【中英文对照版】期货市场持仓管理暂行规定.docx

期货市场持仓管理暂行规定InterimProvisionsontheAdministrationofPositionsintheFuturesMarket制定机关：中国证券监督管理委员会发文字号：中国证券监督管理委员会公告202349号公布日期：2023.07.31施行日期：2023.07.31效力位阶：部门规范性文件法规类别：证券监督管理机构与市场监管IssuingAuthority:ChinaSecuritiesRegulatoryCommissionDocumentNumber：AnnouncementNo.492023oftheChinaSecuritiesRegulatoryCommissionDateIssued：07-31-2023EffectiveDate：07-31-20231.evelofAuthority：DepartmentalRegulatoryDocumentsAreaofLaw：SecuritiesRegulatoryInstitutionsandMarketSupervisionandManagementAnnouncementoftheRegulatoryCommissionChinasecuntls中国证券监督管理委员会公告(No.492023)(2023)49号)TheInterimProvisionsontheAdministrationofPositionsintheFuturesMarketareherebyissuedandshallcomeintoforceonthedateofissuance.现公布期货市场持仓管理暂行规定，自公布之日起施行。Annexes:1.InterimProvisionsontheAdministrationofPositionsintheFuturesMarket附件：1.期货市场持仓管理暂行规定2.DraftingExplanationfortheInterimProvisionsontheAdministrationofPositionsintheFutures2.期货市场持仓管理暂行规定起草说明Market中国证监会ChinaSecuritiesRegulatoryCommissionJuly 31,20232023年7月31日期货市场持仓管理暂行规定第一章总则第一条为规范期货交易行 为，加强期货市场持仓管理，防 范因持仓过度集中导致的风险， 发挥期货市场功能，根据中华 人民共和国期货和衍生品法 （以下简称期货和衍生品 法）期货交易管理条例 期货交易所管理办法境外 交易者和境外经纪机构从事境内 特定品种期货交易管理暂行办 法等有关法律、行政法规和部 门规章，制定本规定。Article 2 For ''administration limit, hedging, merging, etc.the purposes these Provisions, of positions" includes position large position reporting, position第二条本规定所称持仓管 理，包括持仓限额、套期保值、 大户持仓报告、持仓合并等内 容。InterimProvisionsontheAdministrationofPositionsintheFuturesMarketChapterIGeneralProvisionsArticle1Forthepurposesofregulatingfuturestradingbehaviors,strengtheningtheadministrationofpositionsinthefuturesmarket,preventingriskscausedbyexcessiveconcentrationofpositions,andmaximizingthefunctionsofthefuturesmarket,theseProvisionsaredevelopedinaccordancewiththeFuturesandDerivativesLawofthePeople,sRepublicofChina(hereinafterreferredtoastheTuturesandDerivativesLaw,)jtheRegulationontheAdministrationofFuturesTrading,theMeasuresfortheAdministrationofFuturesExchanges,theInterimMeasuresfortheAdministrationofTradinginFuturesofSpecificVarietiesinChinabyForeignTradersandForeignBrokerageAgencies,andotherrelevantlaws,administrativeregulationsanddepartmentalrules.第三条期货交易所、期货 经营机构、境外经纪机构、交易 者等相关市场参与者应当遵守本Article 3 Futuresexchanges,futurestradinginstitutions,foreignbrokerageagencies,tradersandotherrelevantmarketparticipantsshall规定。complywiththeseProvisions.第四条中国证券监督管理 委员会（以下简称中国证监会） 依法对期货市场持仓进行监督管 理。Article 4 TheChinaSecuritiesRegulatoryCommission(uCSRCn)shallsuperviseandadministratethepositionsheldinthefuturesmarketaccordingtothelaw.期货交易所依照本规定及业务规 则对期货市场持仓进行自律管 理。对于违反持仓管理规定的行 为，期货交易所应当在业务规则 中明确相应的处理措施。Thefuturesexchangeshallconductself-regulatorymanagementofitspositionsinthefuturesmarketinaccordancewiththeseProvisionsandthebusinessrules.Forviolationsofprovisionsonadministrationofpositions,futuresexchangesshallspecifythecorrespondinghandlingmeasuresinthebusinessrules.期货经营机构、境外经纪机构、 交易者应当遵守持仓管理相关规 定，依法合规开展相关业务。第二章持仓限额Futurestradinginstitutions,foreignbrokerageagenciesandtradersshallcomplywiththerelevantprovisionsonadministrationofpositionsandcarryoutrelevantbusinessinaccordancewiththelawandregulations.ChapterIlPositionLimit第五条持仓限额，是指期 货交易所规定期货经营机构、境 外经纪机构或交易者在某一期货 合约、标准化期权合约或品种上 持仓的最大数量。Article5Positionlimitreferstothemaximumnumberofpositionsheldbyfuturestradinginstitutions,foreignbrokerageagenciesortradersinacertainfuturescontract,standardizedoptioncontractorvarietyasstipulatedbythefuturesexchanges.第六条期货交易所制定和 调整持仓限额，应当事前向中国 证监会报告。Article 6 Whendevelopingandadjustingpositionlimit,futuresexchangesshallreporttotheCSRCinadvance.第七条 期货交易所制定持 仓限额，应当充分考虑期现货市Article 7 Whensettingpositionlimit,afuturesexchangeshallfullyconsiderfactorssuchasthe场规模、市场结构、市场集中 度、可供交割量等因素。sizeofthefuturesmarketandspotmarket,marketstructure,marketconcentration,andavailabledeliveryvolume.对源于同一基础资产的期货合 约、标准化期权合约，期货交易 所可以分别或联合设置持仓限 额，可以同时设置品种持仓限 额。Forfuturescontractsandstandardizedoptionscontractsoriginatingfromthesameunderlyingasset,futuresexchangesmaysetpositionlimitsseparatelyorjointly,andconcurrentlysetvarietypositionlimits.对套利交易、做市交易，期货交 易所可以制定相应的持仓限额管 理规定。Forarbitragetradingandmarketmaking,futuresexchangesmayformulatecorrespondingregulationsonthemanagementofpositionlimits.第八条期货交易所应当根 据历史持仓规模、期现货市场发 展和运行情况等，定期对持仓限 额进行评估，原则上每个自然年 度结束后开展评估工作，并根据 评估情况调整或维持持仓限额。Article 8 Thefuturesexchangesshallevaluatethepositionlimitsonaregularbasisaccordingtothehistoricalpositionsize,thedevelopmentandoperationofthefuturesmarketandspotmarket,etc.,conductevaluationaftertheendofeachnaturalyearinprinciple,andadjustormaintainthepositionlimitaccordingtotheevaluationinformation.期货交易所可以结合期货市场运 行情况和风险状况调整持仓限 额。Thefuturesexchangesmayadjustthepositionlimitinlightoftheoperationofthefuturesmarketandtherisksituation.第九条套期保值等期货交 易所认定的以风险管理为目的的 期货交易活动，可以申请持仓限 额豁免。Article 9 Hedgingandotherfuturestradingactivitiesidentifiedbyfuturesexchangesforthepurposeofris