Member Application

Members of the Exchange are classified into Trading Clearing Members, General Clearing Members, Special Clearing Members and Trading Members.
An applicant for Trading Membership of the Exchange shall:
(1) be an enterprise legal person or other economic organization registered in the mainland of the People’s Republic of China;
(2) acknowledge and comply with the Trading Rules and detailed implementation rules of the Exchange;
(3) have sound reputation and good track record; not be under formal investigation by administrative or judicial authorities for any suspected major violations; and, in the past three years, have no record of serious violation of the law, or revocation of membership by any futures exchange, stock exchange or any other trading platforms;
(4) have had no significant risk incidents in futures trading and clearing in the past three years;
(5) have the necessary personnel engaging in futures business;
(6) have the necessary premises and equipment;
(7) have a robust organizational structure and financial management system as well as robust systems for futures business, internal control, risk management and management of personnel engaging in futures business;
(8) comply with the regulations of China Securities Regulatory Commission (“CSRC”) on the monitoring of safe deposit of futures margin;
(9) have the infrastructures for futures business that meet the requirements of the Exchange; and
(10) meet other requirements prescribed by the Exchange.
An applicant for Trading Clearing Membership or General Clearing Membership shall meet the above requirements and other requirements prescribed by the Exchange.
For details, please refer to the Measures of China Financial Futures Exchange on Membership Management, Guidelines of China Financial Futures Exchange on the Management of Futures-Company Member Qualifications and other related regulations.

Trading Seat Management

1.  A member that applies for a trading seat shall meet the following requirements:
(1) having sound business operations and no record of material violations of laws or regulations;  
(2)  having the telecommunications and funds transfer capabilities as required by the Exchange;
(3) having the infrastructures and relevant professionals as required by the Exchange;
(4) having established a complete set of internal measures, and trading-related measures; and
(5) the building and management of its infrastructures comply with the relevant technical specifications of the State, the industry, and the Exchange.
2.  Period for processing trading seat applications
The Exchange will give a reply to an applicant that submits all the qualified materials within 15 business days of its receipt.
3.  Trading Seat Fee 
The trading seat fee is collected on a yearly basis. The annual trading seat fee shall be RMB 20,000 for members with an annual order volume of no more than 200,000 orders; and RMB 30,000 for members with an annual order volume of more than 200,000 orders. The order volume refers to the sum of buy, sell and cancellation orders. Any trading seat fee already paid is not refundable when a trading seat is cancelled.
4.  Use and Maintenance of Trading Seats
The trading facilities of a member can only be put into operation when, following installation and debugging, they meet the standards set forth by the Exchange and the relevant operating criteria.
Members shall strengthen the management of trading seats and maintenance of trading infrastructures, and shall obtain the approval of the Exchange before replacing or making technical adjustments to major facilities. Relocating a trading seat from the originally registered location shall be subject to the approval of the Exchange. The Exchange shall have the right to supervise and inspect the use of trading seats. 
5.  Conditions for Cancellation of Trading Seats
A member’s trading seat shall be cancelled if:
(1) the member applies for the cancellation which is then approved by the Exchange;
(2) the trading seat is sub-contracted, sub-leased, or transferred without approval;
(3) the member is fraught with mismanagement, commits a serious violation of rules or regulations, or no longer meets the conditions for operating a trading seat;
(4) the member uses the trading seat to steal information or sabotage the Exchange’s system;
(5) the member’s membership has been terminated by the Exchange; or
(6) the Exchange considers the member to be unfit to hold the trading seat.

Emergency Trading Floor Management

1. Application
A member shall submit an application form for using the emergency trading floor, which will be reviewed and approved by the Exchange.  
2. Trading
After an application is approved by the Exchange, the member’s emergency trading personnel may, upon verification of its ID and other certificates, enter the emergency trading floor to carry out trading.  
3. Leaving Emergency Trading Floor
Such emergency trading personnel shall leave the emergency trading floor after using it.