关于在期货和期权合约对客户信息量收取申报费的通知

Notice on Collecting Order Fees on Futures and Option Contracts Based on Client Message Amount

各会员单位：

All Members,

为强化监管效能，保障市场平稳运行，根据《上海期货交易所结算细则》第三十七条，上海期货交易所（以下简称上期所）将自2022年8月5日（即8月4日晚连续交易）起，在期货和期权合约对客户超过一定标准的信息量收取申报费。

To enhance supervisory efficiency and ensure market stability, and as provided under Article 37 of the Clearing Rules of the Shanghai Futures Exchange, Shanghai Futures Exchange (SHFE) plans to collect order fees on futures and option contracts, based on the extra amount of client messages over the benchmark, starting from August 5th, 2022 (i.e., during continuous trading on the evening of August 4th).

一、适用对象

I.Scope of Application

1．上期所按照收费公式，对当日在期货和期权合约上报单、撤单或询价（仅针对期权）等交易指令笔数超过一定标准的客户收取申报费。

1. SHFE will, per the corresponding formula, begin collecting order fees from clients who have placed or canceled more orders than the benchmark orders in futures and option contracts or (for options only) requested for quotes on the current day.

2．非期货公司会员参照客户执行。

2.This fees collection plan and formula also apply to Non-Futures Firm Members.

3．上期所批准的做市商在做市品种上免收申报费。

3.SHFE-approved market makers are exempted from the order fees with respect to the products for which they make a market.

二、收费公式

II. Fees Formula

1．客户在期货和期权某个合约上的申报费=Σ客户在该合约上各档位的信息量 х 相应费率，具体费率标准如下。
1. Order fees for any particular futures or option contract = Σ The client’s total message amount for that contract at different levels × the corresponding fees rate. The fees rates are as follows:

其中，A组品种包括白银、铝、黄金、石油沥青、铜、燃料油、热轧卷板、镍、铅、螺纹钢、天然橡胶、锡、纸浆、不锈钢和锌。B组品种包括线材、铝期权、黄金期权、铜期权、天然橡胶期权和锌期权。

Group A includes sliver, aluminum, gold, bitumen, copper, fuel oil, hot rolled coils,

nickel, lead, steel rebar, natural rubber, tin, wood pulp, stainless steel, and zinc Futures. Group B includes steel wire rod futures and aluminum options, gold options, copper options, natural rubber options, and zinc options.

信息量=报单、撤单、询价等交易指令笔数之和。报单成交比（OTR）=（信息量/有成交的报单笔数）- 1。有成交的报单笔数为0时， 视其为1来计算OTR。上述信息量包括立即全部成交否则自动撤销指令（FOK）和立即成交剩余指令自动撤销指令（FAK）产生的报单和撤单笔数。

In particular, message amount = total number of trading orders such as order placement, order cancellation, and RFQ; OTR= (message amount / number of executed orders) – 1. If the actual number of executed orders is 0, it would be treated as 1 for calculating OTR. The message amount mentioned above includes order placement and cancellation resulting from fill-or-kill (FOK) orders and fill-and-kill (FAK) orders.

2．如相关合约有TAS指令的，TAS指令的信息量和标的合约信息量合并计算。

2. For a contract that supports trade at settlement (TAS) orders, the message amount from TAS orders and that from other orders for the contract are aggregated.

三、计费说明

III. Fees Calculation

1．对于同一客户在不同会员处的交易编码，对其全部交易编码的信息量和有成交的报单笔数合并计算后按收费公式计收申报费；并根据该客户在不同会员处的信息量比例，确定其在相关会员处应付的申报费。

1. For any client that maintains trading codes with multiple account-opening institutions, order fees are calculated by the formula above based on the aggregated message amount and number of executed orders of the client under all trading codes. The order fees payable through each account-opening institution are proportional to the percentage of that client’s message amount through that institution.

2．具有实际控制关系的相关客户视为一个客户计收申报费。

2. Clients linked by actual control relationship are treated as a single client for the calculation and collection of order fees.

四、收取方式

IV. Fees Collection

当日结算时，从相关会员的结算准备金中扣划申报费。如遇特殊情况无法在当日结算时扣划申报费的，上期所可在下一交易日结算时扣划，具体情况另行通知。

SHFE will deduct order fees from the clearing deposits of relevant Members during daily clearing. If the fees cannot be collected at daily clearing due to special circumstances, SHFE may do so at time of clearing on the next trading day, and the details for which will be announced separately.

五、其他事项

V. Other Matters

1．为实施上述业务，会员单位应当在2022年8月4日前完成技术系统升级。具体事宜请与相关技术系统供应商联系。

1. Members are expected to upgrade their IT systems before August 4th, 2022. Please contact your IT vendors for the specifics.

2．根据《上海期货交易所异常交易行为管理办法》第九条的规定，实施申报费收费的合约上产生的频繁报撤单行为不构成异常交易行为。

2. According to Article 9 of the Administration of Abnormal Trading Behaviors Rules of Shanghai Futures Exchange, Frequent order cancellation in contracts that collect order fees will not be deemed as an abnormal trading behavior.

特此通知。

The notice is hereby released.

上海期货交易所
2022年7月29日

Shanghai Futures Exchange

July 29th, 2022