Southeast Asia Information Port News (www.dnyxxg.com) – The Zhengzhou Commodity Exchange (hereinafter referred to as Zhengzhou Commodity Exchange) announced on the 3rd the handling of six cases of violations of exchange rules. The violations included wash trading to transfer funds, disrupting market order, and violating exchange position management regulations. A total of 13 clients received disciplinary actions ranging from warnings and public criticism to suspension of all open positions and confiscation of illegal gains.
The announcement stated that Hubei Sansheng Agriculture and Animal Husbandry Co., Ltd., Wuhan Yuntong Shoutuo Automobile Operation Co., Ltd., and Wuhan Juhui Lighting Co., Ltd. engaged in mutual trading in rapeseed meal futures contract 2601 according to pre-arranged times, prices, or methods, disrupting market order; Shen Hui's position in apple futures contract 2601 exceeded the limit and was forcibly liquidated by the exchange; the actual control group of Hubei Yangtze River Regional Cotton Exchange Market Co., Ltd. and Toksun County Xiyu Cotton Industry Co., Ltd.'s cotton futures contract 2601 exceeded the limit and was forcibly liquidated by the exchange; Liao Yitao and Guo Zhen's positions in cotton yarn futures contracts 2602 and 260... In three separate cases, transactions were found between accounts under actual control, involving the transfer of funds. Specifically, Ningbo Hukoutuan Information Technology Co., Ltd. and Du Nengquan engaged in transactions with Jiang Jianbo in rapeseed futures contract 2608 and propylene futures contract 2610, respectively, according to pre-arranged times, prices, or methods, thus transferring funds. Hangzhou Chengui Trading Co., Ltd. and Zhejiang Dianlian Industry Co., Ltd. also engaged in transactions with each other in rapeseed oil futures contracts 2605 and 2607, according to pre-arranged times, prices, or methods, thus transferring funds.
According to the "Zhengzhou Commodity Exchange Violation Handling Measures," the parties involved and companies in the above cases have all received relevant disciplinary actions.
A relevant official from the Zhengzhou Commodity Exchange stated that the exchange maintains a "zero-tolerance" attitude towards illegal and irregular activities in the futures market and violations of exchange rules, and will severely punish such violations according to law. All participants in the futures market should raise their awareness of compliance, consciously abide by the rules, and jointly create a fair and orderly futures trading environment. Member units should also further strengthen investor education and actively guide clients to trade rationally and compliantly. (End)
