可以直接看的无码av-性之图吧国模私拍图-久久国产精品偷-国产内射爽爽大片-国产成人无码一二三区视频

To All Members,

In accordance with the trading rules of China Financial Futures Exchange (“Exchange”) and related implementing rules, this notice is hereby given on matters related to the delivery of the 2-Year, 5-Year, and 10-Year China Government Bond (CGB) futures contracts TS1903, TF1903, and T1903 ( “Contracts” ) due for settlement in March 2019:

1. The last trading day of 2-year, 5-year, and 10-year CGB futures falls on the second Friday of the contract’s expiration month, which is March 8, 2019 for TS1903, TF1903, and T1903 contracts.

2. CGB futures are subject to tiered position limits which are variable depending on the term to delivery. For the Contracts, the position limit from the last trading day preceding the delivery month is 600 lots. Any excess positions will be force-liquidated in accordance with the Measures of China Financial Futures Exchange on Risk Management; any losses that arise from the liquidation are to be borne by the directly responsible party; any profits are to be force-liquidated, in accordance with relevant provisions.

3. Any client participating in delivery shall report its CGB depository account (each a “Depository Account”) to the Exchange in advance through its carrying member. Any client that has opened accounts through multiple members shall report its Depository Account through each such member. Any client that reports a Depository Account at China Central Depository & Clearing (CCDC) may only report one CCDC Depository Account. Any client that reports China Securities Depository and Clearing (CSDC) Depository Accounts shall simultaneously report one and only one account at each of CSDC Shanghai Branch and CSDC Shenzhen Branch. 

4. With respect to a given delivery month Contract, after market close on each trading day between the second trading day (inclusive) prior to the delivery month and the trading day (inclusive) prior to the last trading day, long and short positions in said Contract held under the same trading code shall be netted at the Contract’s settlement price of the preceding trading day.

5. If a client’s Depository Account is not yet verified as of the second trading day prior to the delivery month of a Contract, the client shall not hold any position in the said Contract starting from the last trading day prior to the delivery month to the last trading day of the Contract. Starting from the last trading day prior to the delivery month of a Contract, the Exchange shall force-liquidate, in accordance with the Measures of China Financial Futures Exchange on Risk Control, the positions in the Contract held by any client whose Depository Account has not been verified.

6.  Any client that tenders for delivery on a Contract prior to the last trading day shall submit the tender through a member, who shall report the client’s delivery tenders to the Exchange by 3:15 p.m. on the same day. The Exchange shall determine the specific buyer positions to enter delivery by giving priority first to those that have been voluntarily tendered for delivery and second to those that have been held for a longer period. Positions held for the same number of days shall enter delivery on a pro rata basis. With respect to any buyer position not tendered for delivery before the last trading day of the Contract but is nevertheless identified by the Exchange to enter delivery, the Exchange shall designate one of the Depository Accounts previously reported by the buyer as the one for receiving the CGBs, with preference given to the account opened at the same Depository as the corresponding seller.

7. After market close on the last trading day of a given Contract, long and short positions under each client number shall be netted at the Contract’s settlement price of the preceding trading day; the net positions resulting therefrom shall then enter delivery. The results of such netting shall be excluded from the calculation of the final settlement price.

8. With respect to any buyer position and seller position entering delivery on the last trading day of a Contract, the respective carrying members of the buyer and seller shall submit, as applicable, the following information to the Exchange before 3:15 p.m. on that day: the buyer’s Depository Account information, the name and quantity of the seller’s deliverable CGBs, and the seller’s Depository Account information. If the carrying member of the buyer fails to submit delivery information for the buyer within the prescribed time period, the Exchange shall designate one of the Depository Accounts previously reported by the buyer as the one for receiving the CGBs, with preference given to the account opened at the same Depository as the corresponding seller; if the carrying member of the seller fails to submit delivery information for the seller within the prescribed time period, the seller shall be deemed to have failed to hand over the deliverable CGBs in full and on-time..

9. After Client positions enter delivery, the Exchange will notify their carrying members, through the member service system, of the results of delivery matching and the amount of delivery payment. Members should pay particular attention to the delivery mode specified in those results and work with their clients through the follow up procedures on the subsequent delivery days. Delivery may be conducted through regular delivery or delivery-versus-payment. DVP applies where both parties are using their CCDC depository accounts for the delivery.

10.Through the Exchange member service system, a clearing member may apply to the Exchange on behalf of their clients for making up the differences before 10:00 AM on the second day during the delivery process. In a regular delivery, a clearing member may apply for their buyer clients and in a DVP delivery for both the buyer and seller clients.

All members are hereby reminded to strengthen risk control, make adequate risk disclosures, and carry out risk management protocols to ensure the smooth operation of the market.

China Financial Futures Exchange

February 21, 2019