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 May 2020.
CFFEX handled 14 cases of abnormal trading activities with 17 clients involved, including 2 cases of self-trade, 11 cases of frequent placement and cancellation of orders, and 1 case of placement and cancellation of large orders. 11 clients were suspended the opening of new positions for 9 times, and 5 members received reminders via telephone.
CFFEX handled 5 cases of clients’ hedging positions or arbitrage positions exceeding their corresponding asset ratio requirements, and took measures against the 5 clients involved by requesting rectification within a prescribed time period, suspending the opening of new positions, and requesting reporting, among others.
CFFEX handled 1 case of spoofing, and took disciplinary actions against 3 clients in the form of reprimand, suspension of opening of new positions in all financial futures products for 6 months and forfeiture of gains obtained in violation of exchange rules. The violation by these 3 clients was also recorded into China’s capital market integrity database.
