China Securities Regulatory Commission, Circular on Issues Relevant to Regulating the Deposit and Withdrawal of Futures Margins

Issued: January 19 2006

Main contents: Investors engaging in futures transactions shall open bank settlement accounts with futures settlement banks (Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, Construction Bank of China and Bank of Communications) for deposits and withdrawals in futures transactions (Futures Settlement Accounts), or alternatively, register the bank settlement account that has already been opened with a settlement bank as a futures settlement account (Article 1). For deposits and withdrawals for futures transactions, investors shall, through the investor's Futures Settlement Account and futures brokerage's margin account opened with the same futures settlement bank, handle such deposits and withdrawals in the form of transfers within the same bank. Deposits and withdrawals may not be handled through cash payments and receipts or internal transfers within the futures brokerage (Article 3).
Related legislation: Measures for the Administration of Renminbi Bank Settlement Accounts, Apr 10 2003, CLP 2003 No.4 p.5