SFC: Supporting Private Capital And Professionals To Set Up Futures Institutions

On the 16 day, the SFC issued the "opinions on further promoting the innovative development of futures business institutions", formulated the general principle of promoting the innovation and development of futures business institutions in the coming period, and proposed measures such as relaxing industry access in a timely manner, gradually promoting the opening of futures business institutions, and steadily developing OTC derivatives business.

The new "nine states" is an important goal of improving the competitiveness of securities and futures services. It has pointed out the direction for the development of futures and derivatives industry from relaxing business access and promoting the innovation and development of intermediaries.

The "opinion" is aimed at implementing the spirit of the new "nine states" and actively taking measures to accelerate the development and innovation of the industry so as to meet the increasingly diversified risk management and wealth management needs of the real economy.

The basic principles of innovation and development of business organizations are to focus on the development of the service entity economy, to promote the coordinated development of futures business and product innovation, and to enhance the core competitiveness of futures trading institutions in order to accelerate the formation of a modern futures and derivatives service system with the functions of complete service, efficient service, reasonable structure and sound operation. We should adhere to both innovation development and risk prevention, and encourage futures business institutions to innovate independently. At the same time, risk management will always run through the whole process of innovation and development. We must firmly guard against the bottom line of systematic and regional risks. We must adhere to the protection of investors' legitimate rights and interests, establish an industry culture with integrity and compliance, and promote the stable and healthy operation of the futures market. According to "opinions", push forward futures.

In recent years, China's futures market has gained rapid development, the market function is increasingly playing, and the ability to serve the national economy has been further improved, which has been widely recognized by all sectors of the society.

As a link and bridge linking exchanges and investors, the futures and derivatives industry has also made considerable progress, and has greatly improved in terms of capital strength and compliance.

However, at present, the format of futures and derivatives industry is still relatively simple. There is still a big gap between the service capability and the demand of the real economy, which affects and restricts to a certain extent.

Development.

Two, we should expand the Risk Management Inc business pilot, further enrich the basic derivatives tools of the exchange, etc., and make efforts to enhance the competitiveness of futures business institutions, including the basic positioning of futures business institutions, the support of Futures Company to make better and stronger efforts, the promotion of Futures Company business pformation and upgrading, and the development of Futures Company asset management business and so on; three, the timely relaxation of industry access, including supporting private capital and professionals to set up futures business institutions, and studying the implementation of futures business license management system; four, exploring the dealer system and cultivating professional dealer teams, including exploring the establishment of a professional dealer system for the purpose of hedging and risk management, supporting the development of financial institutions and industrial customers into professional traders, and so on; and five, gradually promoting the opening of futures institutions, including encouraging foreign investors to participate in domestic futures. In order to enhance competitiveness and serve the real economy, the opinions put forward eight major initiatives for the focus of innovation and development of futures business institutions: first, vigorously enhance the capability of serving the real economy, including supporting futures business institutions to provide risk management services, and further

Operating agencies, supporting Futures Company to provide paction settlement services for overseas institutions to participate in the domestic futures market, supporting the establishment of overseas futures institutions and acquiring company, etc.; six, the steady development of OTC derivatives business, including supporting the futures institutions to carry out OTC derivatives trading, improving the main agreement for over-the-counter derivatives trading, and speeding up infrastructure construction, etc.; seven, strengthening investor protection, including improving investor suitability system, improving investor complaints handling and working mechanism, and vigorously promoting

The eight is to strengthen risk prevention, including strictly implementing the main responsibility of risk prevention for futures business institutions, strengthening information technology security, further promoting regulatory pformation, and strengthening self-discipline.