To all member units:
In order to more effectively carry out the self-descipline supervision work, safeguard the trading order of the futures market, and promote the sound development of the futures market, Dalian Commodity Exchange made amendaments to the supervision standard and proceeding process of the “Management Measures for Abnormal Transaction of Dalian Commodity Exchange (for Trial Implementation)” after getting approval from the Board of Directors and making report to China Securities Regulatory Commission for record, and the major content fo the amendament is as follows:
(I): No compulsory supervision measure shall be imposed on the futures companies whose clients made abnormal transactions;
(II): The following cases shall not be regarded as abnormal transactions: the behaviors of self-reached transaction, frequent submission and cancellation of orders, submission and cancellationn of big-sum orders from the arbitrage trading and hedging trading, and the cases where the actual controlling related account is forced to hold positions exceeding position limit.
(III): Revision was made to the supervision measure for the actual controlling related account that holds positions exceeding the position limits for three times. For those who hold total positions exceeding the position limits for three times, DCE shall carry out the supervision measure of position opening striction for the actual controlling related account of the group on the next day, and the time for the position opening striction shall not be less than 6 months in principle.
(IV): Revisions were made to the supervision standards of self-reached transaction, frequent submission and cancellation of orders, submission and cancellationn of big-sum orders. The regulations of “exceeding 5 times”, “exceeding 500 times” and “exceeding 400 times” in the original standards were changed to “reaching 5 times (inclusive) and above”, “reaching 500 times (inclusive) and above”and “reaching 400 times (inclusive) and above” respectively.
Now related revisions to the regulations are released and the amendament shall take effect as of July 23, 2012.
Hereby comes this notice.
Dalian Commodity Exchange