To clarify the report requirements and transitional arrangements for program trading at the Zhengzhou Commodity Exchange (“ ZCE ”), strengthen the oversight of program trading, regulate program trading activities, and maintain an orderly and fair futures market, the following announcement is hereby given in accordance with the Program Trading Rules of Zhengzhou Commodity Exchange (“ Program Trading Rules ”). I. Program Trading Report (I) Who Needs to Submit a Report A trader at the ZCE who meets one or more of the following criteria is required to submit a report: 1. Placing and canceling 10 or more orders within 1 second on 10 or more occasions in a single trading day. For the purpose of this rule, accounts linked by actual control relationship are treated as a single client account; 2. Letting a computer to a...
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