Circular On Self-Regulatory Measures Taken By CFFEX In November 2020

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 November 2020.

CFFEX handled 13 cases of abnormal trading activities with 17 clients involved, including 2 cases of self-trade, 10 cases of frequent placement and cancellation of orders, and 1 case of intraday excessive trading. 8 clients were suspended the opening of new positions, and 5 members received reminders via telephone.

CFFEX handled 3 cases of clients’ hedging positions or arbitrage positions exceeding their corresponding asset ratio requirements, and took measures against the 3 clients involved by requesting rectification within a prescribed time period, and requesting reporting, among others. 

CFFEX handled 1 case of pre-arranging trade for illegally transferring benefits, and took self-regulatory measures against the 2 clients by reprimanding and suspending their opening of new positions in China government bond futures for 6 months. The violation by these 2 clients was recorded into China’s capital market integrity database.