Core Viewpoint - The release of the "Futures Market Making Trading Business Management Rules" marks a significant step in the regulation and self-discipline of China's futures market, aiming to enhance market liquidity and promote high-quality development [1][3]. Group 1: Overview of the New Rules - The new rules will take effect on December 1, 2025, and are the first specialized management system for market-making business in China's futures industry [1]. - The rules are designed to improve market pricing efficiency and facilitate transactions, focusing on comprehensive and targeted management [3]. Group 2: Market Making Business Context - Market making is crucial for enhancing liquidity and stabilizing prices in modern financial markets, with 38 companies engaged in market making for 61 futures varieties and 33 companies for 69 options as of September this year [2]. - The presence of market makers has improved market continuity and depth, providing efficient risk hedging channels for industry clients and investors, especially during market volatility [2]. Group 3: Key Components of the Rules - The rules consist of six chapters and thirty-five articles, covering the entire process of market-making business, including trading management, risk management, and self-discipline [4][5]. - Specific requirements include the need for market-making institutions to enhance management of trading accounts, strategies, and risk control mechanisms [5]. Group 4: Future Expectations - Experts anticipate that the implementation of the rules will lead to a phase of "stable quantity and improved quality" in market-making business, with a focus on technological investment and strategy optimization [6]. - The establishment of these rules reflects the regulatory body's emphasis on market liquidity and risk prevention, aiming for a balance between robust regulation and market vitality [6].