The buyer of the futures contract in an EFP transaction on Chinese government bond futures should confirm the EFP transaction within 60 minutes upon the seller of the futures contract reports the EFP transaction. If the EFP transaction is to be reported outside the time window for reporting of EFP transactions on Chinese government bond futures, the reporting should be postponed. For example, if the seller of the futures contract reports the EFP transaction at 11:20 a.m. on a trading day, the buyer of the futures contract should confirm the EFP transaction prior to 13:50p.m.on that day; if the seller of the futures contract reports the EFP transaction at 15:00 p.m. on T day, the buyer of the futures contract should confirm the EFP transaction prior to 10:00 a.m. on T+1 day. It should be noted that no EFP transaction on Chinese government bond futures is allowed to be entered into on the last trading day of the Chinese government bond contract and therefore, any EFP report which has not become effective on the trading day immediately preceding the last trading day will be invalid.
