Circular on Inviting Applications for Market Markers of TSR 20 Futures
To facilitate continuous and active trading in futures contracts, further improve the functioning of the market, and better serve the real economy, the Shanghai International Energy Exchange (hereinafter refers to as ’the Exchange’) hereby invites applications for Market Markers of TSR 20 futures in accordance with the Market-Making Management Rules of the Shanghai International Energy Exchange, and sets out matters related thereto as follows:
1. Application Requirements
(1) Having net asset of no less than RMB 50 million or its equivalent in foreign currency;
(2) Having specialized agencies and personnel responsible for the market-making business, and market-making personnel familiar with the relevant laws and regulations as well as the Exchange’s business rules;
(3) Having a sound plan for the market-making business, an internal control system and a risk management system;
(4) Having no record of severe violation of laws and regulations in the past three years;
(5) Having a stable and reliable technology system for the market-making business;
(6) Having the experience recognized by the Exchange in trading, market-making or simulated market-making;
(7) Other requirements prescribed by the Exchange.
2. Application Materials Requirements
(1) An Application Form of Market-making Qualification with its official seal (if any) signed by its legal representative or authorized signatory (Appendix 1);
(2) A copy of its Business License with its official seal, or notarized and lawfully authenticated materials on its legitimate establishment;
(3) Latest audited financial statement, or a copy of such statement with the official seal of the accounting firm or signed by the authorized signatory of the accounting firm or the auditing firm;
(4) Post setting and job responsibility of the market-making department, the name list and resumes of the person-in-charge and other personnel for the market-making business (Appendix 2);
(5) Implementation plan for the market-making business, internal control system and risk management system (Appendix 3);
(6) Letter of Commitment on no severe violation of laws and regulations in the past three years (Appendix 4);
(7) Statement on its technology system for the market-making business;
(8) Statement on its trading, market-making or simulated market-making;
(9) Other materials required by the Exchange.
The official seal is required for all the application materials. The paging seal is required for the (3) and (5) application materials.
3. Procedures for Acceptance of Applications
(1) Submission of application materials
Please submit a total of one copy of application materials that meet the above requirements, bound together in a book form according to the above sequence and titled in the format of “Shanghai International Energy Exchange Market Makers Application Materials – Product – Entity Name”, to the Exchange Trading Department by mail, and an electronic version thereof to the email address of the Trading Department by email, by 15:00 on August 30, 2019.
(2) Pre-review and Comprehensive assessment
The Exchange will pre-review the written application materials it has received. Applicants who do not meet the application requirements or provide incomplete application materials will be ineligible for the subsequent comprehensive assessment.
The Exchange will conduct a comprehensive assessment of each applicant in terms of its basic information, staffing, internal rules, implementation plan for market-making business, trading experience in the product concerned, experience in provision of quotes, and technology systems.
(3) Determination of qualified applicants
The Exchange will determine and disclose the list of applicants qualified as Market Makers according to the results of the comprehensive assessment.
Tel.: 021-68402786, 021-68401498, 021-68401770
Email address: firstname.lastname@example.org
Address: 5/F, Shanghai Futures Tower, 500 Pudian Road, Pudong New Area, Shanghai
Attention: the Exchange Trading Department
Postal code: 200122
1. Application Form of Futures Market-making Qualification
2. Summary Table of Posts and Personnel for Futures Market-making Business
3. Key Points of Reference in the Implementation Plan and Internal Rules for Market-making Business
4. Letter of Commitment.
News Link: http://www.ine.cn/en/news/notice/1987.html