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Circular

 

To facilitate continuous and active trading in futures contracts, further improve the functioning of the market, and better serve the real economy, the Shanghai International Energy Exchange (hereinafter refers to as ’the Exchange’) hereby releases this circular on market making application for Low-Sulfur Fuel Oil futures in accordance with the Market-Making Management Rules of the Shanghai International Energy Exchange, and sets out matters related thereto as follows:

1. Application Requirements

(1) Having net asset of no less than RMB 50 million or its equivalent in foreign currency

(2) Having specialized agencies and personnel responsible for the market-making business, and market-making personnel familiar with the relevant laws and regulations as well as the Exchange’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 and 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 the Exchange in trading, market-making or simulated market-making; 

(7) Other requirements prescribed by the Exchange.

2. Requirements for Application Materials

(1) An Application Form of Market-making Qualification with its official seal (if any) signed by its legal representative or authorized signatory (Appendix 1);

(2) A copy of its Business License with its official seal, or notarized and lawfully authenticated materials on its legitimate establishment;

(3) Latest audited financial statement, or a copy of such statement with the official seal of the accounting firm or signed by the authorized signatory of the accounting firm or the auditing firm;

(4) Post setting and job responsibility of the market-making department, the name list and resumes of the person-in-charge and other personnel for the market-making business (Appendix 2); 

(5) Implementation plan for the market-making business, internal control system and risk management system (Appendix 3); 

(6) Letter of Commitment on no severe violation of laws and regulations in the past three years (Appendix 4); 

(7) Statement on its technology system for the market-making business (Appendix 5); 

(8) Statement on its market-making or simulated market-making; 

(9) Other materials required by the Exchange.

The official seal is required for all the application materials. The paging seal is required for the (3) and (5) application materials.

3. Requirements for Submission of Application Materials

(1)     Forms of application materials

Please submit a total of one copy of application materials and the relevant electronic version.  The written material shall be prepared as one copy for each application, and the electronic version shall be prepared as the scanned copy of the written material with the official seal.

(2)     Sequence of Materials

Please submit the relevant materials with the corresponding list as required by the application procedure.

(3)     Title of Materials

Please entitle the materials in the format of “Applicant-Shanghai International Energy Exchange Market Maker Application Materials”

(4)     Submission Time

Please submit respectively by mail and email by June 8, 2020.

4. Contact information

Tel.: 021-68401550, 021-68401498

Email address: inemarketmaker@ine.cn

Address: 5/F, Shanghai Futures Tower, 500 Pudian Road, Pudong New Area, Shanghai

Attention: Trading Department

Postal code: 200122

Appendices:

1. Application Form of Futures Market-making 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. Form of Technology System for the Market-making Business

Shanghai International Energy Exchange

June 1, 2020


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