Skip to main content

INE:Circular on Market Makers Application for Bonded Copper Futures

To improve the functioning of the market, and better serve the real economy, the Shanghai International Energy Exchange (“INE”) hereby invites market makers for bonded copper futures in accordance with the Market-Making Management Rules of the Shanghai International Energy Exchange and notifies the relevant matters:


1. Application Requirements

(1) Having net assets of no less than RMB 50 million or its equivalent in foreign currency;
(2) Having specialized agencies and personnel in charge of the market-making business, and market-making personnel familiar with the relevant laws and regulations as well as INE’s business rules;
(3) Having a sound plan for the market-making business, an internal control system, and a risk management system;
(4) Having no record of severe violation of laws or regulations in the past three years;
(5) Having a stable and reliable technology system for the market-making business;
(6) Having the experience recognized by INE in trading, market-making, or simulated market-making; and
(7) Other requirements prescribed by INE.

2. Materials for Application

(1) An Application Form for Futures Market Maker Qualification with the applicant’s common seal (if any) signed by its legal representative or authorized signatory (Appendix 1);
(2) A photocopy of the applicant’s Business License bearing its common seal, or notarized and lawfully authenticated materials on its legitimate establishment;
(3) The original of the latest audited financial statement, or a photocopy bearing the common seal of the accounting firm or bearing the signature of the authorized signatory of the accounting firm or the auditing firm. In any case, a paging seal should be stamped;
(4) Post setting and job responsibility of the market-making department, and the name list and resumes of the person-in-charge and other personnel for the market-making business (Appendix 2);
(5) An implementation plan for the market-making business, internal control system, and risk management system (Appendix 3 for key points of reference). All these documents should be stamped with a paging seal;
(6) A Letter of Commitment on no severe violation of laws or regulations in the past three years (Appendix 4);
(7) A statement on its technology system for the market-making business (Appendix 5);
(8) A statement on its market-making or simulated market-making; and
(9) Other materials required by INE and, if a risk management subsidiary of a futures firm, a photocopy of its Filing Letter of the China Futures Association on Market-making Business.

3. Requirements for Submission

(1) Form of Materials: All application materials should be submitted in electronic form and, for Appendices 1 and 4, in written form as well. Both electronic and written materials should bear the applicant’s common seal. INE may require additional written materials as necessary.
(2) Order of Materials: Please number the required materials by referring to the above “Materials for Application” section and submit them together with a list.
(3) Name of Materials: Please name the materials in the format of “Applicant Name—Application Materials for Shanghai International Energy Exchange Market Maker.”
(4) Deadline of Submission: Please submit the electronic and written materials by email and post, respectively before October 30, 2020, and call us to confirm.

4. Contact Information

Tel: 021–68402786 (Tu)
021–68401550 (Li)
021–68401483 (Yuan)
Email: inemarketmaker@shfe.com.cn
Address: 5/F, Shanghai Futures Tower, 500 Pudian Road, Pudong New Area, Shanghai
Attention: Trading Department
Postal Code: 200122

Appendices: 1. INE Application Form for Futures Market Maker Qualification
　　　　　　2. Summary Table of Posts and Personnel for Futures Market-Making Business
　　　　　　3. Key Points of Reference in the Implementation Plan and Internal Rules for Market-Making Business
　　　　　　4. Letter of Commitment
　　　　　　5. INE Filing Form of Technology System for the Market-Making Business




For China derivatives market access and more market information please contact sherry_ustc@163.com

Labels:

Comments

Post a Comment

Popular posts from this blog

INE:Crude Oil Futures Trade at Settlement (TAS) Order Q&A

  1.       What is TAS? TAS, short for Trade at Settlement, is an order type that allows a trader to buy or sell an eligible futures contract during specified trading hours at the current day’s settlement price or a certain number of ticks of the outright above or below that price. 2.       Why does INE launch TAS orders? TAS order aims to provide an efficient and effective risk management tool in the market which can lower traders’ risk management costs, so as to enhance the proportion of brick-and-mortar enterprise investors and the crude oil price influence. For brick-and-mortar enterprises, the futures settlement price is often used as the benchmark price in spot trading. These enterprises used to place orders frequently to simulate the settlement price, which is difficult to execute as well as inefficient for hedging. TAS orders enable investors to trade at or near the settlement price during specified trading hours, which will greatly reduce the uncertainty
Post a Comment
Read more

China CSRC Solicits Comments on Draft Trading Server Colocation Rules

  On April 21, 2023, the China Securities Regulatory Commission (“CSRC”) issued the  Administrative Provisions on Trading Server Colocation for the Securities and Futures Markets (Consultation Paper)  (the “Administrative Provisions”). The Administrative Provisions fill a legal gap with respect to securities and futures trading server colocation. It has been common market practice for securities or futures companies to lease cabinets in an exchange or its subsidiary’ data center and sublease it to customers to host their servers, although neither the CSRC nor exchanges have formulated specific regulatory rules on server colocation. The Administrative Provisions are the only administrative departmental rules that directly regulate colocation activities. The promulgation of the Administrative Provisions improves regulations regarding market infrastructures and is conducive to the safe and stable operation of the securities and futures markets. The high-level legal foundations referenced
Post a Comment
Read more

INE Notice on the Approval of the Registration of Copper Cathode Brand “MONYWA LPT” of Myanmar Wanbao Mining Copper Limited

  The Shanghai International Energy Exchange (“INE” or the “Exchange”) has recently received the application from Myanmar Wanbao Mining Copper Limited for brand registration. In accordance with rules including the Registration Rules for Deliverable Commodities of Bonded Copper Futures and following its on-site inspection and sample testing, the Exchange determines that the registrant’s “MONYWA LPT”-branded copper cathodes conform to all the specifications of the INE copper cathode futures contract. Accordingly, the Exchange has issued the following decisions: 1. The Exchange approves the registration of “MONYWA LPT”-branded copper cathodes produced by Myanmar Wanbao Mining Copper Limited, with a registered production capacity of 100,000 mt and subject to standard delivery prices; 2. The above products are deliverable against INE copper cathode futures contracts as of the date of this Notice. Product information: Registrant: Myanmar Wanbao Mining Copper Limited Place of Origin: Sarlingy
1 comment
Read more