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Seat Application

1.  A member that applies for a trading seat shall meet the following requirements:

(1) having sound business operation and no record of material violations of laws and regulations;

(2) having telecommunications and funds transfer infrastructure that meets the requirements of the Exchange;

(3) having the business systems and relevant professionals as required by the Exchange;

(4) having established a complete set of rules, regulations, and trading management rules; and

(5) the building and management of its business systems comply with the relevant technical specifications of the State, the industry, and the Exchange.

2.  Period for processing trading seat applications

The Exchange will give a reply to an applicant that submits all the above-mentioned materials within 15 business days of its receipt.

3.  Trading Seat Fee 

The trading seat fee is collected on a yearly basis. The annual trading seat fee shall be RMB 20,000 for members with an annual order volume of no more than 200,000 orders; and RMB 30,000 for members with an annual order volume of more than 200,000 orders. The order volume refers to the sum of buy, sell and cancellation orders. Any trading seat fee already paid is not refundable when a trading seat is cancelled.

4.  Use and Maintenance of Trading Seats

The trading facilities of a member can only be put into operation when, following installation and tests, they meet the standards set forth by the Exchange and the relevant operating criteria.

Members shall strengthen the management of trading seats and maintenance of the trading system and shall apply for prior approval from the Exchange before replacing or making technical adjustments on major facilities. Relocating a trading seat from the original registered place shall be subject to the approval of the Exchange. The Exchange shall have the right to supervise and inspect the use of trading seats.

5.  Conditions for Cancellation of Trading Seats 

A member’s trading seat shall be cancelled if:

(1) the member applies for and is approved of the cancellation by the Exchange;

(2) the trading seat is sub-contracted, sub-leased, or transferred without approval;

(3) the member is fraught with mismanagement, has committed a serious violation of rules or regulations, or no longer meets the requirements for operating a trading seat;

(4) the member uses the trading seat to steal information or sabotage the Exchange’s system;

(5) the member’s membership has been terminated by the Exchange; or

(6) the Exchange considers the member to be unfit to hold the trading seat.

Password Resetting

A member may apply to the Exchange for resetting its password for order inquiry and other trading passwords by Member Service System.

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