To prevent market risks, maintain the orderly operation of the market and protect investors’ legitimate rights and interests, China Financial Futures Exchange (CFFEX) took the following self-regulatory measures against violations of exchange rules in July 2020.
CFFEX handled 29 cases of abnormal trading activities with 32 clients involved, including 3 cases of self-trade, 25 cases of frequent placement and cancellation of orders, and 1 case of placement and cancellation of large orders. 28 clients were suspended the opening of new positions, and 4 members received reminders via telephone.
CFFEX handled 5 cases of trading limits violations, and took measures against 5 groups of Actual Control Accounts with 22 clients involved by suspending their opening of new positions.
CFFEX handled 5 cases of clients’ hedging positions or arbitrage positions exceeding their corresponding asset ratio requirements, and took separate measures against the 5 clients involved by requesting rectification within a prescribed time period, requesting reporting, and suspending the opening of new positions, among others.
CFFEX handled 1 case of a member violating exchange rules, and took disciplinary actions against the member in the form of reprimand and suspending the acceptance of the member’s application for new client trading codes within 6 months. The violation by the member was also recorded into China’s capital market integrity database.
