Updated on: December 13, 2016

Reported by He Chuan, Journalist from Economic Daily

Shanghai Futures Exchange (SHFE) currently publishes the announcement to make the revision to the Trading Rules of Shanghai Futures Exchange (hereinafter referred to as trading rules). According to the introduction, this revision is mainly involved in optimizing the information publish content of the Exchange and reducing the daily approval issues of the Exchange.

Relevant principals of SHFE introduce the revised provisions: firstly, the daily futures trading information publish content that “total trading volume, gross positions of futures company members of active month in futures contract, total trading volume, gross positions of non-futures company members of active month and the trading volume, positions of the first 20 futures company members of active month in futures contract” in Item 2, Paragraph 2, Article 64 of the Trading Rules is revised to “trading volume, the long positions and the short positions of the first 20 futures company members of active month in futures contract, and the total trading volume, total long positions and total short positions of futures company members and non-futures company members of the futures products subordinated to the futures contract”; Secondly, “floor trader carries the equipment into trading floor shall be approved by the Exchange” is adjusted to “floor trader carries the equipment into trading floor shall be checked and approved by the Exchange”.

The market participant thinks that the adjustment made by SHFE to information publish enlarge the calculation scope of total trading volume and gross positions, enlarged from the summarizing of part contract to totaling of entire products; meanwhile, it increase the disclosure of total trading information of single futures product non-futures company members, and no longer publish the trading conditions of non-futures company members in single month. This action coordinates the relation between transparency requirement of futures market and private business information protection and relation between futures market vitality and long-term stable development to meet the actual demand of market and better serve the real economy. SHFE reduces the daily approval issues, change the approval system to chartered system, it can guarantee the effective management of trading floor of the Exchange, also conform to the development tendency changing from prior approval to in-process and post supervision.

According to the announcement, the revised trading rules will be implemented from December 19, 2016.