For the Oversea Intermediary:

The Top questions they care about as followed:
1. the NRA account:
OI can use the same NRA account for both of the Crude Oil Futures of INE and Iron Ore Futures of DCE

2.how to open the NRA account:
1)Does opening NRA account need all directors to be in counter?
At present, at the Bank of China and ICBC, client can open NRA accounts without all the board of directors to be in counter. The latest simplified NRA account opening procedure contains two methods: one is sending a representative to the inland cabinet to open the account by the resolution of the board of directors of the oversea customer. Then the bank would inquire the representative about the customer's willingness to open account and examine the relevant materials. The other way is sending the materials to foreign branch for checking so the client does not need to get into inland area. However, this need specific permission by the leaders of the bank, so both Bank of China and ICBC recommend the first method and it needs 2 to 3 weeks.

Bank of Communications still needs all the board of directors to be in counter for opening NRA account.

2)how long does it take to open a NRA account now?

It takes about 10 working days for the bank to handle materials and conduct examination process. It takes a longer time if the client need more time to provide and handle materials, witness process, and recruit the all board of directors. After all the directors are to be in the cabinet, the opening of the NRA account would be officially completed. Therefore, the time of opening account depends on the specific circumstances of the clients.

3. Margin call:
When risk rate >=100%, there will be margin call.
Margin call at T day, funds transfer cut off time T+1 2p.m., forced liquidation to reduce the risk degree below 100%.

4. Physical delivery
Galaxy Futures is experienced in physical delivery, and can provide the service as followed:
1) before delivery:
Apply for hedging quota for delivery volume;
Lead clients to visit strorage and build-up potential relationship;
Apply storage capacity based on clients' requirement
2) Delivery:
Advice of EFP for the standard materials and non-standard materials;
Help clients to submit requirements to exchange and coordinate the dispute solution.
3) After delivery:
Help standard-warrent owners find buyers near storage;
Standard warrent pledge;

Standard warrent transfer.

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