• Differences between Special Clearing Account of CFFEX and Special Capital Acco...
  • CFFEX’s Roles in Stock Index Futures Market
  • Functions of CFFEX Clearing Department
CFFEX’s Roles in Stock Index Futures Market


The China Financial Futures Exchange (CFFEX) provides trading, settlement and other services of stock index futures for all market participants. Besides, it provides the guarantees for honoring contracts on stock index futures according to the CFFEX rules as the central counterparty, while it does not participate in the trading of stock index futures by itself. It has the following duties:


(1) providing the sites, facilities and services for trading;


(2) making contracts and arranging their listing;


(3) organizing and supervising transaction, settlement and delivery;


(4) ensuring fulfillment of contracts;


(5) regulating members in accordance with the articles of association and the trading rules;


(6) constituting and implementing the trading rules and detailed implementation rules of the CFFEX;


(7) releasing market information;


(8) supervising members and their clients, designating delivery warehouses and futures margin depositary banks as well as supervising the futures businesses of other participants in the futures market;


(9) investigating and punishing the violations; and


(10) performing other duties prescribed by the China Securities Regulatory Commission.