China's CSRC issues interim measures for foreign traders
The China Securities Regulatory Commission on June 26 issued interim rules for foreign traders and brokers trading in China. The CSRC said these measures are “for the purposes of facilitating the opening up of the futures market, strengthening the administration of overseas traders’ and overseas brokers’ engagement in the trading of specified domestic futures products, safeguarding the order of the futures market, protecting the legitimate rights and interests of traders and promoting the innovative development of the futures market.” Under the rules, overseas traders may authorize domestic futures companies or overseas brokers to engage in the trading of specified domestic futures products on their behalf. In addition, qualified overseas traders may directly trade specified domestic futures products, subject to certain conditions.
