CSRC Revises Measures for the Administration of Futures Exchanges

The China Securities Regulatory Commission (“CSRC”) recently released the revised Measures for “the Administration of Futures Exchanges (Exposure Draft)” to solicit public opinions from September 16 to October 16, 2022, in order to effectively implement “the Futures and Derivatives Law”.

To improve the applicable systems regulations, the Measures add provisions on the listing of varieties of futures, clarify the regulatory responsibilities of futures exchanges for programmed trading, and strengthen management of actual control relationship by clarifying the definition, and requiring futures exchanges to refine the specific situations, procedures and requirements for the determination of the relationship. Market maker systems are applicable to futures trading and futures exchanges shall implement corresponding regulations. It also regulates cross-border cooperation of futures exchanges, and details contents related to futures trading information.