of Futures-Company Member Qualifications. The amended rules and guidelines will take effect on March 9, 2020.
After careful deliberation and market consultation, this round of amendment mainly includes adding the concept of "non-futures-company member" to the current membership framework, improving the membership management system, optimizing the position limit system of China Government Bond futures, and enhancing the regulation on the management of futures-company member qualifications, so as to meet the evolving needs of market development.
Next, in line with the CSRC's requirements of "Four Awes" and "One Synergy", CFFEX will perform its duties strictly and conscientiously and pay close attention to market performance after the implementation of the amended rules and guidelines. Furthermore, CFFEX will continuously improve its rules and procedures in practice, safeguard the legitimate rights and interests of investors, effectively manage market risks, and ensure the smooth and orderly operation of the financial futures market.
