In order to further enhance market liquidity and promote the function of the financial futures market, on December 28, 2018, China Financial Futures Exchange issued the Measures for the Management of Market Makers of China Financial Futures Exchange (hereinafter referred to as the Measures). The newly issued Measures will be put into effect on December 28, 2018.

The introduction of market maker system is an important basic institutional arrangement in the OTC derivatives market, and also an important measure to improve market liquidity and operational efficiency. The above Measures clearly stipulate the qualifications, trading, rights and obligations, supervision and management of market makers, which lays a solid institutional foundation for introducing market makers into relevant financial futures.

The introduction of the Measures aims to enhance market liquidity, prevent large fluctuations in prices, and promote the rational pricing of related products, which will contribute to the healthy and stable development of the financial futures market. In the process of formulating the Measures, CFFE has made a thorough study of the management system of market makers in domestic and foreign trade and conducted extensive market research. Next, under the unified leadership and deployment of the CSRC, CFFE will introduce market makers into relevant products in a timely manner, and supervise market makers to carry out business legally and in compliance with regulations, so as to ensure the smooth operation of the financial futures market.

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