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| Announcement of the Beijing Stock Exchange on Issuing the Detailed Rules for Market Making Transactions in Stocks on the Beijing Stock Exchange | | 北京证券交易所关于发布《北京证券交易所股票做市交易业务细则》的公告 |
| (Announcement No. 2 [2023] of the Beijing Stock Exchange) | | （北证公告〔2023〕2号） |
| For the purposes of further improving the market trading functions of the Beijing Stock Exchange (hereinafter referred to as the “Exchange”) and enhancing market vitality and resilience, the Exchange has formulated the Detailed Rules for Market Making Transactions in Stocks on the Beijing Stock Exchange, which, as approved by the China Securities Regulatory Commission, are hereby issued, and shall come into force on the date of issuance. | | 为进一步完善北京证券交易所（以下简称本所）市场交易功能，提升市场活力和韧性，本所制定了《北京证券交易所股票做市交易业务细则》。经中国证监会批准，现予以发布，自发布之日起施行。 |
| | 特此公告。 |
| Beijing Stock Exchange | | 北京证券交易所 |
| January 19, 2023 | | 2023年1月19日 |
| Detailed Rules for Market Making Transactions in Stocks on the Beijing Stock Exchange | | 北京证券交易所股票做市交易业务细则 |
| Chapter I General Provisions | | 第一章 总则 |
| Article 1 For the purposes of regulating the business of market making transactions in stocks on the Beijing Stock Exchange (hereinafter referred to as the “Exchange”), protecting the lawful rights and interests of investors, and maintaining the operating order of the securities market, these Detailed Rules are formulated according to the Securities Law of the People's Republic of China (hereinafter referred to as the "Securities Law"), the Trading Rules of the Beijing Stock Exchange (for Trial Implementation) (hereinafter referred to as the "Trading Rules"), and other relevant provisions. | | 第一条 为规范北京证券交易所（以下简称本所）股票做市交易业务，保护投资者合法权益，维护证券市场运行秩序，根据《中华人民共和国证券法》（以下简称《证券法》）、《北京证券交易所交易规则（试行）》（以下简称《交易规则》）及其他相关规定，制定本细则。 |
| Article 2 These Detailed Rules shall apply to the business of market making transactions in stocks of companies listed on the Exchange. If these Detailed Rules are silent, the other relevant rules of the Exchange shall apply. | | 第二条 本所上市公司股票的做市交易业务，适用本细则。本细则未作规定的，适用本所其他有关规则的规定。 |
| Article 3 “Business of market making transactions in stocks of companies listed on the Exchange” means business that securities companies which meet conditions (hereinafter referred to as the “market makers”) provide continuous two-sides quotes in auction transactions in stocks of listed companies and other liquidity services in accordance with the provisions of these Detailed Rules and the market making agreement (hereinafter referred to as the “market making services”). | | 第三条 本所上市公司股票做市交易业务，是指符合条件的证券公司（以下简称做市商），按照本细则规定和做市协议约定在上市公司股票竞价交易中提供持续双向报价等流动性服务（以下简称做市服务）的业务。 |
| Article 4 A market maker that conducts the business of market making transactions in stocks shall strictly comply with laws, administrative regulations, departmental rules, regulatory documents (hereinafter referred to as the “laws and regulations”), the business rules of the Exchange, and the market making agreement, and shall neither use the business of market making transactions to commit insider trading, market manipulation, and other violations of laws and regulations or otherwise seek improper benefits nor trade on nonpublic information. | | 第四条 做市商开展股票做市交易业务，应当严格遵守法律、行政法规、部门规章、规范性文件（以下简称法律法规）、本所业务规则的规定和做市协议约定，不得利用做市交易业务进行内幕交易、操纵市场等违法违规行为或者谋取其他不正当利益，不得利用未公开信息进行交易。 |
| Chapter II Application for and Termination of Market Making Services | | 第二章 做市服务申请与终止 |
| Article 5 Members of the Exchange that have obtained qualifications for the business of market making transactions in listed securities with the approval of the China Securities Regulatory Commission (hereinafter referred to as the “CSRC”) may, after receiving permission for market making transactions on the Exchange, file for recordation with the Exchange to provide market making services with respect to specific stocks. | | 第五条 本所会员经中国证券监督管理委员会（以下简称中国证监会）核准取得上市证券做市交易业务资格的，开通本所做市交易权限后，可以向本所备案为特定股票提供做市服务。 |
| Article 6 A sponsor qualified for the business of market making transactions in listed securities or the securities company that has actual control over the sponsor shall be encouraged to provide market making services with respect to the stocks sponsored by it during the period of continuous supervision and guidance. | | 第六条 鼓励具备上市证券做市交易业务资格的保荐机构或者实际控制该保荐机构的证券公司在持续督导期间为其保荐股票提供做市服务。 |
| Article 7 A member contemplating requesting permission for market making transactions on the Exchange shall submit the following materials to the Exchange: | | 第七条 会员拟开通本所做市交易权限的，需向本所提交下列材料： |
| (1) A written application for permission for market making transactions. | | （一）做市交易权限开通申请书； |
| (2) A photocopy of the certification for the qualifications for the business of market making transactions in listed securities obtained with the approval of the CSRC. | | （二）经中国证监会核准取得上市证券做市交易业务资格的证明文件复印件； |
| (3) Information on the securities account exclusively for market making purpose and the proprietary securities account used by the market making department. | | （三）做市专用证券账户、做市部门使用的自营证券账户信息； |
| (4) Other materials required by the Exchange. | | （四）本所要求提交的其他材料。 |
| Article 8 If the materials submitted by a member for requesting permission for market making transactions are complete and meet requirements, the Exchange shall so notify within five trading days of acceptance as to enable the applicant to sign a market making agreement, specifying the relevant rights and obligations in relation to conducting the business of market making transactions. After the market making agreement is signed, the Exchange shall grant permission for market making transactions to the applicant, and make an announcement to the market. | | 第八条 会员提交的做市交易权限开通材料齐备且符合要求的，本所自受理之日起5个交易日内通知申请人签订做市协议，明确开展做市交易业务的相关权利和义务。做市协议签订后，本所为申请人开通做市交易权限，并向市场公告。 |
| If the materials for requesting permission for market making transactions are not complete or do not meet requirements, the Exchange shall refuse permission, and notify the applicant within five trading days. | | 做市交易权限开通材料不齐备或不符合要求的，本所不予办理，并在5个交易日内告知申请人。 |
| Article 9 Where a market maker voluntarily applies for revocation of the permission for market making transactions on the Exchange, it shall notify the Exchange in writing at least 15 trading days in advance, and the permission for market making transactions shall be revoked after the Exchange provides confirmation. | | 第九条 做市商主动申请取消本所做市交易权限的，应当至少提前15个交易日书面通知本所，经本所确认后做市交易权限关闭。 |
| Article 10 Where a market maker falls under any of the following circumstances, the Exchange may revoke its permission for market making transactions, and make an announcement to the market: | | 第十条 做市商有下列情形之一的，本所可以取消其做市交易权限，并向市场公告： |
| (1) Ceasing to be qualified for the business of market making transactions in listed securities. | | （一）不再具备上市证券做市交易业务资格； |
| (2) Seriously violating laws and regulations. | | （二）出现严重违法违规行为； |
| (3) Other circumstances specified by the Exchange or in the market making agreement. | | （三）本所规定或者做市协议约定的其他情形。 |
| If a market maker has the permission for market making transactions on the Exchange involuntarily revoked, it may not apply again for the permission for one year. | | 做市商被取消本所做市交易权限的，1年内不得重新申请开通。 |
| Article 11 If a market maker contemplates joining market making in specific stocks, it shall submit an application form and other recordation materials prescribed by the Exchange to the Exchange in advance. If the recordation materials are complete and meet requirements, the Exchange shall make recordation within three trading days, and notify the applicant. The applicant shall make an announcement on an information disclosure platform that complies with the Securities Law (hereinafter referred to as the “regulated information disclosure platform”) on the date of receipt of the recordation notice from the Exchange, and may make markets in the relevant stocks on the trading day following the announcement. | | 第十一条 做市商拟加入为特定股票做市的，应当事先向本所提交申请表等本所规定的备案材料。备案材料齐备且符合要求的，本所在3个交易日内予以备案，并通知申请人。申请人应当于收到本所备案通知当日在符合《证券法》规定的信息披露平台（以下简称规定信息披露平台）公告，自公告的次一交易日起可以为相关股票做市。 |
| ．．．．．． | | ．．．．．． |
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