CFFEX Circular [2024] No.8

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 July 2024.

CFFEX handled 3 cases of self-trade, 9 cases of frequent placement and cancellation of orders, and 2 cases of placement and cancellation of large orders, involving 16 clients in total. 11 clients were suspended the opening of new positions, and 5 members received reminders via telephone.

CFFEX handled 19 cases of trading limits breaches, and took measures against the 41 clients involved by suspending their opening of new positions. 

CFFEX handled 3 cases of clients’ hedging positions or arbitrage positions exceeding their corresponding matching requirements, and took measures against the 3 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 handled 1 case of circumventing and trading above the trading limits of CFFEX by improper means. CFFEX took disciplinary measures against the 4 clients involved by issuing warnings，suspending their opening of new positions in equity index futures for 7 months and confiscating RMB 16,050,665.87 in gains from the violation. The violation was also recorded in the Capital Market Integrity Database.