Xiamen Options and Futures Exchange (XNOFX) is a regulatory body that governs the trading of standardized commodity contracts and related investment products. Our primary role is to establish and enforce rules and procedures that ensure fair and transparent trading practices.

 

Self-Regulatory System

The Exchange's primary responsibility is to oversee and regulate the information disclosure practices of listed companies. This helps ensure that investors receive accurate and timely information, enabling them to make informed investment decisions with confidence. Our rigorous oversight and supervision of listed companies ensure that the information they provide is reliable and trustworthy, giving investors the peace of mind they need to invest wisely.

 

The XNOFX has been actively promoting the adherence of listed companies to their legal and regulatory information disclosure obligations. This has been achieved through a series of specific tasks, including the development of legally compliant guidelines for information disclosure, continuous and retrospective monitoring of disclosure announcements, responsible handling of high-risk businesses, and the implementation of administrative measures to prevent non-compliance. By implementing these measures, XNOFX is ensuring that listed companies maintain a high level of transparency and accountability, which ultimately benefits investors and stakeholders.

 

The supervisory landscape for listed companies has transformed, with significant efforts to enhance the process. Some of the key measures taken include raising awareness about the one-stop information disclosure service, implementing industry-based oversight for information disclosure, promoting rigorous monitoring of information dissemination, and continually enhancing transparency in supervision. These steps have all contributed to a more robust and effective supervisory framework for listed companies.

 

Market Supervision

The Exchange employs a state-of-the-art surveillance system that allows for real-time and comprehensive monitoring of securities trading to detect any unusual trading activity. In the event of any such activity, the Exchange takes self-regulatory action that may include issuing verbal or written warnings, requesting compliance commitments, conducting supervisory interviews, and enforcing disciplinary sanctions, such as account trading restrictions.

 

The XNOFX also reports to relevant parties as needed. Moreover, the Exchange is committed to upholding the principles of "openness, fairness, and impartiality" and safeguarding against market risks. To achieve this, the Exchange works closely with cross-market and cross-border regulatory bodies, demonstrating its dedication to regulatory cooperation.

 

What Are Our Responsibilities?

Setting requirements for:

• Introducing commodity contracts on our markets;
• Admission of commodity trading on our markets;
• Accepting membership with firms, traders, and sponsors;
• Reporting of trading activity by member firms.

 

Reviewing and approving:

• Listing particulars for debt commodities admitted;
• Listing particulars for open-ended investment funds;
• Listing and trading applications.

 

Monitoring:

• Issuers’ compliance according to our rules;
• Compliance by member firms, sponsors, and advisors according to our rules;
• Market activity, potential disorderly trading, or market abuse.

 

Reporting:

• Potential market abuse in order to perform further investigation.

 

How Do We Carry Out Our Responsibilities?

• We set rules for listing products and admitting issuers of commodities to trading;
• We provide corporate governance disclosures for equity issuers;
• We set rules for member firms, sponsors, and advisors;
• We engage our four regulatory committees;
• We monitor disclosures, news and market activity to identify potential gaps, disorderly trading and market abuse;
• We monitor issuers on our markets and the activities of member firms, sponsors, and advisors for compliance with our rules.

 

Regulatory Committees

The Role of the Committees:

Admissions - Approve admission of member firms, sponsors, and advisors.

Rules - Review and approve recommended changes within XNOFX’s rules.

Discipline - Conduct disciplinary cases under XNOFX’s rules.

Requests - Analyze requests under XNOFX’s rules.