The notice issued by Dalian Commodity Exchange (DCE) on January 9 announced the amendments to the “Bylaws of Dalian Commodity Exchange” (Bylaws) and the “Trading Rules of Dalian Commodity Exchange” (Trading Rules). According to the notice, the amendments to the “Bylaws” and the “Trading Rules” have been discussed and adopted by the 6th general meeting of DCE and approved by the China Securities Regulatory Commission (CSRC). The amendments shall come into effect as from the date of issuance.
According to the sources, the “Bylaws” is the fundamental and ruling legal document for the establishment and operation of DCE, establishes the organizational structure of membership system for DCE, and specifies the business scope and the basic responsibility for self-discipline management; the “Trading Rules” is the ruling legal document for the detailed implementation rules and measures for all businesses, and serves as the basic business system. Over the years, the “Bylaws” and the “Trading Rules” have played due roles of protection and guidance in establishing, developing, standardizing and supervising the DCE market. But with the reform and development of the futures market increasingly deepened, the market regulation and supervision continuously advanced and DCE’s internal governance structure constantly improved, profound changes have taken place in the situations and tasks, internal and external conditions, systems and environment and the actual requirements that DCE faces in the course of organizing, supervising and developing the market. The existing “Bylaws” and “Trading Rules” lagged behind and were inadaptable to some extent.
To this end, the “Bylaws” has been revised mainly in three aspects, including improving DCE’s internal governance structure, expanding DCE’s space for business development and strengthening DCE’s responsibility for self-discipline supervision. The amendments to the “Trading Rules” mainly include the three aspects of adapting to DCE’s actual business development, expanding DCE’s space for business development and improving DCE’s responsibility for self-discipline supervision. In addition, the “Bylaws” and the “Trading Rules” have further standardized the relevant statements so as to conform to the laws and regulations of higher levels.
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