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Clearing Business Guide
Guide to Dedicated Margin Account

Ⅰ. Introduction

The Futures Margin Account opened by a Clearing Member with the Depository Bank at which the Exchange is domiciled is referred to as the Dedicated Margin Account. The transfer of funds between the Exchange and a Clearing Member related to futures trading on the Exchange shall be conducted between the Dedicated Settlement Account of the Exchange and the Dedicated Margin Account of the Clearing Member.

Clearing Members can choose one or more banks to open the Dedicated Margin Account at Depository Banks according to their own business needs.

Ⅱ. Dedicated Margin Account opening process

1. A Clearing Member submits the “Application Form for Opening a Dedicated Margin Account” to the Clearing Department of the Exchange.

2. The Clearing Department will issue a “Notice on the Management of Clearing Member Dedicated Margin Accounts” to the Clearing Members after review and approval.

3. A Clearing Member opens a Dedicated Margin Account at relevant Depository Banks based on the “Notice on the Management of Clearing Member Dedicated Margin Accounts” issued by the Clearing Department of the Exchange, and agrees with relevant Depository Banks on a start date for all the accounts.

4. Depository Banks open the Dedicated Margin Account for Clearing Members in accordance with the “Notice on the Management of Clearing Member Dedicated Margin Accounts” issued by the Clearing Department of the Exchange, and returns the notification receipt to the Clearing Department.

5. The Clearing Department of the Exchange handles the relevant account settings according to the bank receipt. Since the account is activated, a Clearing Member can use the newly opened Dedicated Margin Account to handle fund transactions with the exchange. 

Ⅲ. Dedicated Margin Account changing process

1. A Clearing Member submits the “Application Form for Changing Clearing Member Dedicated Margin Accounts” to the Clearing Department of the Exchange.

2. The Clearing Department will issue a “Notice on the Management of Clearing Member Dedicated Margin Accounts” to the Clearing Members after review and approval.

3. A Clearing Member changes the Dedicated Margin Account with the relevant Depository Bank based on the “Notice on the Management of Clearing Member Dedicated Margin Accounts” issued by the Clearing Department of the Exchange, and agrees with Depository Banks on a start date for all the accounts.

4. Depository Banks change the Dedicated Margin Account for Clearing Members in accordance with the “Notice on the Management of Clearing Member Dedicated Margin Accounts” issued by the Clearing Department of the Exchange, and returns the notification receipt to the Clearing Department.

5. The Clearing Department of the Exchange handles the relevant account settings according to the bank receipt. Since the account is activated, a Clearing Member can use the newly changed Dedicated Margin Account to handle fund transactions with the exchange. 

Ⅳ. Dedicated Margin Account closing processing

1. A Clearing Member submits the “Application Form for closing Clearing Member Dedicated Margin Accounts” to the Clearing Department of the Exchange.

2. The Clearing Department will issue a “Notice on the Management of Clearing Member Dedicated Margin Accounts” to the Clearing Members after review and approval.

3. A Clearing Member shall go to the relevant Depository Bank to close the Dedicated Margin Account with the “Notice on the Management of Clearing Member Dedicated Margin Accounts” issued by the Clearing Department.

4. The Depository Bank shall handle the closing procedures for the Clearing Member's Dedicated Margin Account in accordance with the Management “Notice on the Management of Clearing Member Dedicated Margin Accounts” issued by the Clearing Department of the Exchange, and return the receipt of the notice to the Clearing Department.

5. The Clearing Department handles relevant account settings according to the bank receipt.


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