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Notice of China Banking Regulatory Commission on Issuing the Guidelines on the Participation in Stock Index Futures Trading by Trust Companies [Effective]
中国银监会关于印发信托公司参与股指期货交易业务指引的通知 [现行有效]
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Notice of China Banking Regulatory Commission on Issuing the Guidelines on the Participation in Stock Index Futures Trading by Trust Companies
(No. 70 [2011] of China Banking Regulatory Commission)
All local offices of the China Banking Regulatory Commission (CBRC); all state-owned commercial banks and joint-stock commercial banks; Postal Savings Bank of China; and trust companies under the direct supervision of the CBRC:
The Guidelines on the Participation in Stock Index Futures Trading by Trust Companies are hereby issued to you for your compliance and implementation.
All local CBRC offices shall forward this Notice to the relevant banking financial institutions within their respective jurisdictions.
June 27, 2011
Guidelines on the Participation in Stock Index Futures Trading by Trust Companies
 

中国银监会关于印发信托公司参与股指期货交易业务指引的通知
(银监发〔2011〕70号)


各银监局,各国有商业银行、股份制商业银行,邮政储蓄银行,银监会直接监管的信托公司:
现将《信托公司参与股指期货交易业务指引》印发给你们,请遵照执行。
请各银监局将本通知转发至辖内相关银行业金融机构。
二〇一一年六月二十七日
信托公司参与股指期货交易业务指引
Article 1 To regulate the participation of trust companies in stock index futures trading and effectively prevent risks, these Guidelines are formulated in accordance with the Trust Law of the People's Republic of China, the Banking Supervision Law of the People's Republic of China, the Measures for the Administration of Trust Companies, the Interim Measures for the Business Management of Derivative Transactions of Banking Financial Institutions and other relevant laws and regulations.
   第一条 为规范信托公司参与股指期货交易行为,有效防范风险,根据《中华人民共和国信托法》、《中华人民共和国银行业监督管理法》、《信托公司管理办法》和《银行业金融机构衍生产品交易业务管理暂行办法》等法律法规,制定本指引。
Article 2 To directly or indirectly participate in stock index futures trading, a trust company shall obtain the approval of the CBRC and obtain the qualification for engaging in the stock index futures trading business.
A trust company participating in stock index futures trading shall abide by the relevant rules on futures exchange.
   第二条 信托公司直接或间接参与股指期货交易,应当经中国银监会批准,并取得股指期货交易业务资格。
信托公司参与股指期货交易应当遵守期货交易所有关规则。
Article 3 A trust company may not participate in stock index futures trading in its inherent businesses.
A trust company may participate in stock index futures trading for the purpose of hedging or arbitrage with its assembled trust business. A trust company may engage in stock index futures trading for the purpose of hedging, arbitrage or speculation with its single trust business.
   第三条 信托公司固有业务不得参与股指期货交易。
信托公司集合信托业务可以套期保值和套利为目的参与股指期货交易。信托公司单一信托业务可以套期保值、套利和投机为目的开展股指期货交易。
Article 4 To apply for the qualification to engage in the stock index futures trading business, a trust company shall meet the following conditions:
   第四条 信托公司申请股指期货交易业务资格,应当具备下列条件:
1. It has been rated 3C or above by the regulatory authority in the recent year;
To apply for engaging in stock index futures trading for the speculation purpose, it shall have been rated 2C or above by the regulatory authority in the recent year, and have engaged in the hedging or arbitrage business for at least one year;
 (一)最近年度监管评级达到3C级(含)以上。
申请以投机为目的开展股指期货交易,最近年度监管评级应当达到2C级(含)以上,且已开展套期保值或套利业务一年以上;
2. It has a sound and effective internal control system and risk management system for stock index futures trading;
 (二)具有完善有效的股指期货交易内部控制制度和风险管理制度;
3. It has two or more dealers who have received special training for at least six months on the relevant skills for conducting futures trading, have passed the futures practicing qualification examination, and have engaged in the relevant futures trading for at least one year, one or more relevant risk analysts and managers, and one or more persons who are familiar with the operating procedures, rules and standards for hedge accounting, all of whom shall not hold concurrent posts and shall have no bad record;
The person in charge of the futures trading business shall have two or more years of experience in the direct participation in futures transactions or risk management, and shall have no bad record;
 (三)具有接受相关期货交易技能专门培训半年以上、通过期货从业资格考试、从事相关期货交易1年以上的交易人员至少2名,相关风险分析和管理人员至少1名,熟悉套期会计操作程序和制度规范的人员至少1名,以上人员相互不得兼任,且无不良记录;
期货交易业务主管人员应当具备2年以上直接参与期货交易活动或风险管理的资历,且无不良记录;
4. It has an IT system that meets the requirements of Article 6 of these Guidelines;
 (四)具有符合本指引第六条要求的IT系统;
5. It has the business premises, safety protection facilities and other relevant facilities necessary for trading;
 (五)具有从事交易所需要的营业场所、安全防范设施和其他相关设施;
6. It has a strict business segregation system to ensure the effective segregation in terms of market information, risk management and profit/loss accounting between the businesses for hedging and non-hedging purposes; and
 (六)具有严格的业务分离制度,确保套期保值类业务与非套期保值类业务的市场信息、风险管理、损益核算有效隔离;
7. It meets other conditions as required by the CBRC.
 (七)银监会规定的其他条件。
Article 5 The application of a trust company for the qualification to engage in the stock index futures business shall be subject to preliminary examination by the local CBRC office, and be submitted to the CBRC for examination and approval.
A trust company under the direct supervision of the CBRC shall directly submit an application to the CBRC for examination and approval.
   第五条 信托公司申请股指期货业务资格,由属地银监局初审,报送银监会审批。
银监会直接监管的信托公司直接报送银监会审批。
Article 6 A trust company engaging in the stock index futures trust business shall meet the following requirements in terms of its IT system:
   第六条 信托公司开展股指期货信托业务,IT系统应当符合以下要求:
1. It has a reliable, stable and efficient stock index futures trading management system and stock index futures valuation system, which can satisfy the requirements for stock index futures trading and valuation;
 (一)具备可靠、稳定、高效的股指期货交易管理系统及股指期货估值系统,能够满足股指期货交易及估值的需要;
2. It has a risk control system and risk control models to conduct real-time monitoring of stock index futures trading;
 (二)具备风险控制系统和风险控制模块,能够实现对股指期货交易的实时监控;
3. Its stock index futures trading system is included in its dynamic monitoring system of risk control indicators so as to ensure the compliance of various risk control indicators with the prescribed standards; and
 (三)将股指期货交易系统纳入风险控制指标动态监控系统,确保各项风险控制指标符合规定标准;
4. It has at least one special line to connect the IT systems of the partner futures companies, and has established a backup channel.
......
 (四)信托公司与其合作的期货公司IT系统至少铺设一条专线连接,并建立备份通道。
......



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