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Guide for New Clearing Members
2010-03-05

A new Clearing Member should make the following preparations:

I.Open a Dedicated Guarantee Fund Account

Submit an Application Form for Opening a Clearing Member Dedicated Guarantee Fund Account.

Receive a Management Notice on Clearing Member Dedicated Guarantee Fund Account.

Apply for a Dedicated Guarantee Fund Account at a bank designated by the Exchange.

II.Open Dedicated Margin Accounts

Submit an Application Form for Opening Clearing Member Dedicated Margin Accounts  .

Receive a Management Notice on Clearing Member Dedicated Margin Accounts.

Apply for Dedicated Margin Accounts at the Depository Banks and agree with the banks on a start date for all the accounts.

III.Apply for Licenses of Clearing and Delivery Personnel

Submit a Letter of Authorization for Clearing and Delivery Personnel.

Submit two ID photos of each applicant (25 mm*35 mm in size).

Authorize two or more Clearing and Delivery Personnel.

IV. Pay the Basic Guarantee Fund with Clearing Member’s Own Funds

The Basic Guarantee Fund is RMB 10 million for each Trading Clearing Member, RMB 20 million for each General Clearing Member, and RMB 30 million for each Special Clearing Member.

V.Maintain a Minimum Clearing Reserve Balance with Clearing Member’s Own Funds

The Clearing Reserve balance should be no less than RMB 2 million.

Annex 1: Application Form for Opening a Clearing Member Dedicated Guarantee Fund Account.doc

Annex 2: Application Form for Opening Clearing Member Dedicated Margin Accounts.doc

Annex 3: Letter of Authorization for Clearing and Delivery Personnel.doc