Measures for Trading Settlement and Fund Management (Trial)
Chapter I General Provisions
Article 1. In order to regulate the fund settlement and management of iron ore spot trading of Beijing Iron Ore Trading Center Corporation (hereinafter referred to as “COREX”), and to protect the lawful rights and interests of all trading parties, these Measures are formulated in accordance with the COREX Iron Ore Spot Trading Rules and other relevant laws and regulations, taking into account the actual market conditions.
Article 2. Settlement refers to business practices including calculating and transferring members' security deposits and payments for goods based on their trading results and the relevant provisions of COREX.
Article 3. Special fund settlement account refers to a dedicated bank account opened at a bank by a fund settlement institution recognized by the regulatory authority, which is used for supervising and settling the trading funds of COREX's members. To ensure its clear and transparent usage, the special fund settlement account is subject to separate account management, and various sub-accounts are established within it, including member fund custody accounts and interest accounts. Settlement banks refer to the banks where special fund settlement accounts are opened.
Article 4. Members shall open individual fund accounts at settlement banks. Each member’s fund account shall be linked to the special fund settlement account. Members can transfer fund withdrawals and deposits between the special fund settlement account and their respective fund accounts. They can select any settlement bank designated by the fund settlement institution to open their individual accounts.
Article 5. COREX implements a same-day settlement system. At 17:30 Beijing time on each trading day, the "Statement of Account for Iron Ore Spot Trading of Beijing Iron Ore Trading Center" is sent to members.
Article 6. Settlement adopts the principle of "one receipt and one payment, receipt before payment, and offsetting between receipts and expenditures".
Chapter II Definitions and Terms
Article 7. Security Deposits: Refers to funds deposited by members in the special fund settlement account in accordance with relevant regulations or agreements to ensure the performance of contractual obligations.
Article 8. Freeze: Refers to temporary retention by the settlement banks in accordance with relevant rules and instructions, including security deposits and payments for goods deposited in the special fund settlement account, which shall not be transferred prior to the completion of the transaction.
Article 9. Unfreeze: Refers to the release by the settlement bank of previously frozen funds in accordance with relevant rules and instructions.
Article 10. Deposit: Refers to the transfer of funds, including security deposits and payments for goods, by members from their individual fund accounts into the special fund settlement account.
Article 11. Withdrawal: Refers to the transfer of available funds by members from the special fund settlement account to their individual fund accounts.
Chapter III Trading Settlement
Article 12. When members place bids or offers, COREX's iron ore spot electronic trading system (hereinafter referred to as "the System") automatically calculates the corresponding security deposits or payments for goods. If the balance in the member's fund custody sub-account within the special fund settlement account is insufficient, the System will not allow the order to proceed and will issue a notification of insufficient funds.
Article 13. After a transaction is concluded, based on the buyer's payment instruction and both parties' confirmation of performance completion, the settlement bank will unfreeze and transfer the security deposits and payments for goods.
Article 14. COREX conducts same-day settlement of members' trading funds. At the end of each trading day, it calculates members' transactions and prepares the "Statement of Account for Iron Ore Spot Trading of Beijing Iron Ore Trading Center" (hereinafter referred to as the “State of Account”). Members should promptly download the "Statement of Account" and verify their transaction records and fund changes. Any objections to "Statement of Account" for that trading day require a written application for review, which should be submitted to COREX by 15:30 on the next trading day. COREX, together with the fund settlement institution, will promptly issue a review based on the records of the System and issue the conclusions accordingly; and if a member fails to submit a review application on time, it shall be deemed to indicate no objections.
Article 15. The security deposits ratio ranges from 0% to 100% of the transaction amount. When the security deposits ratio is set at 100%, it is considered as the payments for goods. Trading parties may set the security deposits ratio at their discretion on the basis of the counterparty's creditworthiness.
Chapter IV Deposit and Withdrawal Management
Article 16. Deposit Management:
1. After signing an agreement with a designated settlement bank, members can make deposits through the System or the settlement bank's transfer system, transferring funds from their individual fund accounts to the special fund settlement account for security deposits and payments for goods.
2. Under special circumstances where deposits cannot be made through the System or the settlement bank's transfer system, members may process deposits at a bank branch and fax the bank remittance (deposit) receipt to COREX. COREX will increase the funds upon confirming the receipt.
3. Funds transferred by members that are confirmed as received during market hours shall be immediately added to the special fund settlement account. Funds confirmed as received after daily settlement has been completed shall be credited in the special fund settlement account before the opening of the next trading day.
Article 17. Withdrawal Management:
1. To process withdrawal business, members should submit a withdrawal application to COREX through the System during trading hours.
2. After a member's withdrawal application is verified and approved by COREX, the corresponding funds will be transferred to the member's individual fund account.
3. COREX has the right to restrict withdrawals by members suspected of major violations and under investigation by COREX or relevant authorities. Such restrictions shall be limited to the amount of the frozen funds regarding the trading involved in the suspected violation.
Chapter V Supplementary Provisions
Article 18. COREX reserves the right to interpret and revise these Measures.
Article 19. Both Chinese and English versions are valid. In case of any inconsistency, the Chinese version shall prevail.
交易結(jié)算與資金管理辦法（試行）
第一章 總則
第一條 為規(guī)范北京鐵礦石交易中心股份有限公司（以下簡稱“北鐵中心”）鐵礦石現(xiàn)貨交易資金結(jié)算與管理行為，保護(hù)交易各方的合法權(quán)益，根據(jù)《北京鐵礦石交易中心鐵礦石現(xiàn)貨交易規(guī)則》等規(guī)則及有關(guān)法律法規(guī)，結(jié)合市場實(shí)際情況制定本辦法。
第二條 結(jié)算是指根據(jù)會員的交易結(jié)果和北鐵中心的有關(guān)規(guī)定，對會員保證金、貨款進(jìn)行計(jì)算、劃撥的業(yè)務(wù)行為。
第三條 資金結(jié)算專用賬戶是指由監(jiān)管部門認(rèn)可的資金結(jié)算機(jī)構(gòu)在銀行開立用于監(jiān)管、結(jié)算北鐵中心會員交易資金的銀行專屬賬戶，資金結(jié)算專用賬戶實(shí)行分賬管理，在資金結(jié)算專用賬戶中設(shè)立會員資金存管明細(xì)賬戶、利息等各類子賬戶，保證資金使用清晰透明。用于開立資金結(jié)算專用賬戶的銀行統(tǒng)稱為結(jié)算銀行。
第四條 會員在結(jié)算銀行開立自有資金賬戶，會員的自有資金賬戶與資金結(jié)算專用賬戶進(jìn)行綁定，會員的出金或入金往來在資金結(jié)算專用賬戶和其自有資金賬戶之間劃轉(zhuǎn)。會員可在資金結(jié)算機(jī)構(gòu)指定的結(jié)算銀行中任選一家開設(shè)自有資金賬戶。
第五條 北鐵中心實(shí)行當(dāng)日結(jié)算制度，每個(gè)交易日北京時(shí)間17：30向會員發(fā)送《北京鐵礦石交易中心鐵礦石現(xiàn)貨交易對賬單》。
第六條 結(jié)算采用“一收一付、先收后付、收支相抵”的原則。
第二章 定義與術(shù)語
第七條 保證金：是指為保證會員按照合同條款履約，會員按相關(guān)規(guī)定或約定凍結(jié)于資金結(jié)算專用賬戶內(nèi)的相應(yīng)資金。
第八條 凍結(jié)：是指結(jié)算銀行按相關(guān)規(guī)則和指令對已存入資金結(jié)算專用賬戶的保證金、貨款等資金暫時(shí)保管，在交易完成前不予劃轉(zhuǎn)的行為。
第九條 解凍：是指結(jié)算銀行按相關(guān)規(guī)則和指令對凍結(jié)資金解除凍結(jié)的行為。
第十條 入金：是指會員將其保證金、貨款等資金從其自有資金賬戶劃入到資金結(jié)算專用賬戶中的行為。
第十一條 出金：是指會員將其在資金結(jié)算專用賬戶上的可用資金劃入到其自有資金賬戶的行為。
第三章 交易結(jié)算
第十二條 在會員發(fā)布買賣指令時(shí)，北鐵中心鐵礦石現(xiàn)貨電子交易系統(tǒng)（以下簡稱“系統(tǒng)”）自動計(jì)算對應(yīng)的保證金或貨款，如資金結(jié)算專用賬戶中的會員資金存管明細(xì)賬戶額度不足，則系統(tǒng)不支持下單，系統(tǒng)將提示資金余額不足。
第十三條 交易達(dá)成后，根據(jù)買方付款指令及雙方確認(rèn)履約完成指令，結(jié)算銀行對保證金和貨款進(jìn)行解凍和劃轉(zhuǎn)。
第十四條 北鐵中心對會員的交易資金進(jìn)行當(dāng)日結(jié)算，在每日交易結(jié)束后對會員的成交進(jìn)行核算并編制《北京鐵礦石交易中心鐵礦石現(xiàn)貨交易對賬單》。會員應(yīng)及時(shí)下載《北京鐵礦石交易中心鐵礦石現(xiàn)貨交易對賬單》并核實(shí)其交易及資金變動情況，如對當(dāng)天《北京鐵礦石交易中心鐵礦石現(xiàn)貨交易對賬單》有異議，應(yīng)在下一交易日15：30時(shí)前以書面形式向北鐵中心申請復(fù)核，北鐵中心將會同資金結(jié)算機(jī)構(gòu)以交易系統(tǒng)的記錄為依據(jù)及時(shí)做出復(fù)核結(jié)論；會員未按時(shí)提出復(fù)核申請的，視為無異議。
第十五條 保證金比例為交易額的0%-100%，當(dāng)保證金比例設(shè)置為100%時(shí)，即視為貨款，交易雙方可根據(jù)交易對手方的信用情況自行設(shè)定保證金比例。
第四章 出入金管理
第十六條 入金管理：
（一）會員簽約指定結(jié)算銀行后通過北鐵中心鐵礦石現(xiàn)貨電子交易系統(tǒng)或結(jié)算銀行的轉(zhuǎn)賬系統(tǒng)進(jìn)行入金操作，把資金從其自有資金賬戶劃轉(zhuǎn)到資金結(jié)算專用賬戶，以便支付保證金、貨款。
（二）如遇特殊情況，會員無法通過北鐵中心鐵礦石現(xiàn)貨電子交易系統(tǒng)或結(jié)算銀行的轉(zhuǎn)賬系統(tǒng)進(jìn)行入金操作時(shí)，會員可在銀行網(wǎng)點(diǎn)辦理入金，并將銀行匯款（存款）憑證傳真給北鐵中心，北鐵中心在確認(rèn)到賬后給予增加資金。
（三）會員劃入的資金在開市期間被確認(rèn)到賬的，即時(shí)增加到資金結(jié)算專用賬戶；如在當(dāng)日結(jié)算完成后確認(rèn)到賬的，則在下一交易日開盤前計(jì)入資金結(jié)算專用賬戶。
第十七條 出金管理：
（一）會員辦理出金業(yè)務(wù)，應(yīng)在交易時(shí)間內(nèi)通過北鐵中心鐵礦石現(xiàn)貨電子交易系統(tǒng)向北鐵中心發(fā)出出金申請。
（二）會員出金申請經(jīng)北鐵中心核對通過后，相應(yīng)資金將劃出到會員自有資金賬戶。
（三）涉嫌重大違規(guī)，北鐵中心或有關(guān)部門正在調(diào)查的會員，北鐵中心有權(quán)限制其出金。限制出金以會員涉嫌違法違規(guī)的交易項(xiàng)目下凍結(jié)的資金額度為限。
第五章 附則
第十八條 本辦法由北鐵中心負(fù)責(zé)解釋和修訂。
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