Circular on Self-Regulatory Measures Taken by CFFEX in March 2024

CFFEX Circular [2024] No.4

To prevent market risks, maintain 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 March 2024.

CFFEX handled 4 cases of self-trade, and 12 cases of frequent placement and cancellation of orders, involving 19 clients in total. 13 clients were suspended the opening of new positions, and 5 members received reminders via telephone.

CFFEX handled 3 cases of trading limits breaches, and took measures against 12 clients involved by suspending their opening of new positions.

CFFEX handled 9 cases of clients' hedging positions exceeding their corresponding matching requirements, and took measures against the 9 clients involved by requiring the attendance at a cautionary interview, suspending the opening of new positions, requesting rectification within a prescribed time period, and requesting reporting, among others.

CFFEX took self-regulatory measures against 3 clients who failed to abide by their hedging plan and perform their reporting obligations as required by suspending their opening of new positions in equity index futures for 1 month and adjusting their hedging quota.