期贷交易管理暂行条例 Interim Regulations on Management of Futures Transaction

saction by purchasing or selling the futures contracts which have the same varieties, numbers and settlement months with but the opposing trading directions to the futures contracts they hold;.

　　(7) "Volume of futures holdsettlement months with but the opposing trading directions to the futures contracts they hold;.

　　(7) "Volume of futures holding" refers to the number of the unsold contracts held by futures traders.

　　(8) "Limit on futures holding" refers to the maximum volume of futures holding of the futures traders specified by a futures exchange.

　　(9) "Warehouse warrant" refers to the standardized bill of lading produced by the settlement warehouse and affirmed by a futures exchange.

　　(10) "Match transaction" refers the course that the computerized transacting system of a futures exchange matches the instructions of the bargainers.

　　(11) "Limit up and limit down" means that the trading price on one specific business day of the futures contracts may not be higher or lower than the specified range of rise and drop, and the quoted price beyond the range is invalid, so the transaction is null.

　　(12) "Inside information" refers to the information that is not made public because it may have a major effect on the market price of the futures. The following information belongs to inside information: the policies formulated by the CSRC and other institutions concerned that may have a major effect on the price of futures transaction, the decisions made by a futures exchange that may have a major effect on the price of futures transaction, the funds and trading trends of the members and clients of a futures exchange, and other important information determined by the CSRC to have a marked effect on the trading prices of futures.

　　(13) "Persons with knowledge of inside information" refer to the persons who are likely to get to or acquire the inside information because of their special status as administrators, supervisors or professionals, or of the performance of duties as employees or professional counselors. The following persons are included: such senior management persons as the head governor, deputy head governor, general manager, deputy general manager of a futures exchange, other business persons who are likely to acquire the inside information due to their position, the staff workers of the CSRC and other institutions concerned, and other persons that are described by the CSRC.

　　Article 71 These Regulations shall take effect as of September 1, 1999

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